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TM Industries Inc., a large-scale, high-precision machining company headquartered in East Berlin, Conn., has combined with Paradigm Precision Holdings LLC., a portfolio company of American Capital Strategies Ltd. Terms of the transaction were not disclosed. The investment banking group at Carl Marks Advisory Group LLC (CMAG) advised TM Industries in connection with the transaction.
From humble beginnings in a small garage in New Britain, Conn., more than 45 years ago, TM Industries has grown to become a critical supplier to some of the largest defense, marine, aerospace and power generation Fortune 500 companies in the United States.
Based in Tempe, Ariz., Paradigm Precision is a leading manufacturer of complex machined components for the aerospace and industrial gas turbine engine industries.
"The Carl Marks team remained sensitive to my concerns as a business owner about maintaining the crucial relationships we have with our customers and employees," said Anthony Micacci, president, TM Industries. "I'm confident Paradigm Precision will continue the TM Industries' tradition of delivering quality products to our valued clientele."
"We were pleased to provide value to TM Industries in effectively closing the deal despite one of the most challenging financial climates in recent history," said Warren H. Feder, partner, Carl Marks Advisory Group. "Completing this transaction in today's market speaks to the high level of dependable service and quality TM Industries has supplied to its customers over the years."
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