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Core Industrial Partners buys into CGI Automated Manufacturing to enhance sheet metal engineering capabilities

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Chicago-based buyout house Core Industrial Partners has acquired sheet metal fabrication company CGI Automated Manufacturing following the launch of its new metal sheet engineering business last year.

The investment was made from Core Industrial Partners Fund II which was closed on $465m in February.

Founded in 1976, CGI specialises on short lead times for mid-to-high volume sheet mental production parts and manufacturing services including laser cutting, CNC punching, robotic welding, fastener insertion and assembly. Clients include the medical, food, lighting and industrials sectors.

The firm said the investment will expand the company’s geographic reach and market mix through acquisitions.

John May, managing partner of CORE, said, “Our investment in CGI aligns well with our continued focus on partnering with founder- and family-owned businesses that embrace powerful Industry 4.0 trends.  CGI’s historical focus on technology and automation combined with quick turnaround times, outstanding customer service and precision manufacturing capabilities make the business an ideal new platform investment.”

Core completed the buyouts of Incodema and Newcut in July to launch a new business specialising in metal sheet engineering and photo-chemical etching.

Incodema offers sheet metal cutting and forming including laser, micro waterjet, specialty stamping, multislide and welding, while Newcut is one of the nation’s oldest photo chemical etching providers.

At the end of last year Core bought Dahlquist Machine, a provider of precision machined components primarily for the medical and instrumentation end markets, to bolt on to Incodema.

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