CIC Partners-backed Precision Aerospace, a manufacturer of precision machined aerospace and defense components, completed the acquisition of Owens Machine and Tool Company, a producer of complex, multifaceted parts, tooling and prototypes utilizing multi-axis machine tools and best-in-class cutting tools. Financial terms were not disclosed. “We are thrilled to add Owens to Precision’s growing platform. The Owens team has deep experience that expands our broad capabilities to provide world-class service to aerospace and defense industries. We expect to continue their exciting growth trajectory," Pete Stegmaier, Precision CEO.