Core Industrial Partners, a manufacturing, industrial technology and industrial services-focused private equity firm, has bought Gem Manufacturing, a provider of metal parts and mechanical assemblies.
Founded in 1950, Gem uses vertical transfer and die press technology to manufacture parts spanning from prototype through applications. The company works with aluminum, copper, brass, stainless and carbon steel, Inconel and Monel, among other metals, and serves the electric vehicle, mining, aerospace and defense and industrial end-markets, as well as others. Gem represents the fifth platform investment in Core Industrial Partners Fund II, a $465 million fund.
“Gem’s broad manufacturing capabilities, extensive capacity, international reach, and collaborative, customer-oriented approach collectively form a compelling foundation as a new platform investment,” comments Matthew Puglisi, partner at Core. “We’re eager to work with the Gem team to expand its value proposition and market reach through both strategic initiatives and complementary acquisitions.”
Winston & Strawn LLP provided legal representation to Core in the transaction.