TURNOUT INVESTS IN ALLWAYS PRECISION
CHICAGO, IL (February 16, 2022) – In conjunction with investment partners Plexus Capital and Equity Visions, Turnout Industries announces the acquisition of Allways Precision, LLC. Allways is the preeminent rebuilder of centerless grinding machines in the US, Europe and across the Pacific Rim. Allways represents Turnout’s second platform investment since its formation in May 2021.With a commitment to the highest levels of quality and customer service, Romas Juodvalkis and his team have built Allways from a start-up in the early 1990s to become the leading global servicer and provider of reconditioned centerless grinding machines. In preparing for retirement, Mr. Juodvalkis selected Equity Visions President Mark Redding to buy and lead his company through its next stage of development. Turnout Industries, whose founders have previously invested with Mr. Redding, and Plexus Capital joined Mr. Redding in completing this acquisition.Turnout, Plexus and Equity Visions have a mutual interest in supporting and building middle market manufacturing and service companies and are committed to retaining the values for which Allways Precision has stood since its inception 29 years ago. With a balance sheet capitalized for growth, Mr. Redding and the company’s management team will seek to build on Allways’ leadership position and accelerate growth in the US and abroad. For more information regarding Allways, visit www.allwaysprecision.com.
ABOUT TURNOUT INDUSTRIES
Turnout Industries is a Chicago-based diversified holding company targeting investments in companies with $5-50 million of revenue and at least $1 million of EBITDA. From its committed capital base, Turnout provides both equity and subordinated debt to companies in the business services, manufacturing and distribution/logistics categories. Turnout seeks to build long term value through investments in management teams, company infrastructure and strategically additive acquisitions. With the benefit of a flexible timeline, Turnout will seek to build value over extended periods tailored to each specific company’s opportunities. For more information regarding Turnout, please visit www.turnoutindustries.com.
ABOUT PLEXUS CAPITAL
Plexus is a North Carolina-based investment firm that partners with leaders of small businesses to help facilitate growth and create jobs. Since 2005, Plexus has invested more than $1.5 billion in over 140 companies throughout the United States. The Plexus team consists of 33 professionals with offices in Raleigh and Charlotte. For more information regarding Plexus, please visit www.plexuscap.com
ABOUT EQUITY VISIONS
In addition to being an independent sponsor, Equity Visions provides a variety of advisory services, to middle market manufacturing companies, that contribute to strategic thinking, operations improvement and organizational development. For more information regarding Equity Visions, please visit www.equityvisions.com.