Waukesha’s Ray Industries bought by investment firm

Freeman Staff

May 4, 2015

WAUKESHA —Ray Industries, a precision parts and components manufacturer in Waukesha, has been acquired by a platform of Joshua Partners, a leading investment firm focused on lower middle market companies.

As part of the agreement, Precision Engineered Technologies, LLC has acquired controlling interest in Ray Industries LLC, according to Monday’s announcement. The Waukesha company uses roll-threading technology for the aerospace, defense, medical, industrial and energy industries located at 515 Frederick St.

“We are excited about our new partnership with Precision and Joshua Partners,” said Raymond Fish, founder of Ray Industries, in a statement. “We have known the Precision management team for years and their commitment to customer service and quality and their 30 year knowledge with Roll Threading will assist the company in taking the next needed growth steps. We look forward to working with Precision and Joshua Partners to realize our full growth potential.”

Founded in 2007, Joshua Partners is a non-traditional private equity firm dedicated to finding and partnering with talented management teams with a strong vision of growth, either internally through new product development or capacity expansion or externally via add-on acquisitions.

“Raymond Fish and his team have built the company into a world class provider of high-tech precision machined components utilizing state of the art roll-threading technologies developed by the company over the past 40 years,” said Charles Corpening, the chairman and founder of Joshua Partners, in a statement. “The company provides Precision additional customer diversification while helping to accelerate our internal growth initiatives in existing markets through greater scale and capability.“