PARIS — The man who founded Maine Machine Products Co. has announced the sale of the company.

Roland L. Sutton said in a news release that his family has sold 100 percent of its ownership interest in the company to an affiliate of GenNx360 Capital Partners. Sutton resigns his position as chairman of the board of the company, but the transfer will not change the management team at the company, including President and CEO David MacMahon.

“After more than 54 years of stewardship, my family and I decided the time was right to look for a new owner for MMP Co.— one who would not only respect our traditions, but assure the longevity of the company beyond the current generation of owners,” Sutton said. “We are delighted that GenNx360 is that exceptional owner and wish them every success in the future.”

The company manufactures precision machine components for markets including defense, semiconductors, and oil and gas. The price and terms of the sale were not released.

GenNx360 was founded in 2006 and is based in New York City, with additional offices in Boston, Seattle, and India. Its other companies are a security equipment company in Texas, a silicone product manufacturer in Florida, a global logistics company in Michigan, a machine component manufacturer in Canada, and a business process and customer management outsourcing firm in the United Kingdom.

“Not only did the Sutton family build a world class company that leads its peers in terms of quality and technological advancement, but they have supported the company with a strong and capable associate team along with an exemplary management team,” said Lloyd Trotter, a founder and managing partner of GenNx360. “We value every associate’s commitment to Maine Machine Products Company and look forward to using our operational expertise, strategic insight and network to help them grow and expand the company.”

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