Sky Peak Capital Announces Acquisition of Hicks Machine and the Formation of Excelus Manufacturing Solutions
Original Article Business Wire
“We look forward to building a one-stop, turn-key solutions provider focused on cutting edge technologies in engineering, machining, fabrication and beyond at a critical time in the lifecycle of U.S. manufacturing.”
Excelus will serve as the holding company for Sky Peak’s current precision machining acquisitions, Jarvis and Hicks, and will focus on the Aerospace & Defense, Medical, High-tech and Commercial industries.
Excelus will be ISO 9001:2015 & ITAR registered and will continue to serve as Sky Peak’s acquisition vehicle in the precision manufacturing space. Future growth opportunities will target additional machining capabilities as well as sheet metal, fabrication and additive manufacturing.
Founded over 70 years ago, Hicks Machine is an ISO 9001 certified provider of tight tolerance, precision machining services. Under the leadership of Randy Hicks and General Manager Chuck Lipps, Hicks has become known for its ability to handle mission critical components with the utmost quality for some of the most demanding industries.
“We’re excited to partner with Sky Peak and launch the new Excelus platform,” said Chuck Lipps, General Manager of Hicks. “We look forward to building a one-stop, turn-key solutions provider focused on cutting edge technologies in engineering, machining, fabrication and beyond at a critical time in the lifecycle of U.S. manufacturing.”
“Randy and Chuck have truly dedicated their careers to building a differentiated manufacturing partner for their customers and I’m incredibly excited to build upon that foundation,” said Mike Burke, Managing Partner at Sky Peak. “We look forward to continuing the Hicks family legacy of excellence by deepening and broadening our service offering to our new and existing customers.”
Burke continued, “We believe the Northeast, with its deep industrial background, housing some of the top universities in the world, is poised to lead the charge in the renaissance of U.S. manufacturing excellence. We are excited by the ample opportunities we see for investment in best-in-class, peer-leading businesses and through Excelus will look to partner with leading companies & institutions to drive innovation and growth in the technologies of tomorrow.”
Sky Peak was advised by BakerHostetler and Gallagher, Flynn & Co.
About Sky Peak Capital
Sky Peak is a New England-based private equity firm focused on founder-led businesses with $2-10mm of revenue in manufacturing, industrial and B2B service businesses. The firm seeks to partner with founders to unlock meaningful value for all stakeholders and looks for inefficiencies of scale at an individual company level that can be substantially enhanced through unified ownership.
About Hicks Machine
Hicks Machine is an ISO 9001 certified, second generation, precision machine shop located in Walpole, NH. The company has been in continuous operation for over 70 years and provides a broad array of parts to a large variety of customers including those in the Aerospace & Defense, Medical, Microwave & Commercial industries.
Sky Peak Capital