CORE Industrial Partners Portfolio Company PrecisionX Group Acquires National Manufacturing

CORE Industrial Partners (“CORE”), a manufacturing, industrial technology, and industrial services-focused private equity firm, announced today the acquisition of National Manufacturing Co. (“National” or the “Company”), a provider of specialty deep and shallow drawn stamping, by CORE portfolio company PrecisionX Group (“PrecisionX”). CORE previously acquired GEM Manufacturing, a provider of precision deep drawn metal components, in February 2023, and Coining, a provider of progressive die stamping as well as screw, CNC, and wire EDM machining capabilities, in June 2023, to form PrecisionX.

Founded in 1944, National offers precision deep and shallow drawn enclosures and metal components, high-speed CNC milling and turning, and wire EDM and sinker capabilities as well as numerous value-added finishing operations, including plating, anodizing, painting, powder coating, welding, and riveting. With in-house tooling design and fabrication capabilities and an expansive library of tools, the Company specializes in working with custom complex shapes, sharp corners, and exotic and difficult-to-draw materials, including ferrous & non-ferrous, titanium, nickel, tantalum, Inconel, Hastelloy, Kovar, and Monel. Further, National’s ability to collaborate with customer engineering teams during the design phase can help expedite the process of bringing new products to market and ensure leading product quality in terms of both performance and aesthetics.

Serving a variety of end markets, including aerospace & defense, electronics and industrials, National offers especially deep experience in the medical end market across various implantable devices, including pacemakers, defibrillators, batteries and capacitors. Headquartered in Piscataway, New Jersey, and operating in a 90,000 square foot facility with more than 150 machines, the Company holds ISO13485, AS9100, and ISO9001 certifications and an ITAR registration.

Matthew Puglisi, Partner at CORE, said, “We believe National is well-positioned at the forefront of the deep and shallow drawn specialty stamping space following decades of providing differentiated technical capabilities and outstanding customer service. We will continue to work to expand our presence in high-growth, technically demanding end markets, including medical and aerospace & defense, through execution of both organic and inorganic growth initiatives.”

Rock Lambert, Operating Partner at CORE, said, “We believe the Company represents an ideal addition to the PrecisionX platform. National’s certifications speak to the Company’s dedicated focus on quality, and we’re eager to work with the talented National team to combine that strong commitment to quality with excess manufacturing capacity and PrecisionX support and resources to grow the business with both existing and new customers.”

ABOUT CORE INDUSTRIAL PARTNERS:

CORE is an industrials-focused private equity firm with more than $1.58 billion in total limited partner capital commitments across four funds investing in North American lower middle-market manufacturing, industrial technology and industrial services businesses. With offices located in Chicago, Austin and Cleveland, CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience, and a demonstrated track record of building market-leading businesses. Through our capital, insight, and operational expertise, CORE partners with families, entrepreneurs and management teams and strives to build best-in-class companies. For more information, visit www.coreipfund.com.

ABOUT PRECISIONX GROUP:

PrecisionX Group is a provider of precision metal components and mechanical assemblies for critical use applications in a variety of end markets, including aerospace & defense, electric vehicle, mining, semiconductor, medical, and industrials. Headquartered in Waterbury, Connecticut, PrecisionX utilizes deep draw and progressive die stamping as well as screw, CNC and wire EDM machining technologies to manufacture high-precision components from prototyping through high-volume production. For more information, visit www.precisionxmfg.com.

ABOUT NATIONAL MANUFACTURING:

National Manufacturing Co. is a provider of specialty deep and shallow drawn stamping, CNC milling and turning, and wire EDM and sinker manufacturing capabilities. The Company serves a variety of end markets, including aerospace & defense, medical, electronics and industrials through a fleet of over 150 machines. Headquartered in Piscataway, New Jersey, and operating from a 90,000 square foot facility, the Company holds ISO13485, AS9100 and ISO 9001 certifications and is ITAR-registered. For more information, visit www.natlmfg.com.

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