L Squared Capital Partners and ERA Industries add Gen El Mec Associates

Newport Beach, CA based L Squared Capital Partners in partnership with its newly added portfolio company, Chicago-based ERA Industries completed the acquisition of Gen El Mec Associates Inc of Oxford, CT (GEM). This acquisition shortly follows the acquisition of ERA in June by L Squared.

GEM is a 63-year-old, second generation precision machining company located in the heart of New England.

GEM got its start like most manufacturing companies do, with a few key relationships in industry and opportunities to create value within obscure pockets of the supply chain. Today, GEM is an essential machined components supplier to dozens of critical technologies within the Aerospace and Semiconductor markets. In its 30,000 sf facility in Oxford, GEM employs nearly 50 people and boasts state of the art machinery and equipment, creating the opportunity for GEM to deliver a quality signature that has been embraced and highly valued by some of the largest and most sophisticated companies in the world.

Hubert Bieniewski, President of ERA remarked, “GEM is a perfect compliment to what we do at ERA”. He further noted that, “GEM’s quality is remarkable and their ability to partner with their customers on the design for manufacturing and development process is unusually strong”.