CHICAGO — (BUSINESS WIRE) — March 16, 2023 — CORE Industrial Partners (“CORE”), a manufacturing, industrial technology, and industrial services-focused private equity firm, announced today the acquisition of Phoenix Proto Technologies (“Phoenix Proto” or the “Company”), a provider of on-demand manufacturing services with expertise in rapid tooling and injection molding, by CORE portfolio company RE3DTECH + GoProto (“RE3DTECH”).
With more than a decade of industry experience, Phoenix Proto specializes in design, production-quality aluminum tooling and injection molding services for prototype through production quantity parts. In addition to tooling and injection molding, the Company also offers CNC machining and additive manufacturing services. Founded in 2008 and headquartered in Michigan, Phoenix Proto serves customers in the medical, aerospace & defense, consumer, and industrial end markets.
Rock Lambert, Operating Partner at CORE and Chairman of RE3DTECH, said, “Phoenix Proto’s unique in-house capability drives a differentiated value proposition that has resulted in a reputation for excellent turnaround times and flexible, consultative customer service. The Company’s injection molding expertise complements our additive manufacturing and CNC machining capabilities at RE3DTECH, expanding our ability to offer both prototyping as well as production volumes across technologies. We are excited to continue to broaden our service offering and cover more needs of our valued customers.”
Bob Lammon, founder of Phoenix Proto, said, “Since I founded Phoenix Proto, we have been committed to helping our customers turn their design concepts into quality products by leveraging our depth of technical knowledge and best-in-class engineering solutions. Our family, along with a great employee base, have built a differentiated business over the last 15 years, and we believe RE3DTECH is a perfect fit in terms of both culture and long-term strategy. We’re proud and excited to have CORE as a partner as we enter a new chapter of growth for Phoenix Proto.”
Winston & Strawn LLP provided legal representation to CORE in the transaction.
ABOUT CORE INDUSTRIAL PARTNERS:
CORE Industrial Partners is a private equity firm with $700 million of capital commitments investing in North American lower middle-market manufacturing, industrial technology, and industrial services businesses. 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 management teams and strives to build best-in-class companies. For more information, visit www.coreipfund.com.
ABOUT PHOENIX PROTO TECHNOLOGIES:
Phoenix Proto is a provider of on-demand manufacturing services for prototype through production quantity parts. Founded in 2008 and headquartered in Michigan, the Company specializes in design, production-quality aluminum tooling and injection moldings services for customers in the medical, aerospace & defense, consumer, and industrial end markets. For more information, visit www.phoenixproto.com.
ABOUT RE3DTECH + GOPROTO:
RE3DTECH + GoProto is a provider of custom manufacturing services with a comprehensive suite of both additive and traditional manufacturing technologies. The Company specializes in additive manufacturing services for production-grade parts across a variety of end markets, including medical, electronics, consumer, automotive, aerospace and defense, automation and industrial, among others. With locations in Illinois, California and New York, RE3DTECH offers numerous additive manufacturing capabilities, including multi-jet fusion, fused deposition modeling, selective laser sintering, stereolithography, and polyjet printing. For more information, visit www.re3dtech.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230316005337/en/
Contact:
Jeremy Milner
BackBay Communications
(401) 862-9422
jeremy.milner@backbaycommunications.com
