Joshua Partners announced that Precision Engineered Technologies, LLC, the company's precision machining platform arm, acquired Imperial Machine and Tool Company. Joshua Partners is a leading investment firm that handles middle market companies. Imperial Machine and Tool Company, with headquarters in Wadsworth, Ohio, is a foremost precision boring and machining company.

"The team at Imperial has built the Company into a leading provider of turning, milling, and boring of rough steel into finished parts,"  said Charles Corpening, Chairman and Founder of Joshua Partners. "We are confident that with a stable source of capital and additional expertise from Joshua Partners we can work with Precision's strong management team to further grow the Company."

"Our exciting partnership with Joshua Partners will help accelerate our growth initiatives in existing and new markets, allowing us to achieve the ideal scale to exploit even more meaningful growth opportunities," said Brian K. Murray, President of Precision Engineered Technologies.