CHICAGO--(BUSINESS WIRE)--CORE Industrial Partners ("CORE"), a Chicago-based private equity firm, today announced the acquisition of Precision Metal Fab and Precision Tool & Die (collectively referred to as "PMF" or " Company") ), a metal cutting and forming solutions provider, provided by CGI Automated Manufacturing ("CGI"), a CORE portfolio company. These transactions were conducted after CORE acquired CGI in August and Advanced Laser Machining ("AL") in October.
PMF was established in 1978 and specializes in CNC laser cutting, stamping, metal mold forming, welding and assembly, suitable for a variety of end market applications, including warehouse automation, food equipment, HVAC, and utilities. PMF's 10 kW and 15 kW fiber lasers are equipped with automatic loading technology and can cut mild steel, stainless steel, aluminum, brass, and copper up to 1.2 inches thick while maintaining tolerances of up to 0.003 inches. Combined with 60 to 300 ton presses for short- and long-term continuous stamping and various auxiliary services, including bending forming, PEM insertion, assembly and packaging, PMF's full set of manufacturing capabilities support initial engineering and design through prototyping and mass production provide help. PMF is headquartered between Oklahoma City, Tulsa and Wichita in Ponca City, Oklahoma, and serves a national customer base through its centrally located 60,000 square foot facility.
CORE partner Matthew Puglisi said: “From the most advanced equipment to light-off automation, we believe that PMF is at the forefront of metal manufacturing technology and is very suitable for the CGI platform. We look forward to leveraging the broader capabilities of CGI, PMF and AL to drive organic growth. , While continuing to seek strategic acquisition opportunities."
PMF President Greg Neisen said: “On behalf of my brother Mike, my sister Debbie and the entire PMF team, we look forward to joining the CGI platform and combining the company’s respective strengths to continue to exceed the expectations of our valued customers.”
Winston & Strawn LLP provided legal representation for CGI and CORE in the transaction.
CORE Industrial Partners is a Chicago-based private equity company with a capital commitment of US$700 million to invest in manufacturing, industrial technology and service businesses in the low- and mid-market North America. CORE's team is composed of experienced former CEOs and investment professionals who share common beliefs, deep experience, and a good record of establishing market-leading businesses. Through our capital, insight and operational expertise, CORE works with the management team and strives to build a first-class company. For more information, please visit www.coreipfund.com.
CGI Automated Manufacturing ("CGI") was established in 1976 and is a supplier of complex sheet metal production parts, assemblies and weldments for various end markets, including power transmission and distribution, medical, food, lighting, and industry. CGI, headquartered outside Chicago, provides numerous in-house manufacturing capabilities to effectively provide customers with light-off manufacturing services for medium to high-volume production. For more information, please visit www.cgiautomatedmanufacturing.com.
Advanced Laser Machining ("AL") was established in 1996 and is a full-service provider of metal-focused contract manufacturing solutions for various end markets, including supercomputing, aerospace and defense, medical, transportation, and industry. AL is headquartered in Chippewa Falls, Wisconsin, has four factories and holds ISO 9001:2015, AS9100 and American Welding Association certifications. For more information, please visit www.laser27.com.
About precision metal manufacturing and precision tools and molds:
Precision Metal Fab and Precision Tool & Die (collectively referred to as "PMF") were established in 1978. They are a supplier of metal cutting and forming solutions for warehouses and other end markets, including CNC laser cutting, stamping, metal mold forming, and welding And assembly. Automation, food equipment, HVAC and utilities. PMF operates a 60,000 square foot factory in Ponca City, Oklahoma. For more information, please visit www.ptdie.com.
Jeremy Milner BackBay Communications (401) 862-9422 jeremy.milner@backbaycommunications.com
Core industrial partner investment portfolio company CGI Automation Manufacturing acquires precision metal manufacturing plants and precision tools and molds
Jeremy Milner BackBay Communications (401) 862-9422 jeremy.milner@backbaycommunications.com