Precision Gear acquired by investment group

By Industrial Distribution staff -- Industrial Distribution, 6/26/2008 6:42:00 AM

Precision Gear Holdings Inc. has been acquired by One Equity Partners LLC.

The price was $80 million, according to reports.

A subsidiary of Precision Parts International Inc., Rochester Hills, Mich., Precision Gear is based in Twinsburg, Ohio. A subsidiary, Merit Gear, is headquartered in Antigo, Wis.

Precision Gear is a manufacturer of precision gears, gear assemblies and components serving industries such as wind power, aerospace, oil and mining.

One Equity is a private equity firm with offices in New York, Chicago and Menlo Park, Calif. It also has offices in Hong Kong and Frankfurt, Germany.