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March 30, 2021

Compass Precision Purchases Douglas Machining Services

Main Street Portfolio Company Acquires Fifth Operating Division

PITTSBURGH, PA – March 30, 2021 – Main Street Capital Holdings, LLC, a Pittsburgh-based private equity firm, is pleased to announce the acquisition of Douglas Machining Services, LLC, by its portfolio company, Compass Precision, LLC.  Douglas Machining is a leading manufacturer of precision metal components based in Winona, MN.

Douglas Machining Services is the fifth operating company for Compass Precision.  Compass plans to integrate and support Douglas in the same manner as it has with its other divisions.  Operating companies are supported by centralized platform resources which provide strategic guidance, operational expertise, sales and marketing support, as well as other administrative support services.

Douglas Machining is home to state-of-the-art equipment, a highly skilled workforce, and an outstanding management team.  Manufacturing capabilities including advanced CNC milling, CNC turning, vertical milling, CNC lathes, and EDM services.  Douglas services a large customer base in industrial and specialty markets located in the upper Midwest and throughout the United States.

“We are thrilled and excited to be joining forces with Dan Douglas and the wonderful company he has built in Winona,” explained Gary Holcomb, Compass’s President and CEO.  “Dan and his team share Compass’s passion for serving customers extremely well in the machining of complicated, close tolerance parts.”

Ryan Davis, Managing Partner of Main Street commented, “It’s been a pleasure to work closely with the Compass management team to source, acquire, and integrate another add-on acquisition.  Finding complementary add-on opportunities that fit with Compass’s culture and can benefit from Compass’s platform resources are key elements of our strategy.”

Dennis Prado, Managing Partner of Main Street noted, “Douglas Machining is Compass’s first acquisition outside of the Southeast which supports our objective to expand geographically.  We’re still seeing a lot of add-on opportunities amid the COVID-19 pandemic.  We will remain selective and focus on only the highest quality opportunities for Compass.”

Compass Precision will continue to look to acquire companies with complementary products, end-markets, geographies, or manufacturing capabilities.  Of particular interest are companies with advanced production capabilities, strong management teams, recurring projects, and high growth end-markets.