A new entrant into the crowded aerospace and medical device supply chain market is hoping to ride the U.S. manufacturing reshoring wave.
But rather than launching a business from scratch, Milford-based Talon Precision is using $75 million in equity funding to buy high-performing precision machine shops and help them grow under common ownership.
Talon is backed by an investor group led by Mitchell Rales, co-founder of Danaher Corp., the Washington, D.C.-based global life sciences and diagnostics company. It has also tapped the experience of Connecticut native Joe Rios, who left Pratt & Whitney after an 18-year career, most recently serving as chief of staff for the company’s military engines division. He is now Talon’s chief operating officer.
“We are looking very much to build a very big brand in Connecticut and certainly in Aerospace Alley,” Rios said in an interview.
Talon’s first acquisition is a small machine shop in Milford, B & A Company, a two-generation, family-owned business. Talon says it has four more deals in the works — two in Connecticut and two outside the state.
With that foundation, Rios said the company aims to build a precision manufacturing company serving aerospace, defense, medical device, semiconductor and other industrial markets while also helping develop the next generation of machinists and engineers.
“We feel very strongly about really building back the supply chain in America,” Rios said. “We see the effort that’s required.”
Rios is joined by co-founder and CEO Jesse Reising, a Yale graduate who previously led a similar manufacturing consolidation effort in the automotive industry.
“Thousands of advanced manufacturing businesses across the country have the potential to meet the growing demand for domestic precision manufacturing capabilities, but many require additional resources and investment to reach their full potential,” Reising said.
Keeping pace
Rios said Talon sees opportunity in acquiring smaller machine shops built by family owners.
B & A, a 19-employee manufacturer of precision parts for the aerospace, defense and medical industries, fits that mold. Owners Rick and Ron Schwartz, sons of the founders, will remain through the transition before retiring.
Rios emphasized Talon is pursuing a long-term strategy rather than buying companies for a quick resale.
Its growth ambitions hinge, in part, on finding skilled workers, one of the industry’s biggest challenges. The shortage is already evident at the Milford shop, Rios said.
“In the first 90 days of operations with (B & A), we’ve interviewed close to 50 candidates and hired five, maybe,” he said.
To help build its workforce, Talon is working with CT State Community College at Housatonic to potentially develop a customized training program tailored to its needs.
While many of manufacturing’s workforce challenges stem from the retirement of skilled machinists, Rios said he saw firsthand during his time at Pratt & Whitney how the pandemic also weakened suppliers across the industry, leaving many without the capacity to meet demand. The resulting bottlenecks contributed to delivery delays and, at times, quality issues, he said.
Connecticut’s manufacturing workforce reflects those challenges. Manufacturing employment in the state fell by about 3,000 jobs in 2025, according to the state Department of Labor. Payrolls have rebounded somewhat in 2026, but employment remains below pre-pandemic levels.
Workforce pressures are being compounded by a reshoring wave that began with pandemic-era supply chain disruptions and shortages, prompting many manufacturers to reconsider overseas production. By 2024, a Censuswide survey found 69% of U.S. manufacturers were moving at least some previously overseas operations back home.
For Connecticut and the Northeast, another driver of growth — and workforce constraints — is the defense spending boom. After rising significantly every year since the pandemic, the defense budget is due to increase by about 17% in fiscal year 2026. Connecticut’s industrial base, home to Pratt & Whitney, Sikorsky and Electric Boat, is struggling to keep pace.
Electric Boat alone said it planned to hire 8,000 people this year.
Integrating operations
Meantime, in the context of Connecticut’s booming supply chain acquisition market, Talon Precision’s strategy is relatively modest. Large private equity firms in the M&A market — including AE Industrial, Arlington Capital and Arcline — typically count their deals in the billions.
Arcline, for example, acquired Bloomfield-based Kaman Corp. in a $1.8 billion deal in 2024, then combined it with several other manufacturers to form Arxis. The company, also based in Bloomfield, completed a $1.1 billion initial public offering this spring and recently announced about $890 million in acquisitions of two aerospace and defense suppliers.
Attorney Jeff White, head of law firm Robinson + Cole’s manufacturing team, said deal activity is increasing across the aerospace supply chain.
“We’ve done 20 aerospace defense deals since 2023,” he said. “I’ve got seven in the pipeline right now.”
White said strong demand has made it a seller’s market, and smaller companies like those Talon is targeting often have multiple buyers to choose from. For many founders, he said, the purchase price is not the biggest consideration.
“Not all privately held suppliers in Connecticut are choosing the top buyer, the top dollar,” White said. “They’re also concerned about their employees. I would say that most of our client base is focused on ‘what is your plan for the future of this company?’”
Connecticut Business & Industry Association CEO Chris DiPentima, who spent almost two decades leading an aerospace supply chain company, says Danaher’s manufacturing pedigree gives Talon credibility as it begins acquiring suppliers.
“Danaher is really well-known for robust, disciplined processes in the manufacturing sector, operational processes that help companies grow and really thrive in customer support and satisfaction,” he said.
One of the challenges he sees for operators that are targeting consolidation among smaller suppliers in Connecticut is how they achieve uniformity and integration between formerly independent operations.
“You can’t just bolt on five small companies,” he said. “You have to make sure operationally they’re integrated, that the sales and marketing is integrated, that they’re acting like one company, and that’s harder to do than people think.”
