Compass Partners Announces New Board for Micro Precision LLC

July 18, 2019


Compass Partners Capital (“Compass”) is pleased to announce the appointment of a high caliber Board of Directors to help lead Micro Precision LLC (“MPI”) during an important time for the United States submarines program. MPI is a tier-one Level 1/Sub-Safe supplier of critical components for the U.S. Navy’s Virginia Class and Columbia Class submarines.

“As active investors, Compass believes the combination of a strong management team with a highly credible Board will help ensure that MPI is well-positioned to serve its customers and the United States Navy,” said James Waters, Compass’ Chief of Staff and former US Navy SEAL Platoon Commander, who will serve as a Compass director on the Board. “We think MPI can serve as a model for advanced manufacturing in important pockets of the country like Connecticut. Each of our Board members brings an extremely relevant skill set that will be a value-added resource for management and help MPI scale its strong reputation for zero-defect, on-time delivery of critical components.”

Radek Kozlowski, a Compass Managing Director and a mechanical engineer with extensive M&A, management, and technical experience with manufacturing and industrial companies, said: “Compass is excited to partner with these esteemed directors. With the Virginia Class submarine Block V and Columbia Class submarine procurement beginning soon, MPI is positioned for growth and Compass will work to support the company through what is expected to be an unprecedented period of expansion. We believe MPI has tremendous potential to solve a number of the supply chain problems that the prime contractors, the US Navy, and the Pentagon are working through.”

The Board will also include:

  • Vice Admiral John Morgan (Ret.), the Chairman and former CEO of Nobles Worldwide, a 36-year Navy veteran who served as a key advisor to the Secretary of the Navy, Chief of Naval Operations and Chairman of the Joint Chiefs of Staff. 
  • Walker Stapleton, the President and CEO of real estate investment firm Sonoma West Holdings, former two-term Colorado State Treasurer, and the 2018 Republican nominee for Governor of Colorado. 
  • Paul Finnegan, the founder of North Manitou Partners, a lower middle market investment firm. 
  • Phil Cagnassola, the founder of Frasier Capital LLC, a firm exclusively focused on growing “little leaders” by leveraging human and financial capital, a 20-year veteran of the private equity industry, former partner at Hamilton Robinson, and director/executive for numerous private-equity owned companies. 
  • Bob Mongell, the founder & CEO of MPI. 

Vice Admiral Morgan stated: “In this new era of great power competition and the potential spread of nuclear weapons, strategic deterrence is of utmost importance for our national defense.  MPI is a vital supplier in America’s Submarine Industrial Base that produces the nation’s nuclear deterrence.  The next generation of our Navy’s submarine force, to include nuclear powered ballistic missile submarines, will continue to rely on MPI.”

Finnegan stated: “We believe long-term, flexible capital is often a key ingredient in supporting growth of companies like MPI.” Stapleton added: “As patriotic investors, we feel there is no better place to invest than in the long term national security of the United States.”

The transaction will close in late July.

Compass Partners to Purchase Micro Precision LLC

June 27, 2019


Compass Partners Capital LLC (“Compass”) is pleased to announce the signing of a definitive merger agreement to purchase Micro Precision LLC (“MPI”) of South Windham, CT.  The Company is a tier-one Level 1/Sub-Safe supplier of critical components for the U.S. Navy’s Virginia and Columbia class submarines. 

Stephen Waters, Compass’ Managing Partner said: “MPI serves an important role in supplying critical components for our Navy’s submarine force.  Compass is excited to partner with the management team at MPI to support its future growth.” He continued: “Compass and its partners represent a new class of patriotic investors who are deeply committed to the national security of the United States and the vitality of the submarine supplier base in Connecticut and elsewhere around the nation.”

Bob Mongell, MPI’s co-founder and Chief Executive Officer added: “Our team and Compass look forward to supporting Electric Boat and Newport News in the rebuilding and expansion of the US submarine fleet – the highest priority in America’s defense budget.”

Compass, located in Stamford, CT, focuses on defense and aerospace-related investments.