CORE’s Manufacturing & Industrial Technology Team is comprised of investment, operating, and business development professionals with deep industry knowledge and experience. We partner with business owners and management teams who seek to grow their businesses and build world-class companies by leveraging our distinctive, operationally-focused culture.
John May
Managing Partner
Mr. May, is the Founder and Managing Partner of CORE and is responsible for overseeing all activities of the firm including investment sourcing and valuation, transaction structuring, the securing of acquisition financing, fundraising, and all administrative activities. Before founding CORE, he spent the past 18 years working on transactions with several private equity sponsors principally with The Blackstone Group and H.I.G. Capital. He currently serves on the boards of the following CORE portfolio companies: Fathom, Saylite, Cohere, Kelvix, Cadrex, 3dxtech, GEM, Century Box, Aviation Concepts and Winky Lux.
Mr. May graduated with Honors from East Carolina University with a business degree. He currently serves on the East Carolina University Foundation, Inc. Board of Directors including its Executive Committee and is Chair of the Investment Committee. He is also Co-Founder and former Chairman of the Board for Imerman Angels, a 501(c)(3) Chicago-based cancer support organization. He also is an active member of the Young Presidents’ Organization (YPO), a member of The Economic Club of Chicago, and obtained his Level I Sommelier accreditation from The International Sommelier Guild.
Frank Papa
Senior Partner
Mr. Papa, a Founding Partner at CORE, is responsible for investment sourcing, evaluating potential acquisitions, valuation and the implementation of the CORE Operating Playbook. Before joining CORE, he spent 18 years creating value as CEO of five Private Equity portfolio companies, backed by the likes of HIG Capital, Riverside Capital, DDJ Capital and Sun Capital Partners. Prior to his private equity assignments, Mr. Papa spent 20 years as an Operations Executive in Fortune 100 businesses within 14 different industries, including GE, Stanley Tools, Textron and Hanes Brand. He currently serves on the boards of the following CORE portfolio companies: Saylite, Cohere, Kelvix, and Century Box.
A graduate from Lowell Technological Institute (U of Mass Lowell) with a BS in Engineering, Mr. Papa went on to graduate from U of Mass Amherst with an MBA. He also completed and graduated GE’s Corporate Manufacturing Management Program.
TJ Chung
Senior Partner
Mr. Chung, a Founding Partner at CORE, is responsible for investment sourcing, evaluating potential acquisitions, valuation and the implementation of the CORE Operating Playbook. Before joining CORE, he spent the past 13 years as CEO/President of a number of high-growth electronics and technology businesses — all private equity-backed or divisions of large publicly traded corporations. He was also the Chief Strategy Officer of Brunswick Corporation (NYSE: BC), overseeing corporate strategy, M&A and operation management. He currently serves on the boards of the following CORE portfolio companies: Fathom, Cadrex, and 3dxtech. He also serves on the boards of Littelfuse (NASDAQ: LFUS) and Airgain (NASDAQ: AIRG).
Mr. Chung holds an MBA from Duke University’s Fuqua School of Business, an MS in Computer Science from North Carolina State University, and a BS in Electrical Engineering from the University of Texas at Austin. He also serves on the advisory board of the Cockrell School of Engineering at the University of Texas at Austin.
Matt Puglisi
Partner
Mr. Puglisi, a Founding Partner at CORE, is responsible for the sourcing and evaluation of investment opportunities, valuation, transaction structuring and the securing of acquisition financing. Before joining CORE, he most recently served as a Vice President at Peak Rock Capital, an Austin-based middle-market private equity firm, where he was responsible for identifying, evaluating, executing and actively monitoring investments. Prior to joining Peak Rock Capital, Mr. Puglisi worked at Wind Point Partners and the investment banking division of Citigroup in Chicago. He currently serves on the boards of the following CORE portfolio companies: Saylite, Cohere, Kelvix, Cadrex, 3dxtech, GEM and Winky Lux.
Mr. Puglisi received a Master in Business Administration from Harvard Business School and a Bachelor of Business Administration degree in accountancy, summa cum laude, from the University of Notre Dame. He previously served on the Auxiliary Board of Youth Outreach Services and has held steering committee and team captain roles for the American Cancer Society Relay for Life.
Rock Lambert
Operating Partner
Mr. Lambert, Operating Partner at CORE, is responsible for deal sourcing, evaluating potential acquisitions, supporting the due diligence process, and implementing the CORE operating playbook post-acquisition.
Prior to joining CORE, Mr. Lambert led two private equity portfolio companies to successful exits as CEO of Curt Group, backed by Audax and Recreational Boat Group, which was owned by Platinum Equity. He also spent 15 years at Bombardier Recreational Products, transitioning the company from a large public corporation to a private equity-backed structure, leading multiple global business units, including relaunching a large division that was acquired post-bankruptcy. He has managed P&L’s up to $1 billion in annual revenue and led multiple facility expansions and strategic alliances with global partners.
Mr. Lambert has served on multiple boards of public and private organizations in a wide range of industries and is currently the lead independent director of Mastercraft (NASDAQ: MCFT). He currently serves on the boards of the following CORE portfolio companies: Cohere, Cadrex, Re3dtech, and GEM.
Mr. Lambert earned a bachelor’s degree in Aerospace Engineering from Ecole Polytechnique de Montreal as well as a graduate Business Degree from Laval University in Quebec.
Stephen Lee
Partner, Portfolio Resources
Mr. Lee, Founding Partner at CORE, works with our Centers of Excellence team supporting portfolio management teams to drive value-creation initiatives.
His extensive experience in operations and management consulting across companies like Brunswick Corporation, Ernst & Young, and Mercedes-Benz USA, and his previous C-level roles in financial services, equips him with a multifaceted skill set essential for addressing the complex challenges faced by portfolio companies.
Mr. Lee graduated from Duke University with an MBA and Emory University with a BBA in Accounting and Information Systems.
Ronald Rascia
Managing Director
Mr. Rascia, Managing Director at CORE, supports the Partners in transaction execution, transaction structuring, acquisition financing, development of investment theses and sourcing new investment opportunities. Before joining CORE, he served as an Assistant Vice President at Golub Capital, a credit asset manager focused on providing financing solutions to middle-market companies and their private equity sponsors. Prior to joining Golub Capital, Mr. Rascia worked at Water Street Healthcare Partners and Citigroup Global Markets in Chicago. He currently serves on the boards of the following CORE portfolio companies: Cohere, Re3dtech, Century Box, and Winky Lux.
Mr. Rascia earned his BS in Finance from the University of Illinois at Urbana-Champaign, where he received University Honors and inclusion on the Bronze Tablet – the university’s highest honor awarded to students in the top 3 percent of the graduating class.
Carissa Walker
Principal, Business Development
Ms. Walker, Business Development Principal at CORE, is responsible for deal origination and sourcing new investment opportunities. Before joining CORE, she served as the Director of Research at Akoya Capital Partners, a private equity firm with a heavy focus on the industrial and specialty chemical sectors. While at Akoya, she was responsible for conducting industry research, generating proprietary investment strategies and acquisition opportunities, sourcing operating partners, leading due diligence on closed deals, and developing post-acquisition strategies. Prior to joining Akoya, Ms. Walker worked at BOSI Global and Cook M&A.
Ms. Walker attended Tulane and earned her BS in Finance from DePaul University. She is an avid marathon runner, sports enthusiast and enjoys adventure travel. She is also a founding member of the Black Toes International Running Club and organizes the team’s annual “24-Hour Challenge” fundraising event.
Adam Miller
Senior Vice President, Business Development
Mr. Miller, Senior Vice President of Business Development at CORE, is responsible for deal origination and sourcing new investment opportunities. Before joining CORE, he served as a Principal of American Revitalization Partners (“ARP”), an initiative of Hersh Family Investments focused on acquiring manufacturing companies in the Midwest. While at ARP, Mr. Miller oversaw all sourcing and deal execution for the fund and was a Board Observer of Amerisource Industrial Supply. Prior to joining ARP, he was in Business Development & Marketing at Yelp where he worked on activities to extend the Yelp brand.
Mr. Miller holds a BBA from The University of Texas at Austin.
Mason Sandy
Vice President
Mr. Sandy, Vice President at CORE, supports the Investment Partners in transaction execution, transaction structuring, acquisition financing, development of investment theses and sourcing new investment opportunities. Prior to joining CORE, he served as an Investment Banking Analyst at Deutsche Bank in the global industrials group. He currently serves on the boards of the following CORE portfolio companies: 3DXTECH and GEM.
Mr. Sandy earned his BS in Finance from the Kelley School of Business at Indiana University Bloomington. Outside of the office, he enjoys playing golf and serves on the Board of Directors of the Private Equity Association of Chicago.
Nick Longtin
Vice President
Mr. Longtin, Vice President at CORE, supports the Investment Partners in transaction execution, transaction structuring, acquisition financing, development of investment theses, and sourcing new investment opportunities. Before joining CORE, he served as an Associate at Cotton Creek Capital, an operationally-focused private equity firm investing in the general industrials space. Prior to joining Cotton Creek Capital, Mr. Longtin began his career as an investment banking analyst at UBS in the Global Industrials Group.
Mr. Longtin earned his BS in Economics with a concentration in Finance from the Wharton School of the University of Pennsylvania.
Ryan Kakenmaster
Vice President, FP&A
Mr. Kakenmaster, a Vice President in CORE’s Centers of Excellence, works closely with portfolio management teams on finance-related projects. These projects support management in making data-driven decisions to drive value-creation initiatives.
Before joining CORE, he served as Senior Director of Financial Planning & Analysis at Q-Centrix, a private equity sponsored services and technology business. Prior to joining Q-Centrix, he was a Manager in PwC’s Transaction Services practice where he advised private equity clients on buy-side and sell-side transactions.
Mr. Kakenmaster received an MBA with a concentration in Finance and Strategy from Northwestern University’s Kellogg School of Management, as well as a BS and MS in Accountancy from the University of Illinois at Urbana-Champaign.
Joel Pennington
Vice President, FP&A
Mr. Pennington, a Vice President in CORE’s Centers of Excellence, works closely with portfolio management teams on finance-related projects. These projects support management in making data-driven decisions to drive value-creation initiatives. Before joining CORE, he served as Manager of Financial Planning & Analysis at Vi Senior Living, an owner and operator of luxury senior living communities. Prior to joining Vi, he was a Manager in KPMG’s Deal Advisory – Financial Due Diligence practice where he advised private equity clients on buy-side and sell-side transactions. Prior to KPMG, he was a Senior Associate at PricewaterhouseCoopers LLP.
Mr. Pennington is a CPA and graduated from Illinois Wesleyan University with a BA in Accountancy. Outside of the office, he enjoys spending time with his wife and kids, playing basketball, and golfing.
Sam Zimmerman
Senior Associate
Mr. Zimmerman, Senior Associate at CORE, supports the Investment Partners in transaction execution, transaction structuring, acquisition financing, development of investment theses and sourcing new investment opportunities. Prior to joining CORE, he served as an Investment Banking Analyst at Deutsche Bank in the Global Industrials Group.
Mr. Zimmerman earned his BBA in Finance from the University of Wisconsin-Madison. Outside of the office, he enjoys playing golf and basketball.
Bryan Lippert
Senior Associate
Mr. Lippert, Associate at CORE, supports the Investment Partners in transaction execution, transaction structuring, acquisition financing, development of investment theses, and sourcing new investment opportunities. Prior to joining CORE, he served as an Investment Banking Analyst at Greenhill & Co. in the Global Industrials Group.
Mr. Lippert earned his BA in Mathematics and Economics from Northwestern University. Outside of the office, he enjoys running and playing guitar and serves as a volunteer mentor for Minds Matter Chicago.
Logan Bush
Associate
Mr. Bush, Associate at CORE, supports the Investment Partners in transaction execution, transaction structuring, acquisition financing, development of investment theses, and sourcing new investment opportunities. Prior to joining CORE, he served as an Investment Banking Analyst at Citigroup in the Global Industrials Group.
Mr. Bush earned his BS in Finance from the Kelley School of Business at Indiana University Bloomington. Outside of the office, he enjoys playing basketball and golf.
Tyler Cibula
Associate
Mr. Cibula, Associate at CORE, supports the Investment Partners in transaction execution, transaction structuring, acquisition financing, development of investment theses and sourcing new investment opportunities. Prior to joining CORE, he served as an Investment Banking Analyst at Barclays in the Global Industrials Coverage Group.
Mr. Cibula earned his BS in Finance from the Kelley School of Business at Indiana University. Outside of the office, he enjoys spending time at the gym and playing golf.
Mike Noble
Associate
Mr. Noble, Associate at CORE, supports the Investment Partners in transaction execution, transaction structuring, acquisition financing, development of investment theses and sourcing new investment opportunities. Prior to joining CORE, he served as an Investment Banking Analyst at Perella Weinberg Partners in the Global Industrials Group.
Mr. Noble earned his BS in Finance from the Kelley School of Business at Indiana University Bloomington. Outside of the office, he enjoys attending Chicago sports events and playing golf.
Carlos Louro
Associate
Mr. Louro, Associate at CORE, supports the Investment Partners in transaction execution, transactions structuring, acquisition financing, development of investment thesis, and sourcing new investment opportunities. Prior to joining CORE, he served as an Investment Banking Associate at William Blair in the Industrial Growth Products group, as an Equity Research Vice President at JP Morgan, covering the LatAm Industrials sector, and as an Equity Research Analyst at Credit Suisse.
Mr. Louro earned his MBA from the University of Chicago Booth School of Business and has a BS in Economics from Insper (Brazil). Mr. Louro is also a CFA Charterholder. Outside the office, he enjoys spending time at the gym and traveling.
Blake Litzinger
Associate
Mr. Litzinger, Associate at CORE, supports the Investment Partners in transaction execution, transaction structuring, acquisition financing, development of investment theses and sourcing new investment opportunities. Prior to joining CORE, he served as an Investment Banking Analyst at Robert W. Baird in the Global Industrials Group.
Mr. Litzinger earned his BBA in Finance from the Carl H. Lindner College of Business at the University of Cincinnati. Outside of the office, he enjoys traveling and playing golf.
Matt Wasson
Associate
Mr. Wasson, Associate at CORE, supports the Investment Partners in transaction execution, transaction structuring, acquisition financing, development of investment theses and sourcing new investment opportunities. Prior to joining CORE, he served as an Investment Banking Analyst at Deloitte Corporate Finance in the Global Industrials Group.
Mr. Wasson earned his BS and Masters of Accountancy from the Trulaske School of Business at the University of Missouri. Outside of the office, he enjoys competing in triathlons, snowboarding, and playing golf.
Grace Becker
Associate
Ms. Becker, Associate at CORE, supports the Investment Partners in transaction execution, transaction structuring, acquisition financing, development of investment theses, and sourcing new investment opportunities. Prior to joining CORE, she served as an Investment Banking Analyst at Citigroup in the Global Industrials Group.
Ms. Becker earned her BS in Finance and Accountancy from the University of Illinois at Urbana-Champaign, where she received University Honors and inclusion on the Bronze Tablet – the university’s highest honor awarded to students in the top 3 percent of the graduating class.
Gavin Hausz
Associate
Mr. Hausz, Associate at CORE, supports the Investment Partners in transaction execution, transaction structuring, acquisition financing, development of investment theses and sourcing new investment opportunities. Prior to joining CORE, he served as an Investment Banking Analyst at Citigroup in the Global Industrials Group.
Mr. Hausz earned his BS in Finance from the Kelley School of Business at Indiana University Bloomington. Outside of the office, he enjoys playing golf, snowboarding and following college basketball.
Josh Ishbia
Associate
Mr. Ishbia, Associate at CORE, supports the Investment Partners in transaction execution, transaction structuring, acquisition financing, development of investment theses and sourcing new investment opportunities. Prior to joining CORE, he served as an Investment Banking Analyst at Houlihan Lokey in the Healthcare group.
Mr. Ishbia earned his BA in Finance from Michigan State University. Outside of the office, he enjoys traveling and keeping up with Detroit sports.
Sofia Byrne
Senior Associate, Business Development
Mrs. Byrne, Business Development Senior Associate at CORE, is responsible for industry research and deal origination. Before joining CORE, she served as an Assistant Vice President and IR consultant at Alpha IR, an investor relations and transactions/crisis consulting firm, conducting financial analyses, investor research, and communications with institutional investors, bankers, and equity analysts. Prior to joining Alpha IR, Mrs. Byrne worked as a research associate at Akoya Capital Partners where she conducted market research and identified investment opportunities.
Mrs. Byrne received a Master in Business Administration from DePaul University with honors and a Bachelor of Science in economics from DePaul University. She enjoys running, golfing, and international travel.
Naama Erez
Research Analyst
Ms. Erez, Business Development Research Analyst at CORE, supports the Business Development team in industry research and deal origination. Prior to CORE, she served as a Research Analyst at NielsenIQ, a global data analytics company specializing in consumer intelligence.
Ms. Erez received her BA in Economics from the Maxwell School of Citizenship and Public Affairs at Syracuse University. Outside the office, she enjoys playing piano, attending comedy shows, and playing recreational sports in Chicago.
CORE strives to partner with business owners and management teams to build the strategies that can bring your company to the next level.
We seek deals in lower middle market manufacturing, industrial technology, and industrial services businesses and we highly value our relationships with the intermediary community.
CORE is continuously seeking the best and most experienced leaders to join our network of current and future portfolio companies across a variety of roles including CEO, CFO, and other C-suite positions.