As part of CORE Industrial Partners, industrial manufacturing and technology focused private equity firm Gem Manufacturing acquired Coining Manufacturing and Precision Machine Products. The companies are focused on machining with die press stamping and CNC, as well as wire electrical discharge machining for high-precision components in industries such as aerospace and defense and electronics.
Coining Manufacturing and Precision Machine Products provide progressive die stamping, screw machining, CNC machining, wire electrical discharge machining and related secondary manufacturing. The companies serve a variety of end markets, including aerospace and defense, medical, electronics and semiconductor, for numerous product types and demanding end use applications.
With a fleet of tools, dies and fixtures designed, built and maintained in-house, the companies provide piercing, slotting, drawing, coining, trimming, tapping, deburring and bending. Beyond milling and drilling, Coining and PMP can perform advanced machine operations, including knurling, counterboring and threading, in order to create complicated geometries and multifaceted structures with tight tolerances. For their markets, Coining and PMP produce microelectronic and sonic packages, sensors, implantable devices, connectors, terminals, solder cups, thermocouple pins and seal headers. They work with common materials such as aluminum, copper and stainless steel, but also manufacture parts from difficult metals, including titanium, Kovar, Inconel, Alumel and Chromel.
Matthew Puglisi, partner at CORE, said, “Coining and PMP offer differentiated, highly technical manufacturing capabilities and a long track record of working with customers in demanding, high-growth end markets to produce precision components for mission-critical applications. We believe these acquisitions are compelling additions to the Gem platform, and we look forward to pursuing additional inorganic growth opportunities.”
CORE Industrial Partners is a private equity firms with $700 million of capital commitments investing in North American lower middle-market manufacturing, industrial technology and industrial services businesses. The company’s name is an acronym standing for its four main values: collaboration, outperformance, respect and ethics.
Gem Manufacturing provides precision deep drawn metal components and mechanical assemblies for a variety of end markets, including electric vehicle, mining and aerospace and defense. The company offers vertical transfer and progressive die press stamping, as well as CNC and wire electrical discharge machining to manufacture high-precision components.
Rock Lambert, operating partner at CORE, said, “From manufacturing capabilities and geographic location to customer bases and end market focus, Coining and PMP are highly complementary and strategic fits with Gem. We’re excited to augment both the depth and breadth of the platform’s value proposition in support of our valued customers.”
