CORE Industrial Partners acquires Precision Metal Fab and Precision Tool & Die
CORE Industrial Partners, a Chicago-based private equity firm, has acquired Precision Metal Fab and Precision Tool & Die (PMF, collectively), a provider of metal cutting and forming solutions, via CORE portfolio company CGI Automated Manufacturing. The transactions follow CORE’s acquisition of CGI in August and Advanced Laser Machining (AL) in October.
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-kW fiber-optic lasers can reportedly cut up to 1.2-inch-thick mild steel, stainless, aluminum, brass and copper while holding tolerances up to .003 inches. PMF’s full array of fabrication capabilities support initial engineering and design assistance through prototyping and high-volume production; it features presses ranging from 60-300 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.
Matthew Puglisi, partner of CORE, says, “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.”
Headquartered in Ponca City, Okla., PMF serves a nationwide customer base from its centrally located 60,000 square foot facility. Greg Neisen, president of PMF, says, “On behalf of 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.”
