Enfield based PTI Industries has been acquired by a holding company backed by a Chicago private equity firm.
Industrial Service Solutions (ISS), which is a portfolio company of the $2.4 billion private equity firm the Edgewater Funds, bought PTI Industries for an undisclosed sum.
A company spokeswoman said there have been no layoffs at the company that employs 120 people. PTI President Harley Dulude Jr. was also retained.
The company said the acquisition, which includes a partnership with other ISS companies, PTI expands its capabilities through an array of special processes for the aerospace, automotive, medical device, power generation, and OEM industries.
PTI was founded in 1983 to provide non-destructive testing services to machine shops serving the aerospace and medical industries. It has a combined 71,500 square feet of space at two locations in Enfield.
