Midstate Machine

What Midstate Machine does

Midstate Machine is a US precision machining and fabrication manufacturer operating as a division of Precision Holdings LLC, a portfolio company of Insight Equity since 2014. The company produces complex, mission-critical components and assemblies for the aerospace, defense, power generation, and oil and gas industries, serving OEM and Tier-1 customers that include Lockheed Martin (F-35/F135 engine rotating hardware), Honeywell (HTF7000), GE Aviation, GE Power, P&W Raytheon, and others. It operates three Centers of Excellence across Winslow, ME (Defense and Industrial Gas Turbine), Cincinnati, OH (Commercial and Military Aerospace), and Phoenix, AZ (Aerospace Small Parts, acquired from Barnes Aerospace in October 2022), totaling more than 250,000 square feet and over 41 multi-axis CNC machining centers capable of producing parts from 1 inch to 140 inches and up to 30 tons in weight.

The core technology stack centers on precision CNC machining, fabrication, and special processes (NADCAP-certified welding, FPI/NDT, EDM, cladding, laser welding, robotic shot peening, anodize/plating) in specialty alloys including magnesium, titanium, aluminum, and Inconel. Midstate commercializes a proprietary broach-alternative process called Fir Tree Technology for disc dovetail slots, holds multiple aeroengine/aerostructure patents via its CEO, and is the exclusive machining partner for Norsk Titanium's Rapid Plasma Deposition (RPD) additive-manufactured titanium structural components, positioning the firm in the aerospace AM supply chain.

Midstate generates revenue through B2B contract manufacturing on a quote-based pricing model with no public disclosure of rates. The business operates two complementary modes: full-rate production positions on strategic military and commercial platforms (F-35, A320) and high-mix/low-volume legacy programs for defense, power generation, and oil and gas customers. Customer concentration is high and skewed toward large aerospace and defense OEMs, and revenue visibility is anchored by long-cycle platform programs, NADCAP/ITAR/AS9100 certifications that act as switching-cost barriers, and recurring requalification work on legacy parts.

Name

Midstate Machine

Legal name

Midstate Machine (d.b.a. Mid-State Machine Products, McSwain Manufacturing and Precision Holdings, LLC)

Website

https://midstateusa.com

Company type

Private

Operating status

Operating

Headcount range

251–500 employees

Short description

Midstate Machine is a US precision machining and fabrication manufacturer producing complex, mission-critical components for aerospace, defense, power generation, and oil and gas OEMs (Lockheed Martin, Honeywell, GE Aviation) across three Centers of Excellence in Maine, Ohio, and Arizona.

Ownership category

akta.pro rank

Product category

Aerospace Precision Machining and Manufacturing

NAICS

Machine Shops (332710), Aerospace Product and Parts Manufacturing (33641)

SIC

General Industrial Machinery & Equipment, Nec (3569)

akta.pro primary industry

CNC Machine Tools (Turning, Milling, Machining Centers) (IMAHADAA)

akta.pro secondary industry

EDM & Electrochemical Machining (Wire/Sinker EDM, ECM) (IMAHADAF)

Keywords

• Precision machining services
• Aerospace components manufacturing
• Defense parts fabrication
• CNC machining
• Turbine component manufacturing

Headquarters

HQ city

Cincinnati

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Precision Manufacturing Services: Turnkey manufacturing solutions including engineering, machining, fabrication, assembly, finishing and test services for complex, mission critical parts for aerospace, defense, power generation, and oil & gas industries.
2. Production Programs: Full rate production programs supporting F-35 and A320, as well as high mix/low volume legacy programs for defense and industrial markets.
3. Additive Manufacturing Services: Post-processing and precision machining of Norsk Titanium's RPD-produced near-net-shape titanium components for aerospace applications.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

Midstate Machine (Division of Precision Holdings LLC) is a precision machining and fabrication manufacturer that provides turnkey solutions for complex, mission-critical parts through a full suite of engineering, machining, fabrication, assembly, finishing, and test services. The company operates more than 41 multi-axis CNC machining centers capable of producing parts from 1 inch to 140 inches and up to 30 tons in specialty materials such as magnesium, titanium, aluminum, and Inconel. It serves the military and commercial aerospace, defense, power generation, and oil & gas industries through direct relationships with major OEM customers including Lockheed Martin, GE Aviation, and Honeywell.

Product overview

Midstate Machine (Division of Precision Holdings) is a precision machining and fabrication company providing turnkey solutions through a full suite of services including engineering, machining, fabrication, assembly, finishing, and testing. The company operates Centers of Excellence in Maine (Defense and Industrial Gas Turbine products) and Ohio (Commercial and Military Aerospace), with a third facility in Phoenix focused on Aerospace Small Parts. Key product offerings include precision CNC machining of components up to 140 inches in specialty alloys, proprietary Fir Tree Technology for dovetail slot manufacturing, and additive manufacturing capabilities through a strategic partnership with Norsk Titanium using Rapid Plasma Deposition for near-net-shape titanium components. The company serves aerospace, defense, power generation, and oil & gas industries.

Differentiator

Problem solved

Functional benefit

Brands

• Fir Tree Technology: Broach alternative for small to mid-range disc dovetail slots developed by Midstate Machine
• Additive Manufacturing

Products and services

• Precision Machining Services CNC machining of complex components up to 140 inches and 30 tons, supporting specialty materials including magnesium, titanium, aluminum, and Inconel. Services include 5-axis high-speed milling, multi-axis turning, EDM, grinding, fabrication, assembly, testing, and inspection for aerospace, defense, power generation, and oil & gas customers.
• Precision Fabrication and Assembly Turnkey supply chain management including X-ray, EDM, cladding, laser, and sub arc welding, plus full assembly, finishing, and testing services for complex, mission-critical parts.
• Special Processes Surface treatments and processing including chromic/boric/sulphuric anodize, CAD plating, aluminum/titanium etching, Alochrome and Alodine treatments, NADCAP heat treat, brazing, wire EDM, laser weld/drill, prime paint, robotic shot peening, passivation, and salt spray.
• Fir Tree Technology Proprietary broach alternative for small to mid-range disc dovetail slots that enables quick manufacturing of new hardware without long lead times for broach tools, with ability to switch between parts within hours. In production on multiple OEM aerospace products.
• Additive Manufacturing (Norsk Titanium Partnership) Strategic partnership with Norsk Titanium providing Rapid Plasma Deposition (RPD) technology for near-net-shape titanium aerospace-grade structural components (Ti64), enabling machining of titanium components that replace traditional forgings for commercial and defense aerospace applications.
• Nondestructive Testing (NDT) Services NADCAP-certified fluorescent penetrant inspection (FPI) and other nondestructive testing services for quality assurance of manufactured components.

Quantifiable outcome

• Parts ranging from 1 inch to 140 inches
• +2 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered minor and core.

• Advisory AerominorStrategic or Co-development Partner · 1 February 2023Operational Excellence Initiative partner. Ric Page joined as Director of IT with initial priorities including completing system integration of Midstate Phoenix and championing the Operational Excellence Initiative with partner Advisory Aero.
• Norsk TitaniumcoreStrategic or Co-development Partner · 1 March 2016In March 2016, Insight Equity/Precision Holdings entered into a strategic partnership with Norsk Titanium. The partnership allows Midstate Machine to machine all of NTi's global RPD-produced titanium components, access printed NTi material for sale into end markets, and enables both companies to offer the AM market a full range of capability for small, medium and large components.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Ducommun Incorporated: Ducommun is an aerospace and defense manufacturing services provider offering engineering, precision machining, fabrication, and assembly of structural and electro-mechanical components for commercial and military aerospace primes — directly comparable to Midstate's turnkey mission-critical parts business and overlapping customer base (Lockheed Martin, Raytheon, Boeing, Airbus).
• Loar Holdings Inc. Loar Holdings is a niche aerospace components holding company focused on proprietary, sole-source parts for aircraft and engine applications across commercial and business jet platforms. Its business model of acquiring and growing niche aerospace parts businesses makes it both a peer to Midstate's small parts operation and a comparable PE-backed aerospace roll-up story.
• Barnes Group Inc. Barnes Group is a diversified industrial manufacturer with an aerospace precision components business and was the former parent of Barnes Aerospace, whose Phoenix operating unit Midstate acquired in October 2022. It is the most direct historical peer to Midstate's precision machined aerospace components business.
• CPI Aerostructures: CPI Aerostructures is an aerospace structural parts manufacturer providing assembly, kitting, and integration solutions for military and commercial aerospace programs, including legacy fighter and rotorcraft platforms. The business model — programs for primes, NADCAP-level quality, and complex structural assemblies — closely mirrors Midstate's model.
• Triumph Group: Triumph Group is a Tier-1 aerospace manufacturer with extensive capabilities in complex machining, fabrication, and assembly of structural and mechanical components, serving the same Boeing, Airbus, and major defense primes as Midstate. It is the most direct large-cap peer for Midstate's full-rate production programs and complex assemblies business.
• Kaman Corporation: Kaman is an aerospace components and systems manufacturer with precision machining and assembly capabilities serving fixed-wing, rotary-wing, and defense programs. Its portfolio of mission-critical aerospace parts and engineered products makes it a direct mid-cap peer to Midstate's defense and aerospace segments.
• Moog Inc. Moog is a precision motion control products and systems manufacturer with significant aerospace machining and assembly capabilities serving commercial and military platforms. While broader than Midstate, its high-precision manufacturing of flight-critical components and direct OEM customer relationships make it a relevant comparator.

Broad incumbents

• Howmet Aerospace: Howmet Aerospace is a major aerospace structural castings, fasteners, and components manufacturer serving engine and airframe OEMs. As a Tier-1 incumbent in aerospace mission-critical parts, it represents the upper-bound scale of Midstate's served market, particularly for engine rotating and structural parts.
• Mercury Systems: Mercury Systems is a defense electronics and mission-critical subsystems provider that has expanded into mission-critical aerospace processing hardware. While primarily electronics-focused, it is a relevant broad incumbent peer for a PE-backed supplier serving defense primes with mission-critical content.
• TransDigm Group: TransDigm is a large aerospace components conglomerate with proprietary sole-source parts and subsystems across virtually all major commercial and military aerospace platforms. It is a broad incumbent peer reflecting the destination scale of a successful aerospace parts business but operates with a very different portfolio breadth and capital structure than Midstate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/midstateusa
• LinkedInlinkedin.com/company/midstatemachineusa

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Midstate Machine