Edgewater Growth Capital Partners V, L.P. acquired Parker Manufacturing Group, a producer of highly engineered precision fasteners serving the aerospace & defense, semiconductor capital equipment, and industrial markets. Terms of the deal were not disclosed.

“The investment in Parker advances our strategy of building a leading platform of highly engineered fastening solutions,” said Greg Rawlings, CEO of Edgewater’s Fastener Platform. “Parker’s differentiated manufacturing capabilities, technical expertise, and longstanding customer relationships strengthen our platform and expand our ability to serve customers across the aerospace, defense, and semiconductor markets with mission-critical fastening solutions.”

Buckeye, AZ-based Parker operates through three entities: Parker Fasteners (Buckeye), CBS Fasteners (Anaheim, CA), and Twist Tite (Santa Fe Springs, CA). 

Co-founder Robert Parker and COO Geoff Tumang will continue with the business following the transaction.

Edgewater said it intends to support the Parker’s continued expansion through a combination of organic growth initiatives and acquisitions.

Edgewater is a Chicago-based private equity firm with over $4 billion of capital commitments, including active holdings in aerospace and defense suppliers Orizon, Turbine Engine Specialists, and Spartan Aerospace Group.