SOUTHLAKE, Texas and SIMI VALLEY, California – October 31, 2014 – Insight Equity Holdings LLC (“Insight Equity”), the Southlake, Texas headquartered private equity firm, is proud to announce that its portfolio company Midstate Berkshire (“Midstate”) has acquired CalRAM Inc. (“CalRAM”). CalRAM, based in Simi Valley, California, specializes in additive manufacturing (also referred to as 3D printing) of metallic components for the Aerospace & Defense and Oil & Gas industries.
Duane Pekar, CEO of Midstate, commented “We believe combining Midstate Berkshire's expertise in precision machining and assembly with CalRAM's additive manufacturing capability will be a game-changing partnership intended to provide aerospace and defense customers with the most advanced products on the market.”
“CalRAM has developed industry-leading expertise in the 3D printing of precision parts using multiple types of metal, all while meeting the demanding requirements of its customers. Adding this capability will open many attractive new opportunities for Midstate Berkshire” remarked James Jackson, a Senior Vice President at Insight Equity.
Victor Vescovo, COO & Managing Partner at Insight Equity, noted “Additive manufacturing has the potential to revolutionize the design, development, and production of highly-complex and weight-sensitive parts, while delivering better performance and lead times for customers. CalRAM has developed an impressive set of capabilities and we are excited to help them continue to grow.”
Imperial Capital, LLC served as the exclusive financial advisor to CalRAM on the transaction.
About Midstate Berkshire
Midstate Berkshire is a leader in precision contract machining, fabrication, and assembly services for the aerospace, defense, power generation, and oil & gas industries. Headquartered in Westfield, Massachusetts, Midstate Berkshire features over 200,000 square feet of manufacturing space with the capacity to produce both large and small scale components. The company operations include more than 100 state-of-the-art, multi-axis CNC machines, handling volumes ranging from prototyping to full-scale production. In addition to a highly skilled and experienced workforce, Midstate Berkshire has a reliable network of materials, processing and testing companies enabling them to provide their customers with the fastest, cost-effective, turnkey solutions with uncompromising quality, precision, and component performance.
About Insight Equity
Insight Equity makes controlling investments in strategically viable, middle market, asset intensive companies across a wide range of industries. Insight Equity specializes in partnering with companies in complex and challenging situations, including corporate divestitures, aggressive growth opportunities, restructurings, and transitions from private family ownership. The firm leverages a proven, collaborative value creation model to facilitate operating enhancements and growth. Insight Equity’s headquarters is located near the Dallas / Ft. Worth International Airport in Southlake, Texas. The firm also has an office in New York City.