What is Precision Devices?
Precision Devices Inc. specializes in the economical refurbishment of forklift motors and drive units, catering to a wide range of equipment from pallet jacks to reach trucks and side loaders. Recognizing the substantial cost savings and reduced downtime associated with rebuilt components compared to new ones, the company offers local pickup and delivery services to enhance customer convenience and operational efficiency. Beyond its core offerings, Precision Devices also provides concrete and asphalt repair products designed to maintain and improve industrial flooring, thereby boosting productivity. The company operates with strategic locations in Wallingford, CT, Ewing, New Jersey, and Plainville, Massachusetts, facilitating widespread service.
How much funding has Precision Devices raised?
Precision Devices has raised a total of $150K across 1 funding round:
Debt
$150K
Debt (2020): $150K with participation from PPP
Key Investors in Precision Devices
PPP
Public-Private Partnership
What's next for Precision Devices?
The substantial late-stage funding indicates Precision Devices is poised for significant expansion and operational enhancement. This capital injection is likely to fuel advancements in their rebuilding technologies, potentially broaden their service area, and possibly diversify their product lines further into industrial maintenance solutions. The strategic investment suggests a focus on scaling operations to meet growing market demand for cost-effective industrial equipment solutions and maintenance services.
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