CORE Industrial Partners Portfolio Company GEM Manufacturing Expands with Acquisition of Coining Manufacturing and Precision Machine Products

Coining Manufacturing, LLC and Precision Machine Products, Inc., two providers of specialty stamping and machining services, have been acquired by GEM Manufacturing, a portfolio company of CORE Industrial Partners. The acquisition will enhance GEM's capabilities in precision metalworking and allow for strategic growth opportunities in various industries.

Coining Manufacturing, founded in 1990, specializes in progressive die stamping, screw machining, CNC machining, and wire EDM manufacturing technologies. The company utilizes in-house designed and maintained tools, dies, and fixtures to produce complex precision components. They offer various services including piercing, slotting, drawing, coining, trimming, tapping, deburring, bending, and advanced machining operations like knurling, counterboring, and threading.

Precision Machine Products, on the other hand, focuses on producing precision components for mission-critical applications. The company serves industries such as aerospace & defense, medical, electronics, and semiconductor. They specialize in manufacturing parts from a wide range of metals, including difficult metals like titanium, Kovar, Inconel, Alumel, and Chromel.

With the acquisition of Coining Manufacturing and Precision Machine Products, GEM Manufacturing will be able to expand its value proposition in terms of manufacturing capabilities and geographic reach. The strategic fit between the companies will allow GEM to better serve its customers in demanding and high-growth end markets.

The leadership at CORE Industrial Partners is excited about the potential inorganic growth opportunities that these acquisitions bring to the GEM platform. The addition of Coining and PMP to the GEM portfolio will provide the company with differentiated and highly technical manufacturing capabilities, further strengthening their position as a leading provider of precision metal components and mechanical assemblies.

Both Ed Farley and John Lipari, Directors and Owners of Coining and PMP, express their confidence in the partnership with GEM and CORE. They believe that GEM's resources and strategic guidance will support the next phase of growth for the company. They also acknowledge the importance of their highly skilled workforce, which has been instrumental in the consistent growth of the company over the past decade.

Winston & Strawn LLP provided legal representation to CORE in the transaction, ensuring a smooth acquisition process.

CORE Industrial Partners is a private equity firm that focuses on investing in North American lower middle-market manufacturing, industrial technology, and industrial services businesses. With $700 million of capital commitments, CORE partners with management teams to build best-in-class companies. Their team consists of experienced former CEOs and investment professionals who bring insight and operational expertise to their portfolio companies.

GEM Manufacturing, a provider of precision deep drawn metal components and mechanical assemblies, is headquartered in Waterbury, Connecticut, with a facility in Vietnam. The company serves various industries, including electric vehicle, mining, aerospace & defense, and industrials. Their capabilities include vertical transfer and progressive die press stamping, CNC machining, and wire electrical discharge machining.

Coining Manufacturing LLC and Precision Machine Products are providers of progressive die stamping, screw machining, CNC machining, wire EDM, and related secondary manufacturing capabilities. The companies serve multiple industries, including aerospace & defense, medical, electronics, and semiconductor. With an ISO 9001-certified facility in Clifton, New Jersey, they are known for their outstanding quality, customer service, and vertically integrated capabilities.

The acquisition of Coining Manufacturing and Precision Machine Products by GEM Manufacturing marks an exciting new chapter in the growth and expansion of these companies. With their combined expertise and capabilities, they are well-positioned to meet the evolving needs of their customers and excel in the precision metalworking industry.