Susquehanna Private Capital LLC purchased McNally Industries LLC from Gardner Standard LLC for an undisclosed sum.
Grantsburg, Wis.-based McNally makes precision systems for the defense and industrial sectors.
Gardner Standard, which invests in small middle-market businesses in the manufacturing, aerospace and defense, industrial service, engineered industrial product and other sectors, will remain a minority equity investor in McNally.
Susquehanna Private Capital is the private equity arm of Susquehanna International Group LLP specializing in management buyouts, owner recapitalizations, family successions, and industry consolidations of middle-market companies.
