Today, Hancock Park Associates and Next Point Capital announced that they acquired Sheffield Manufacturing. Sheffield Manufacturing was the foremost North American maker of precision-machined parts for the industry of aerospace. No financial terms regarding the deal were revealed.

A Los Angeles investment bank and wealth supervision firm, Salem Partners, provided the advice for Sheffield in the said agreement.

Sheffield Manufacturing was based in Los Angeles, California. It produced and delivered high-quality parts for commercial and military aircraft clients. Boeing, Lockheed-Martin, and Northrop Grumman were some of its patrons.

Conversely, HPA was a private equity firm in Los Angeles with about US$400 million investments in middle market corporations since 2002.

"We are excited about the opportunity to partner with HPA and NXT, which have an in-depth understanding of our business and industry. We are very pleased to have long-term oriented and experienced strategic investors that will support our strategy of producing high quality products," Gene Ruddy, CEO of Sheffield, stated.

"We are thrilled to invest in such a high quality company. The Company is well-positioned within the industry and we are very bullish on the Company's future prospects," Sr. Managing Partner of Hancock Park Associates, Mike Fourticq, said.