CORE Industrial Partners (“CORE”), a Chicago-based private equity firm, announced today the acquisitions of Precision Metal Fab and Precision Tool & Die (collectively, “PMF” or the “Company”), a provider of metal cutting and forming solutions, by CORE portfolio company CGI Automated Manufacturing (“CGI”). The transactions follow CORE’s acquisition of CGI in August and Advanced Laser Machining (“AL”) in October.
Founded in 1978, PMF specializes in CNC laser cutting, stamping, metal die formation, welding, and assembly for various end-market applications, including warehouse automation, food equipment, HVAC and utilities. PMF’s fleet of 10- and 15-kilowatt fiber-optic lasers equipped with autoloading technology can cut up to 1.2-inch-thick mild steel, stainless, aluminum, brass and copper while holding tolerances up to .003 inches. Combined with presses ranging from 60 to 300 tons for both short-run and long-run progressive stamping and a variety of ancillary services, including press brake forming, PEM insertion, assembly and packaging, PMF’s full array of fabrication capabilities support initial engineering and design assistance through prototyping and high-volume production. Headquartered between Oklahoma City, Tulsa and Wichita in Ponca City, Oklahoma, PMF serves a nationwide customer base from its centrally located 60,000 square foot facility.
Matthew Puglisi, Partner of CORE, said, “From state-of-the-art equipment to lights-out automation, we believe PMF is at the forefront of metal manufacturing technology and fits exceptionally well with the CGI platform. We look forward to leveraging the broader capabilities of CGI, PMF and AL to drive organic growth while continuing to pursue strategic acquisition opportunities.”
Greg Neisen, President of PMF, said, “On behalf of my brother, Mike, my sister, Debbie, and the full PMF team, we’re looking forward to joining the CGI platform and combining the respective strengths of the companies to continue exceeding expectations for our valued customers.”
Winston & Strawn LLP provided legal representation to CGI and CORE in the transaction.
ABOUT CORE INDUSTRIAL PARTNERS:
CORE Industrial Partners is a Chicago-based private equity firm with $700 million of capital commitments investing in North American lower middle-market manufacturing, industrial technology and services businesses. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience, and a proven track record of building market-leading businesses. Through our capital, insight, and operational expertise, CORE partners with management teams and strives to build best-in-class companies. For more information, visit www.coreipfund.com.
ABOUT CGI AUTOMATED MANUFACTURING:
Founded in 1976, CGI Automated Manufacturing (“CGI”) is a provider of complex sheet metal production parts, assemblies and weldments for a variety of end markets, including electrical transmission and distribution, medical, food, lighting and industrials. Based outside Chicago, CGI offers numerous in-house manufacturing capabilities to effectively serve customers with lights out manufacturing for mid- to high-volume production. For more information, visit www.cgiautomatedmanufacturing.com.
ABOUT ADVANCED LASER MACHINING:
Founded in 1996, Advanced Laser Machining (“AL”) is a full-service provider of metals-focused contract manufacturing solutions for a variety of end markets, including supercomputing, aerospace & defense, medical, transportation and industrials. Headquartered in Chippewa Falls, Wisconsin, AL operates four facilities and holds ISO 9001:2015, AS9100 and American Welding Society certifications. For more information, visit www.laser27.com.
ABOUT PRECISION METAL FAB AND PRECISION TOOL & DIE:
Founded in 1978, Precision Metal Fab and Precision Tool & Die (collectively, “PMF”) is a provider of metal cutting and forming solutions, including CNC laser cutting, stamping, metal die formation, welding, and assembly, for end markets including warehouse automation, food equipment, HVAC and utilities. PMF operates a 60,000 square foot facility in Ponca City, Oklahoma. For more information, visit www.ptdie.com.