Cadrex acquires Precision Metal Fab and Precision Tool & Die

CORE Industrial Partners, a Chicago-based private equity firm, announced today the acquisitions of Precision Metal Fab and Precision Tool & Die, a provider of metal cutting and forming solutions, by CORE portfolio company Cadrex (previously CGI Manufacturing Holdings). 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 Cadrex (CGI) platform. We look forward to leveraging the broader capabilities of Cadrex (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 Cadrex (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 Cadrex (CGI) and CORE in the transaction.