Eastern Company Acquires Sungear and Crown Precision for $7.85M
The Eastern Company announced the acquisition of Sungear and Crown Precision, two California-based precision manufacturers of high tolerance components serving aerospace, defense and adjacent end markets. The transaction establishes a fourth operating platform for Eastern, complementing its existing portfolio of Eberhard Manufacturing, Velvac, and Big 3 Precision. The acquisitions of Sungear and Crown align with the Company's strategic priorities to expand its portfolio of operating platforms, add engineered products with attractive end-market exposure, and deploy capital into businesses that benefit from Eastern's decentralized, holding-company model. Sungear and Crown will continue to be led by their existing management teams, with Eastern providing financial discipline, strategic guidance, and access to capital to support investment in capacity, automation, and product development. Under the terms of the transaction, Eastern acquired 100% of the issued and outstanding equity of Sungear and Crown for $7.85M in aggregate consideration on a cash-free, debt-free basis. The transaction was funded through borrowings under Eastern's existing revolving credit facility with Citizens Bank, N.A. On a combined basis, Sungear and Crown generated approximately $22.8M of revenue for the trailing twelve months ended April 1, 2026.
