South Paris manufacturer sold
A precision manufacturer in South Paris has been sold to a New York City-based private equity firm.
Roland Sutton, founder of Maine Machine Products Co., announced his family has sold 100% of its ownership interest in the company to GenNx360 Capital Partners, according to the Sun Journal. The terms of the sale were not released. Sutton also resigned his position as chairman of the board, but said the rest of the company's managers, including President and CEO David MacMahon, will remain in place. The company was founded more than 50 years ago and manufactures components for the defense, semiconductor, and oil and gas industries.
GenNx360 was founded in 2006 and specializes in industrial business-to-business companies with $75 million to $500 million in revenues, according to its website. It also has offices in Seattle, Cambridge., Ma., and India.
Go to the article from the Sun Journal >>
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