Arc Drilling, Inc. Continues Nadcap 24-Month Merit Status in Valley View, OH

Arc Drilling, Inc. Continues Nadcap 24-Month Merit Status for Electrical Discharge Machining

Nadcap recognizes Arc Drilling, Inc. for its superior performance and commitment to continual improvement in aerospace quality

Arc Drilling, Inc. announces that it has once again been awarded Nadcap 24-Month Merit Status for Electrical Discharge Machining in Valley View, Ohio.

Founded in 1961, Arc Drilling’s capabilities include Fast Hole EDM, Wire EDM and Sinker EDM.  The Company has a long history of being an industry leader in production quality and turnaround times, and it performs EDM services on over 200,000 parts per year for a diversified customer base.  With facility sites local to Cleveland, OH, Greenville, SC, and Charleston, SC, Arc Drilling is strategically positioned near major industrial gas turbine and aerospace engine manufacturing centers.

Arc Drilling, Inc. has held Nadcap accreditation since 2009. Having demonstrated their ongoing commitment to quality by satisfying customer requirements and industry specifications, the Nadcap Task Group has determined that Arc Drilling, Inc. has earned special recognition. This means that, instead of having their next Nadcap audit in twelve or even eighteen months, Arc Drilling, Inc. in Valley View has been granted an accreditation that lasts until January 31, 2021.

“The management team at Arc Drilling has built an industry leader in EDM capability and quality, ” said Kevin Trem, Vice President of Arc Drilling, Inc.  “Between three facilities, thousands of frozen processes are controlled to produce defect-free parts on time daily.  The continued Nadcap 24-Month Merit Status achieved in Valley View speaks volumes to the culture of team work and attention to detail in place at Arc Drilling.”

“Achieving Nadcap accreditation is not easy: it is one of the ways in which the aerospace industry identifies those who excel at manufacturing quality product through superior special processes. Companies such as Arc Drilling, Inc. go above and beyond achieving Nadcap accreditation to obtain Merit status and they should be justifiably proud of it,” said Joe Pinto, Executive Vice President and Chief Operating Officer at the Performance Review Institute. “Benefitting from a less frequent audit schedule reduces audit costs and associated pressures and demonstrates the trust that the aerospace industry has in Arc Drilling, based on their past performance in Nadcap audits. PRI is proud to support continual improvement in the aerospace industry by helping companies such as Arc Drilling, Inc. be successful and we look forward to continuing to assist the industry moving forward.”

Washington Equity Partners, with Management, Leads Majority Recapitalization of Arc Drilling

MCLEAN, Va. and CLEVELAND, Nov. 21, 2017 /PRNewswire/ — Washington Equity Partners (“Washington Equity,” a private equity firm based in the Washington DC metro area), in partnership with the Company’s existing owners and management, today announced an investment in Arc Drilling, LLC (“Arc Drilling” or the “Company”). Headquartered in Cleveland, Ohio, Arc Drilling is a leading provider of electrical discharge machining (EDM) solutions to the industrial gas turbine and aerospace engine markets. Arc Drilling is Washington Equity’s second portfolio company in the Aerospace, Defense and Government (ADG) sector and will serve as Washington Equity’s platform company in the growing EDM market.

Founded in 1961, Arc Drilling’s capabilities include Fast Hole EDM, Wire EDM and Sinker EDM. The Company has a long history of being an industry leader in production quality and turnaround times, and it performs EDM services on over 200,000 parts per year for a diversified customer base that includes GE, Parker Hannifin, Precision Castparts, Swagelok and Woodward. With facility locations in Cleveland, OH, Greenville, SC, and Charleston, SC, Arc Drilling is strategically positioned near major industrial gas turbine and aerospace engine manufacturing centers.

Arc Drilling’s current management team, led by Lee Trem and Kevin Trem, will continue to lead the Company going forward. “We are very excited to partner with Washington Equity as we lead Arc Drilling through this next stage of transformative growth,” said Lee Trem, President of Arc Drilling. “Market demand for high quality EDM suppliers like Arc Drilling is at an all-time high, and Washington Equity’s strategic focus on growth and market leadership make it an ideal partner for us.”

Kevin Trem, Vice President of Arc Drilling, commented, “We look forward to leveraging Washington Equity’s resources, relationships and domain expertise in gas turbines as we expand our business. Having more resources and capital available will enable us to provide even better value to our customers through geographic expansion and the development of new capabilities.”

Jesse Liu, a Partner at Washington Equity, said, “As a pure-play EDM provider, Arc Drilling is uniquely positioned to benefit from the growing demand in the turbine market for manufacturing technologies that can reliably produce small and complex hole channels and gas pathways. Lee Trem, Kevin Trem and the entire management team at Arc Drilling have built an industry leader in EDM capability and execution quality and we are proud to have the opportunity to partner with them.”

Gladstone Capital, Farragut Capital and Siguler Guff provided debt and equity financing in support of the transaction.
EdgePoint Capital provided M&A advisory services to Arc Drilling.

About Washington Equity Partners
Washington Equity Partners is a sector-focused private equity firm that makes control equity investments in established lower middle market businesses with strong prospects for rapid organic and acquisition-driven growth. The firm is headquartered in McLean, VA and is focused on investing in: (i) Aerospace, Defense, and Government Contracting, (ii) Industrial and Advanced Manufacturing, and (iii) Software and Technology. www.w-equity.com

About Arc Drilling
Headquartered in Cleveland, Ohio, Arc Drilling is a leading provider of Fast Hole EDM, Wire EDM and Sinker EDM manufacturing services. The Company was founded in 1961 and is a long-time supplier to OEMs and Tier I suppliers in the industrial gas turbine, aerospace engine and industrial markets. Arc Drilling has manufacturing operations in Cleveland, Ohio; Greenville, South Carolina; and Charleston, South Carolina. www.arcdrilling.com

Contact: Jesse Liu, Bob Knibb or Hagen Saville – Washington Equity Partners 1420 Spring Hill Road, Suite 600 McLean, VA 22101 (202) 839-3410 www.w-equity.com

Arc Drilling, Inc. Receives Nadcap Merit Status for Non-Conventional Machining/EDM in Charleston, SC

Nadcap recognizes Arc Drilling, Inc. for its superior performance and commitment to continual improvement in aerospace quality

Arc Drilling, Inc. announces that it has been awarded Nadcap Twenty-Four Month Merit status for Non-Conventional Machining/EDM.

Arc Drilling, Inc. has held Nadcap accreditation since 2009. Having demonstrated their ongoing commitment to quality by satisfying customer requirements and industry specifications, the Nadcap Task Group has determined that Arc Drilling, Inc. has earned special recognition. This means that, instead of having their next Nadcap audit in twelve months, Arc Drilling, Inc. has been granted an accreditation that lasts twenty-four months.  This status was first awarded to the Cleveland-area facility in 2015, and has been achieved in 2017 for the Charleston facility.

“Achieving Nadcap accreditation is not easy: it is one of the ways in which the aerospace industry identifies those who excel at manufacturing quality product through superior special processes. Companies such as Arc Drilling, Inc. go above and beyond achieving Nadcap accreditation to obtain Merit status and they should be justifiably proud of it,” said Joe Pinto, Executive Vice President and Chief Operating Officer at the Performance Review Institute. “Benefitting from a less frequent audit schedule reduces audit costs and associated pressures and demonstrates the trust that the aerospace industry has in Arc Drilling, based on their past performance in Nadcap audits. PRI is proud to support continual improvement in the aerospace industry by helping companies such as Arc Drilling be successful and we look forward to continuing to assist the industry moving forward.”

 

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About Nadcap
Created in 1990 by SAE Inc., Nadcap is administered by the not-for-profit Performance Review Institute. PRI is a global provider of customer-focused solutions designed to improve process and product quality by adding value, reducing total cost and promoting collaboration among stakeholders in industries where safety and quality are shared goals. PRI works closely with industry to understand their emerging needs and offers customized solutions in response. Learn more at www.p-r-i.org or contact PRI at PRI@p-r-i.org