NewSpring Mezzanine Capital Announces Investment in Domaille Engineering
December 15, 2016
Radnor, PA – December 15, 2016 - NewSpring Capital, a family of private equity funds providing growth and expansion capital, announced today that NewSpring Mezzanine Capital ("NewSpring"), the Firm’s dedicated mezzanine fund, has made an investment in Domaille Engineering, LLC (“Domaille”) to support the acquisition of the Company by Onward Capital and Thompson Street Capital Partners. NewSpring co-invested with ORIX Mezzanine & Private Equity in the investment.
Located in Rochester, MN, Domaille is a technology company committed to product leadership, customer intimacy and operational agility. The Company’s Optical Products division designs and manufactures industry-leading polishing machines and fixtures, inspection equipment and associated engineered products for the rapidly-growing fiber optic cable market, while Domaille’s Precision Services division engineers and manufactures complex, mission-critical products for the defense, aerospace, national security, telecommunications, energy and medical sectors.
Tim Kanne, President of Domaille, said “We are delighted to take this step forward with our new partners, including Kristin and the NewSpring team, to expand upon our goals. Their strategic and financial resources will help us to achieve our shared vision of growth while maintaining our standing record of success for quality and service.”
“We look forward to working with Tim Kanne and the leadership team to help Domaille achieve their growth goals,” said Kristin Lee, NewSpring Principal. “The Company has a great reputation and an impressive record of success and we are excited about this partnership.”
About Domaille Engineering
Domaille Engineering, LLC is a worldwide provider of innovative engineering solutions and precision manufacturing services to high-tech industries and a leading OEM of optical fiber polishing equipment. Domaille Engineering is a three-time winner of the prestigious U.S. Chamber of Commerce’s blue ribbon DREAM BIG small business award. This award recognizes the top 100 U.S. small businesses for demonstrating exceptional business practices in several areas including strategic planning, employee development, community involvement and superior customer service. Established in 1990, Domaille Engineering is headquartered in Rochester, Minnesota. For more information, visit www.domailleengineering.com.