CORE Industrial Partners (“CORE”), a Chicago-based private equity firm with more than $700 million of capital commitments, announced today the acquisitions of Centex Machining & Welding (“Centex”), Laser Manufacturing (“Laser”), Precision Process Corporation (“PPC”) and Micropulse West (“Micropulse”), a group of leading precision manufacturing services providers, by CORE portfolio company Incodema Holdings, LLC.
CORE has now acquired 14 precision manufacturing companies in the prior 24 months providing a variety of capabilities, including EDM and CNC machining, injection molding, 3D printing and sheet metal fabrication. CORE continues to actively focus on investing in accelerating Industry 4.0 trends and the digital transformation of the industrial base in North America.
TJ Chung, Senior Partner of CORE, said, “These four acquisitions not only demonstrate CORE’s continued experience and expertise in precision manufacturing, with a particular focus on Industry 4.0, but also our desire to partner with founder-, entrepreneur- and family-owned businesses.”
Matthew Puglisi, Partner of CORE, said, “All four acquisitions are characterized by the same overriding themes, including a long track record of at least 25 years, a leading customer base, and a focus on providing tight tolerance parts for mission-critical applications across attractive end markets, most notably medical, semiconductor, aerospace and defense, and satellite communications.”
Headquartered outside Austin, Texas, Centex manufactures orthopedic instruments and implants for knee, hip, ankle and shoulder surgeries. Centex maintains ISO 9001 and ISO 13485 certifications and has been serving leading medical customers for more than 40 years since the company was founded in 1979.
Also located outside Austin, Laser is a provider of precision components for repair and replacement applications, testing and inspection, and value-added distribution services primarily for the semiconductor end market. Laser maintains ISO 9001 and AS 9100 certifications and was founded in 1991.
PPC is a leading producer of integrated engineering through production services for the medical, semiconductor and packaging end markets. Headquartered outside Chicago, Illinois, and founded in 1987, PPC offers machining, grinding, wire cutting and welding, among other capabilities, and holds an ISO 9001 certification.
Based in Tempe, Arizona, Micropulse is a manufacturer of complex precision parts for programs across the satellite communications, aerospace and medical end markets. Founded in 1994, Micropulse specializes in EDM machining and holds ISO 9001 and ITAR certifications.
Winston & Strawn LLP provided legal representation to CORE across all transactions. The Peakstone Group acted as exclusive financial advisor to PPC, and Focus Investment Banking acted as exclusive financial advisor to Micropulse, in the respective transactions.
ABOUT CORE INDUSTRIAL PARTNERS:
CORE Industrial Partners is a Chicago-based private equity firm investing in North American lower middle-market manufacturing and industrial technology 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 with lasting results. For more information, visit www.coreipfund.com.
ABOUT CENTEX MACHINING & WELDING:
Founded in 1979, Centex manufactures orthopedic instruments and implants for the knee, hip, ankle and shoulder. Headquartered outside Austin, Texas, Centex is ISO 9001 and ISO 13485 certified. For more information, visit www.centexmachining.com.
ABOUT LASER MANUFACTURING:
Founded in 1991, Laser is a provider of machined components for repair and replacement applications, testing and inspection, and value-added distribution services. Headquartered outside Austin, Texas, Laser is ISO 9001 and AS 9100 certified. For more information, visit www.lasermfg.com.
ABOUT PRECISION PROCESS CORPORATION:
Founded in 1987, Precision Process Corporation is a producer of integrated engineering through production services, including machining, grinding, wire cutting and welding. Headquartered outside Chicago, Illinois, PPC is ISO 9001 certified. For more information, visit www.pp-corp.com.
ABOUT MICROPULSE WEST:
Founded in 1994, Micropulse West is a manufacturer of complex machined parts for programs with a specialty in EDM machining. Headquartered in Tempe, Arizona, Micropulse is ISO 9001 and ITAR certified. For more information, visit www.micropulsewest.com.