IPM

What IPM does

IPM (International Precision Machining, Inc.) is a privately held, family-owned precision machining and gear cutting job shop founded in 1992 in Waite Park, Minnesota. The company manufactures customer-designed, tight-tolerance precision components and gears — including spur, helical, sprocket, planetary, and spline gears, plus shafts and housings — primarily for OEM powertrain applications across eight end-markets: aerospace and defense (including U.S. military), construction, mining, agriculture, high-performance automotive, forestry, oil and gas, and recreational equipment. Its technical capabilities span CNC turning (up to 30-inch diameter, .0001-inch tolerance), horizontal and vertical milling (work envelope up to 41 x 31 x 34 inches), CNC grinding (.0004-inch tolerance, 10RA surface finish), and full-spectrum gear manufacturing (gear grinding, hobbing, shaping, shaving, broaching, ID/OD grinding) with AGMA quality levels of 12 or better achievable. Quality is supported by first-article and in-process inspection using a Zeiss Contura CMM and SPC at the machine, backed by dual AS9100D and ISO 9001:2015 certification.

IPM operates a direct, relationship-based sales model, taking in customer designs and specifications via a quote-based RFQ process and producing make-to-order parts under project-based contracts. Pricing is not publicly disclosed and is determined per part by complexity, materials, tolerances, and volume. The company has steadily reinvested in capital equipment since 2020 — adding Mitsubishi, Kapp Niles, Okuma, Nidec, Doosan, Palmary, and Zeiss assets — and serves OEMs across the United States, Mexico, Canada, and Europe from a single Minnesota facility with 11–50 employees. Leadership transitioned in recent years from co-founder Dan Meyer to his son Eric Meyer as President, with co-founder Larry Wilson continuing as VP of Operations, formalizing second-generation family stewardship of the business.

Name

IPM

Legal name

IPM, Inc.

Website

https://ipminc.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

11–50 employees

Short description

IPM (International Precision Machining) is a family-owned, AS9100D-certified precision machining and gear cutting job shop founded in 1992, manufacturing tight-tolerance custom components for OEM powertrain applications across aerospace/defense, construction, mining, agriculture, and industrial markets in the US, Mexico, Canada, and Europe.

Ownership category

akta.pro rank

Headquarters

HQ city

Waite Park

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Custom Precision Machined Components: IPM manufactures customer-designed, precision-machined components on a job-shop/make-to-order basis. Customers provide designs and specifications, and IPM produces custom components primarily for powertrain applications. Revenue is generated through project-based manufacturing contracts with pricing determined by complexity, materials, tolerances, and volumes through quote requests.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

IPM manufactures custom precision machined components and gearing for original equipment manufacturers (OEMs). The company operates as a full-service contract manufacturer providing milling, turning, grinding, and gear cutting services, supported by in-house quality assurance and engineering capabilities. Its parts are used in aerospace, defense, construction, mining, agriculture, high-performance automotive, forestry, oil and gas, and recreational equipment applications.

Product overview

IPM (International Precision Machining) is a precision machining and gear cutting company founded in 1992, offering custom-designed precision-machined components primarily for powertrain applications. The company's core offering is custom precision machine components, supported by five manufacturing capabilities: Gearing (spur, helical, sprocket gears, specialty gears, shafts, planetary gears with grinding/hobbing/shaping services), Milling (horizontal and vertical machining centers up to 41"x31"x34" work envelope), Grinding (CNC OD/ID/surface grinding to .0004" tolerances), Turning (CNC turning up to 30" diameter with .0001" tolerances), and Quality Assurance (full inspection protocols using CMM and SPC). IPM serves diverse industries including construction, mining, agriculture, aerospace/defense, high-performance automotive, forestry, oil/gas, and recreational sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Custom Precision Machine Components Custom-manufactured precision machined parts built to OEM specifications, serving aerospace, defense, construction, mining, agriculture, high-performance automotive, forestry, oil and gas, and recreational industries.
• Gearing Custom gear cutting services producing precision gears for OEM applications across multiple heavy-duty and high-performance sectors.
• Milling CNC milling services producing precision-machined components to OEM specifications.
• Turning CNC turning services for producing cylindrical and rotationally-symmetric precision components.
• Grinding Precision grinding services delivering tight-tolerance surface finishes on machined components.
• Quality Assurance In-house quality assurance processes validating manufactured components meet AS9100D and ISO 9001:2015 standards for OEM customers.

Quantifiable outcome

• AGMA quality levels of 12 or better achievable with Gleason 245TWG gear grinder
• +3 more outcomes

Segments8 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Magellan Aerospace: Canadian-based supplier of precision-machined aerospace components, assemblies, and engine programs. Overlaps with IPM in AS9100-certified precision components for aerospace/defense OEMs, but operates at much larger scale and broader product range.
• Precision Castparts Corp: Large diversified manufacturer of complex metal components and assemblies for aerospace, power, and industrial markets (Berkshire Hathaway subsidiary). Broad incumbent operating at much larger scale than IPM but overlapping in aerospace precision machined components.
• Triumph Group: U.S. aerospace supplier producing complex machined components, assemblies, and systems for commercial and military aircraft. Broad incumbent with overlapping precision machining capabilities across IPM's aerospace/defense customer vertical.
• Senior plc: UK-listed precision engineering group producing high-precision components and assemblies for aerospace, defense, and industrial OEMs. Operates at significantly larger scale than IPM but directly comparable in precision-machined aerospace component offerings.
• Howmet Aerospace: Leading aerospace company producing engineered precision castings, fasteners, and machined components for jet engines and airframes. Much larger scale than IPM but overlapping in aerospace precision components and AS9100-certified machining.

Direct peers

• Atlas Gear Company: Precision gear manufacturer specializing in spur, helical, worm, and bevel gears for industrial, automotive, and aerospace applications. Direct peer in the precision gear-cutting and machining services space serving similar OEM customers.
• Arrow Gear & Instrument Co. Family-owned precision gear manufacturer based in Downers Grove, IL, producing spur, helical, bevel, and worm gears for aerospace, defense, and industrial OEMs. Directly comparable to IPM's gear-cutting business across similar precision tier and customer verticals.
• Schafer Gear Works: Mid-market precision gear manufacturer in Rockford, IL producing custom gears, shafts, and splines for aerospace, automotive, and industrial customers. Closely mirrors IPM's custom-job-shop model, gear capabilities, and target customer verticals.
• Bison Gear & Engineering Corp. U.S. manufacturer of precision gears, gearmotors, and power transmission components serving industrial, agricultural, and aerospace customers. Comparable to IPM in precision gear manufacturing focus and mid-market contract manufacturer profile.

Others

• RBC Bearings: U.S. manufacturer of highly-engineered precision bearings and engineered products serving aerospace, defense, and industrial markets. Comparable in precision-manufacturing of rotational/powertrain components, though specializing in bearings rather than gears/machined parts.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/IPMGear
• LinkedInlinkedin.com/company/international-precision-machining

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 IPM