Townsend Street Capital Announces Partnership with Swiss American Screw Products
Updated: Jan 5
Townsend Street Capital (“TSC”), a lower middle-market private equity firm based in Birmingham, MI, with offices in Cleveland, OH, is pleased to announce the majority recapitalization of Swiss American Screw Products (“SASP” or the “Company”). SASP, based in Canton, MI, specializes in precision machining on Swiss-type equipment for aerospace & defense, medical, and other specialized industrial end markets. The Company focuses on small diameter, tight tolerance components for “mission-critical” applications using a variety of metals including stainless steel, aluminum, and titanium.
The Company currently serves over 75 customers including several industry-leading companies in their respective markets and can accommodate orders ranging from prototypes to volumes of more than 50,000 parts.
TSC is partnering with SASP’s President, Robert Leist, who will continue in his role and maintain a meaningful ownership position in the Company. Mr. Leist commented, “We are excited to announce our transaction with Townsend Street Capital. Being a family-owned business for over 60 years, it was important to find a partner who would not only ensure long-term business continuity, but who recognizes the culture of SASP and its importance to our customers, suppliers, and employees. I look forward to leveraging TSC’s industry experience, relationships, human capital, and energy to help foster the next phase of growth for the Company.”
TSC Managing Director, Peter Frankfort stated, “We are thrilled to align with Rob and the entire SASP team. SASP possesses many if not all of the attributes we look for in our investments, including a strong leader and culture, focused and differentiated capabilities, long-term customer relationships in attractive end-markets, and exceptional dedication to quality and customer service.”
SASP will be an investment within Townsend Street Capital Fund I, L.P.
Peter Frankfort, Managing Director
Brian Hock, Managing Director
Charles Zalud, Vice President