Daily News: October 29, 2012

H.I.G. Capital Completes Sale of Texas Honing

Private equity investment firm H.I.G. Capital announced it has completed the sale of Texas Honing (THI), a producer of high precision components used in oilfield drilling, completion, and production systems worldwide.

After the transaction, the company will be included in the forged products segment of Precision Castparts Corporation.

“H.I.G. has been a valuable partner and sounding board for the THI management team. We have appreciated their guidance on strategic and financial initiatives as well as their support of the company’s growth ambitions,” said Robert Steele, CEO of THI.