Precision Aerospace Holdings, LLC continues rapid growth with acquisition of Clearwater Engineering

Dallas-based Precision Aerospace Holdings, LLC, a leading manufacturer of next-generation aerospace machining and defense components, has acquired Kansas-based Clearwater Engineering. The move positions Precision for extended reach across the Midwest for additional market clients and segments.

Clearwater Engineering, based in Derby, Kansas, just outside Wichita, provides precision machining, computer numerical control (CNC) milling, and supply chain management services supporting the commercial and government aerospace sectors. The company has served the aerospace industry since 1987 and has established itself as a leader in CNC milling and turn-lathe high-volume machining. Clearwater has approximately 40 employees; the current leadership team will remain in place.

“This new combination provides tremendous opportunities for our employees and our community,” said David Cool, president and owner of Clearwater Engineering. “By joining Precision, we can provide greater competencies with our experience, knowledge, and manufacturing operating capabilities to exceed our customers' requirements for quality, delivery, and costs well into the future.”

Precision’s acquisition of Clearwater Engineering marks the platform's third acquisition in the last two years and the fifth since it was formed through the partnership of two Dallas-based private investment firms, CIC Partners and Juniper Capital Management. Most recently, Precision acquired Owens Machine and Tool Company, located in Lewisville, Texas, in 2024, and Decatur Machine Services, located in Decatur, Texas, in 2023.

“Under David’s leadership, Clearwater Engineering has grown to become a force in aerospace manufacturing,” said Pete Stegmaier, CEO of Precision Aerospace. “Clearwater’s expert-level work in additional complex machining will help us reach additional market segments, such as commercial aerospace, business jet, and defense customers across the Midwest, and open us up to national expansion.”

After the latest acquisition, Precision Aerospace boasts approximately 140 employees in five AS9100- and ITAR-certified U.S. locations working on aerospace, defense and space component machining and assembly projects. Precision continues seeking strategic, targeted investment opportunities across Texas and the Midwest.

“By combining Clearwater’s compelling leadership team with Precision’s best practices and resources, our platform can better serve the entire aerospace and defense community,” said Bayard Friedman, Precision board chairman and managing director with CIC Partners.

As part of the agreement, Precision Aerospace is leasing Clearwater’s two climate-controlled facilities in Derby’s West Industrial Park from Cynergy Enterprises LLC (owned by Cool). These facilities have a combined area of 35,000 square feet on nearly 13 acres and room for expansion by an additional 100,000 square feet. The company will also continue to utilize its cutting-edge verification and tool management systems, such as CATIA, MASTERCAM, VERICUT and TDM, for setup and tool management standardization.

“This deal propels Precision Aerospace into a place of prominence in this industry given the best-in-class capabilities and reputation Clearwater already possesses,” said Bryan Grabowsky, co-founder and managing partner at Juniper.

Brian Henderson, a Dallas-based partner at Baker Botts, and Brent Beckert, a Dallas-based partner at Haynes Boone, provided legal counsel to Precision in the transaction. Scott Shedd, CEO of Shedd Capital, served as a buy-side adviser to Precision in the deal, as he has for two previous Precision acquisitions.

Terms of the deal were not disclosed.