Arc Drilling, Inc. has been recapitalized by Washington Equity Partners

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Washington Equity Partners (“Washington Equity”), a private equity firm based in the Washington DC area, announced a recapitalization of Arc Drilling (the “Company”).  Headquartered in Cleveland, Ohio, Arc Drilling is a leading provider of electrical discharge machining (EDM) solutions to the industrial gas turbine and aerospace engine markets.

Founded in 1961, Arc Drilling’s capabilities include Fast Hole EDM, Wire EDM and Sinker EDM.  The Company has a long history of industry-leading production, quality, and turnaround times, and it performs EDM services on over 200,000 parts per year for a diversified customer base that includes GE, Parker Hannifin, Precision Castparts, Swagelok and Woodward.  With facilities in Cleveland, OH, Greenville, SC, and Charleston, SC, Arc Drilling is strategically positioned near major industrial gas turbine and aerospace engine manufacturing centers. 

Washington Equity Partners is a sector-focused private equity firm that makes control equity investments in established lower middle market businesses with strong prospects for rapid organic and acquisition-driven growth.  The firm is headquartered in McLean, VA and is focused on investing in: Aerospace, Defense, and Government Contracting, Industrial and Advanced Manufacturing, and Software and Technology. 

EdgePoint is a leading investment banking firm focused on providing middle market business owners with merger and acquisition advisory services.

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