NN, Inc. Announces Definitive Agreement to Acquire Precision Engineered Products

Company to Host Conference Call to Discuss Transaction

JOHNSON CITY, Tenn. – NN, Inc., (NASDAQ: NNBR) a diversified industrial company, today announced that it has entered into a definitive agreement to acquire Precision Engineered Products Holdings, Inc. (P.E.P.) for $615 million in cash. The transaction is expected to be immediately accretive to earnings. The Company anticipates that the transaction will close by the end of October, 2015, subject to customary closing conditions and regulatory approval. NN was advised on the transaction by KeyBanc Capital Markets, Inc.

P.E.P. is a global manufacturer of highly engineered precision customized solutions serving the medical, electrical, transportation and aerospace end markets. P.E.P. has built a highly respected brand on which customers rely to solve their most difficult problems across diversified end markets. P.E.P.'s net sales for the last twelve months ending June 30, 2015, including acquisitions, were $245.3 million, with approximately $180.0 million coming from the medical and electrical businesses.

Richard Holder, President and CEO commented, "The addition of the P.E.P. business into our portfolio is a transformative step in creating a diversified industrial company that serves a variety of end markets and delivers consistent results through the economic cycle. P.E.P. strengthens our technical capabilities and provides us with additional dynamic platforms to support outgrowth of our end markets. P.E.P.'s focus on the medical, electrical, and aerospace end markets and delivery of world class precision and technology to their customers aligns perfectly with our strategic plan. Utilizing the NN Operating System, P.E.P. will have the tools and resources to continue to develop new products and drive operational efficiency in the years to come. We look forward to welcoming the P.E.P. team into the NN family."

NN expects to finance the transaction primarily with available cash and the issuance of debt from new fully committed credit facilities.

Conference Call and Supplemental Deck

A supplemental presentation on this acquisition has been posted to NN's website. The Company will host a conference call to discuss the transaction on August 18 at 10:00 a.m. ET. Access the call by dialing 888.500.6950 in the U.S., or 719.325.2329 internationally, conference ID: 5318922. A replay of the conference call will be available shortly after the conclusion of the call. The replay along with presentation materials relating the acquisition will be available under the investor relations section of NN's website.

NN, Inc., a diversified industrial company, manufactures and supplies high precision metal bearing components, industrial plastic and rubber products and precision metal components to a variety of markets on a global basis. Headquartered in Johnson City, Tennessee, NN has 26 manufacturing plants in North America, Western Europe, Eastern Europe, South America and China.



AT THE COMPANY, Robbie Atkinson, Corporate Treasurer Investor Relations, (423) 434-8398,

AT FINANCIAL RELATIONS BOARD, Marilynn Meek, (General info), 212-827-3773

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