CORE Industrial Companions Portfolio Firm CGI Automated Manufacturing Completes Acquisition of Elite Manufacturing Applied sciences

CHICAGO–(BUSINESS WIRE)–CORE Industrial Companions (“CORE”), a producing, industrial expertise, and industrial services-focused non-public fairness agency, introduced at this time the acquisition of Elite Manufacturing Applied sciences (“Elite” or the “Firm”), a number one provider of progressive precision sheet metallic elements and assemblies, by CORE portfolio firm CGI Automated Manufacturing (“CGI”). Elite is the sixth add-on acquisition to the CGI platform that CORE launched in August 2021.

Based in 1991, Elite focuses on manufacturing cupboards, consoles and electro-mechanical assemblies for the digital gaming {industry}. The Firm additionally gives elements and closing or near-final enclosures for quite a lot of different finish markets, together with medical, telecommunications, meals service and industrial tools.

Elite combines value-added design engineering companies with broad in-house main fabrication capabilities, together with laser reducing, punching, shearing, blanking, forming and welding, and ending operations, together with powder coating and silk-screening, to function a one-stop store for purchasers looking for each prime quality and fast lead occasions. Elite’s state-of-the-art tools and automation permit the Firm to concentrate on environment friendly manufacturing of advanced elements and assemblies whereas holding tight tolerances. Headquartered outdoors Chicago in Bloomingdale, Illinois, Elite operates two services totaling 145,000 sq. toes and holds each ISO 9001 and NSF certifications.

Matthew Puglisi, Companion at CORE, mentioned, “The acquisition of Elite aligns with the important thing tenets of our funding thesis centered on offering differentiated and automatic precision manufacturing options to industry-leading clients in fast-growing finish markets. Notably, Elite’s proprietary product design providing is a compelling addition to the CGI platform.”

Carey Chen, Chief Govt Officer of CGI, mentioned, “Elite’s complete metallic fabrication capabilities and investments in cutting-edge materials dealing with automation for twenty-four/7 manufacturing are a pure match with CGI and increase the platform’s capability and buyer worth proposition. We’re wanting ahead to collaborating with our neighbors and new colleagues within the western suburbs of Chicago.”

Jim Conlon, President of Elite, mentioned, “During the last 30 years, Elite has developed a powerful status for the utmost product design, innovation and high quality, particularly within the quickly rising digital gaming {industry}. Now, with the good thing about further sources and strategic help, we couldn’t be extra excited to associate with CGI and CORE to speed up our already explosive development trajectory.”

Winston & Strawn LLP supplied authorized illustration to CGI and CORE within the transaction. InterOcean Advisors acted as unique monetary advisor to Elite in reference to this transaction.

ABOUT CORE INDUSTRIAL PARTNERS:

CORE Industrial Companions is a non-public fairness agency with $700 million of capital commitments investing in North American decrease middle-market manufacturing, industrial expertise, and industrial companies companies. CORE’s group is comprised of extremely skilled former CEOs and funding professionals with shared beliefs, deep expertise, and a confirmed observe document of constructing market-leading companies. Via our capital, perception, and operational experience, CORE companions with administration groups and strives to construct best-in-class corporations. For extra data, go to www.coreipfund.com.

ABOUT CGI AUTOMATED MANUFACTURING:

CGI Automated Manufacturing is a number one supplier of advanced sheet metallic and machined manufacturing components, assemblies, and weldments for quite a lot of finish markets, together with electrical transmission and distribution, warehouse automation, expertise, aerospace & protection, medical, meals, and industrials. With places in Illinois, Wisconsin, Minnesota, Michigan, Indiana, Massachusetts and Oklahoma protecting over 650,000 sq. toes, CGI gives quite a few in-house manufacturing capabilities, together with laser reducing, sheet metallic fabrication, advanced meeting, CNC punching, CNC machining, forming, robotic welding, stamping, fastener insertion, and power and die manufacturing, to successfully serve clients with lights-out manufacturing capabilities for mid- to high-volume manufacturing. For extra data, go to www.cgiautomatedmanufacturing.com.

ABOUT ELITE MANUFACTURING TECHNOLOGIES:

Based in 1991, Elite Manufacturing Applied sciences is a number one provider of progressive precision sheet metallic elements, cupboards, consoles, and closing or near-final enclosures for quite a lot of finish markets, together with digital gaming, medical, telecommunications, meals service and industrial tools. Positioned outdoors Chicago in Bloomingdale, Illinois, Elite operates two services throughout 145,000 sq. toes and holds ISO 9001 and NSF certifications. For extra data, go to www.emt333.com.

https://www.businesswire.com/information/residence/20220601005201/en/CORE-Industrial-Companions-Portfolio-Firm-CGI-Automated-Manufacturing-Completes-Acquisition-of-Elite-Manufacturing-Applied sciences

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