|By Marketwired .||
|June 16, 2014 05:49 PM EDT||
IRVINE, CA -- (Marketwired) -- 06/16/14 -- Hunter Wise Financial Group, LLC and Managing Director, William Peck, are pleased to announce that its client Votaw Precision Technologies, Inc. of Santa Fe Springs, California, has been acquired by Burtek Enterprises Inc. of Chesterfield, Michigan, a Wynnchurch Capital Partners LP portfolio company.
Votaw Precision Technologies, Inc., founded in 1963, is nationally recognized as a premier manufacturer of large-scale, high-precision flight critical aerospace hardware and ground support equipment. Votaw's large precision turning and milling machining capabilities, combined with its engineering and integration services distinguish the company as a premier manufacturer of large and complex mission critical components for the spaceflight, aerospace, defense and commercial end markets.
"The combination of Burtek Enterprises Inc. and Votaw Precision Technologies brings together two of the best defense and aerospace suppliers in the industry and creates a broader and deeper platform to better serve customers across the defense, spaceflight and aerospace industries," said Scott Wallace, President of Votaw Precision Technologies.
Burtek and Votaw will continue to operate independently out of their existing facilities under Burtek Holdings, Inc. with Wynnchurch Capital as the major shareholder. Terry Theodore, Managing Partner of Wynnchurch Capital comments, "This combination brings together over 70 years of experience, customer focus and performance excellence. Together, Burtek and Votaw have demonstrated that they can meet or exceed customer's expectations across a broad range of demanding applications."
Bill Peck, the Hunter Wise investment banker representing Votaw noted that "The sale of Votaw to Burtek was a complex transaction due in part to accounting method changes, unique indemnification provisions and contract assignments."
About Hunter Wise Financial Group, LLC
Hunter Wise Financial Group, LLC, is a specialized investment bank providing the highest quality level of corporate financing, merger, acquisition, divestiture and advisory services. The Company's clients include small to medium-sized public companies, as well as selected middle market privately-held businesses. Headquartered in Irvine, California, Hunter Wise Financial Group, LLC has 13 offices throughout the U.S. and an office in Canada. For information on Hunter Wise Financial Group, LLC, visit www.hunterwise.com.
William F. Peck
Hunter Wise Financial Group, LLC