H.I.G. Capital, whose managed capital amounts to $75 billion, has released information regarding an affiliate of its which has completed the purchase of Premier Forge Group. The purchased company is a leading producer of highly complex, critical forgings that are used by the aerospace, defense, and specialty industrial industries.
PFG is based in Portland, Indiana and has other manufacturing sites located in Azusa, California and Lebanon, Kentucky. The Company collaborates with leading OEMs and tier-one suppliers in developing complex closed die forgings, upset forgings and ring forgings that are specifically designed for demanding conditions.
PFG’s unique manufacturing capability, metallurgical engineering and intimate customer collaboration enables the Company to provide services for programs that have high demands for performance, quality and reliability.
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Anthony Chambers, Managing Director at H.I.G., said, “Management has established PFG as a trusted supplier of mission-critical forged components. The Company offers differentiated manufacturing capabilities, deep engineering expertise, and a strong reputation for quality and reliability. We are excited to partner with Timm and the broader management team to support continued investment in the Company’s capabilities, helping meet growing customer demand while strengthening the domestic industrial base.”
Timm Fields, Chief Executive Officer of PFG, added, “This partnership marks an exciting new chapter for PFG. H.I.G. brings significant capital and operational resources, and we share a common vision for the Company’s future. Together, we will continue investing in our people, operations, and customer relationships while expanding our capabilities to support the next generation of aerospace, defense, and industrial platforms and programs.”