TMCnet News
CORE Industrial Partners' Portfolio Company Prototek Acquires Cal-XCORE Industrial Partners ("CORE"), a Chicago-based private equity firm, announced today the acquisition of Cal-X, Inc. ("Cal-X" or the "Company"), a provider of precision machining and sheet metal fabrication rapid prototyping services, by CORE portfolio company Prototek. Financial terms of the transaction were not disclosed. Headquartered in Wisconsin, Cal-X offers rapid prototyping and short-run production services through its wide breadth of in-house capabilities. Founded in 2002, Cal-X serves a blue-chip customer base across a broad mix of end markets, including medical, robotics & electronics, aerospace, and transportation. The Company's key capabilities include CNC milling & turning, laser & waterjet cutting, and painting & silk screening. Bill Gress, Chief Executive Officer of Prototek, said, "The acquisition of Cal-X represents another great example of our commitment to building a leading rapid prototyping service provider. We specialize in delivering the impossible and now we will bring this service on a nationwide scale. Cal-X rounds out our portfolio of capabilities and services that places us as the logical choice of rapid prototype providers." Tom Jaskolski, President and Founder of Cal-X said, "Being a part of the Prototek platform is a very exciting opportunity for myself, and the employees of Cal-X, to take our combined businesses to the next level. We look forward to working together with the Prototek team to accelerate growth and continue providing our customers with best-in-class service, technical capabilities and turnaround times for all of their rapid prototyping and short-run production needs." Matthew Puglisi, Partner of CORE, said, "Ca-X is highly complementary to Prototek across a number of critical strategic dimensions, including technical capabilities, end markets, customers and geography. The addition of Cal-X makes Prototek a clear national rapid prototyping provider with the ability to efficiently serve the entire North American market." Monroe Capital LLC provided financing for the acquisition. Winston & Strawn LLP provided legal representation to CORE and Prototek in the transaction.
ABOUT CORE INDUSTRIAL PARTNERS:
ABOUT PROTOTEK:
ABOUT CAL-X:
View source version on businesswire.com: https://www.businesswire.com/news/home/20190711005064/en/ |