The Eastern Company Acquires Sungear and Crown Precision

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Acquires Sungear and Crown Precision for $7.85 million, establishing a fourth operating platform at Eastern focused on precision manufacturing for the aerospace and defense industriesTransaction fully funded under Eastern's existing revolving credit facility with substantial remaining liquidity for further platform development SHELTON, CT / ACCESS Newswire / June 2, 2026 / The Eastern Company ("Eastern" or the "Company") (NASDAQ:EML), a manufacturer of engineered products and solutions serving commercial transportation, logistics, and other industrial markets, today announced the acquisition of Sungear, LLC ("Sungear") and Crown Precision ("Crown"), 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 $7.85 million 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 $22.8 million of revenue for the trailing twelve months ended April 1, 2026."This transaction creates a fourth operating platform for Eastern that expands our presence in the aerospace and defense markets in a disciplined manner," stated Ryan A. Schroeder, President and Chief Executive Officer of The Eastern Company. "Sungear and Crown each have deep engineering capabilities, embedded positions within long-cycle programs at leading aerospace and defense customers, and exposure to multi-year procurement tailwinds. Both businesses complem...

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