NewSpring, a private equity firm, agreed to invest in Manitowoc Tool & Machining, a production oriented, precision machining company servicing mission critical components. Financial terms were not disclosed. “In our 50-plus years of business, we’ve always focused on producing the best results for our clients by providing the highest-value precision machining services to some of our country’s most iconic manufacturers. We still believe there’s plenty of room left for our business to expand and serve a wider range of businesses. We’re thrilled to partner with NewSpring, a firm with significant experience in precision manufacturing, as we build on this foundation and enter our next stage of growth,” Rick Swoboda, MTM President.