Key Takeaways
- • ATL Partners has acquired Precise Metal Products (PMP) from Staple Street Capital, marking the first acquisition of its newly formed Precise Aerospace & Defense (Precise A&D) platform.
- • PMP makes metal ducts, inlets and exhaust components for aircraft engines, auxiliary power units and environmental control systems, selling mainly to aircraft and engine OEMs and Tier 1 suppliers.
- • Staple Street Capital held PMP for seven years, having acquired it in September 2019 with Thompson Capital Partners; Houlihan Lokey advised PMP and Staple Street, and Lincoln International advised ATL.
- • Global Market Insights projects the aircraft APU market to grow from about $7 billion in 2025 to $14 billion by 2035 (7.3% CAGR), and the aircraft environmental control systems market from about $3.8 billion to $6.6 billion over the same period.
- • ATL plans to combine organic growth at PMP with add-on acquisitions, with ATL having invested more than $2 billion across eight platforms and 42 add-ons as of end-2025.
Summary
ATL Partners has acquired Precise Metal Products (PMP), a Phoenix-headquartered manufacturer of metal ducts, inlets and exhaust parts for aircraft engines, from Staple Street Capital. The transaction is the first acquisition of Precise Aerospace & Defense (Precise A&D), a new platform ATL has formed to build a manufacturer of complex components for the aerospace, defense and space markets. The sale ends a seven-year hold for Staple Street, which acquired PMP in September 2019 in partnership with Arizona-based Thompson Capital Partners. Financial terms were not disclosed in the source material.
PMP produces exhaust tailpipes, exhaust liners and bell-shaped air inlets for auxiliary power units (APUs), as well as inlet plenums for gas turbine engines and plenum housings for environmental control systems. It sells mainly to aircraft and engine manufacturers and their Tier 1 suppliers, holds long-term agreements supporting narrow-body and wide-body commercial aircraft and defense programs, and makes parts for space applications. Its process runs from flat sheet metal through hydroforming, metal spinning and roll forming, then cutting, machining and joining on five-axis CNC machines, lasers, wire EDM and TIG and resistance welding. Heat treating, chemical finishing, painting, assembly and inspection are performed in-house. Founded in 1957, PMP expanded into defense work in the 1970s and has more than 175 employees under CEO Steve Bangerter.
Bangerter thanked Staple Street for its partnership and said ATL's sector expertise and operating resources would help the company expand production and continue investing in people and equipment. ATL partner Mike Kramer described the deal as an important step toward building a leading provider of mission-critical A&D components through organic growth and disciplined M&A, and said the company would pursue strategic acquisitions across the sector. ATL makes control investments in aerospace and national security and in transportation and logistics; it was founded in 2014 by Frank Nash and is headquartered in New York City. Staple Street Capital, founded in 2010 by Stephen Owens and Hootan Yaghoobzadeh, said it was proud of the partnership and confident its investments in PMP would support continued success.
Market context cited by the source includes Global Market Insights estimates that the US accounted for about $2.4 billion of the global APU market in 2025, expected to reach about $4.6 billion by 2035. Triumph Group, which was taken private by Warburg Pincus and Berkshire Partners in July 2025, is ranked among the top five environmental control system makers by market share. Boeing forecasts nearly 44,000 new passenger and freighter jet deliveries between 2026 and 2045, and Deloitte expects supply chain pressure to persist through at least 2027. Lincoln International advised ATL and Houlihan Lokey advised PMP and Staple Street on the transaction.
PMP produces exhaust tailpipes, exhaust liners and bell-shaped air inlets for auxiliary power units (APUs), as well as inlet plenums for gas turbine engines and plenum housings for environmental control systems. It sells mainly to aircraft and engine manufacturers and their Tier 1 suppliers, holds long-term agreements supporting narrow-body and wide-body commercial aircraft and defense programs, and makes parts for space applications. Its process runs from flat sheet metal through hydroforming, metal spinning and roll forming, then cutting, machining and joining on five-axis CNC machines, lasers, wire EDM and TIG and resistance welding. Heat treating, chemical finishing, painting, assembly and inspection are performed in-house. Founded in 1957, PMP expanded into defense work in the 1970s and has more than 175 employees under CEO Steve Bangerter.
Bangerter thanked Staple Street for its partnership and said ATL's sector expertise and operating resources would help the company expand production and continue investing in people and equipment. ATL partner Mike Kramer described the deal as an important step toward building a leading provider of mission-critical A&D components through organic growth and disciplined M&A, and said the company would pursue strategic acquisitions across the sector. ATL makes control investments in aerospace and national security and in transportation and logistics; it was founded in 2014 by Frank Nash and is headquartered in New York City. Staple Street Capital, founded in 2010 by Stephen Owens and Hootan Yaghoobzadeh, said it was proud of the partnership and confident its investments in PMP would support continued success.
Market context cited by the source includes Global Market Insights estimates that the US accounted for about $2.4 billion of the global APU market in 2025, expected to reach about $4.6 billion by 2035. Triumph Group, which was taken private by Warburg Pincus and Berkshire Partners in July 2025, is ranked among the top five environmental control system makers by market share. Boeing forecasts nearly 44,000 new passenger and freighter jet deliveries between 2026 and 2045, and Deloitte expects supply chain pressure to persist through at least 2027. Lincoln International advised ATL and Houlihan Lokey advised PMP and Staple Street on the transaction.
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