Dallas-based Precision Aerospace Holdings LLC (Precision), a leading manufacturer of precision machined aerospace and defense components, has acquired Owens Machine and Tool Company (Owens). Precision was formed through the partnership of two Dallas-based private equity firms, CIC Partners (CIC) and Juniper Capital Management (Juniper).

Owens produces complex, multifaceted parts, tooling and prototypes utilizing multi-axis machine tools and best-in-class cutting tools. It was established in 1986 to develop and sell complex machine components, primarily to the aerospace and defense industries. Owens is located in Lewisville, Texas and specializes in CNC machining of titanium and nickel alloys.

Terms of the deal were not disclosed.

Baker Botts represented Precision in connection with the transaction. The Baker Botts team included Clint Culpepper, Bryan Henderson, Jason Loden, Paul Luther, Steve Marcus, Liz Singleton, Jordan Hahn, Morgan Copher, Michael Donnellan, Sarah Hendrix and Alex Reinert.

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