Company Description
Firstar Precision Corporation operates as an ISO 9001:2015 certified precision machining business that specializes in the turning, milling, and electrical discharge machining of tight-tolerance products primarily for the assembly tooling, food processing, and medical industries.
Services Provided
MelCap Partners served as Firstar’s exclusive investment banker and financial advisor in the sale of the Company. We would like to thank Firstar’s Shareholder, Dave Tenny, for hiring MelCap Partners to represent him in this important transaction. It was an honor and pleasure to work with him and his team through this exciting process.
The Result
In an effort to provide Mr. Tenny with liquidity, and to continue to support Firstar’s strategic growth plans, MelCap was able to successfully identify the ideal buyer for the business. As a result, Firstar was sold to Empowered Ventures, headquartered in Carmel, IN. Empowered Ventures buys closely held businesses with track records of success, investing in the long term without any intention of selling. Employees at Firstar will also be a part of Empowered’s ESOP program.
“From the first time I engaged MelCap, I knew I was in good hands and that the sale of my life-long dream would be handled with excellence. I have never experienced a team that works so well together, the personal engagement and genuine care resonated throughout the process. The team kept us informed and updated throughout the process and I believe connected us with a once in a life time partner in Empowered Ventures. The future of Firstar Precision is bright and we all congratulate MelCap Partners on a job excellently done!”
