CHICAGO, March 16, 2023—(BUSINESS WIRE)–CORE Industrial Partners (“CORE”), a private equity firm focused on manufacturing, industrial technology and industrial services, today announced the acquisition of Phoenix Proto Technologies (“Phoenix Proto” or the “Company”), an on-demand manufacturing services provider with expertise in rapid tooling and injection molding, from CORE portfolio company RE3DTECH + GoProto (“RE3DTECH”).
With over a decade of industry experience, Phoenix Proto specializes in design, production-quality aluminum tooling and die-casting services for prototype through quantity part manufacturing. 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 and defense, consumer and industrial end markets.
Rock Lambert, CORE Operating Partner and Chairman of RE3DTECH, said: “Phoenix Proto’s unique in-house capabilities lead to a differentiated value proposition that has led to a reputation for excellent turnaround times and flexible, consultative customer service. The company’s expertise in injection molding complements our additive manufacturing and CNC machining capabilities at RE3DTECH, expanding our ability to offer both prototypes and production volumes across technologies. We are excited to continue to expand our service offering and cover more needs of our valued customers.”
Bob Lamon, 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 deep 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 the perfect fit both in terms of culture and long-term strategy. We are 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 KEY INDUSTRIAL PARTNERS:
CORE Industrial Partners is a private equity firm with $700 million in capital commitments investing in North American manufacturing, industrial technology and industrial services businesses. The CORE team is comprised of seasoned former CEOs and investment professionals with shared beliefs, deep expertise 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 prototyping through production quantities of parts. Founded in 2008 and headquartered in Michigan, the company specializes in design, quality aluminum tooling and die casting services for customers in the medical, aerospace and defense, consumer and industrial end markets. For more information, visit www.phoenixproto.com.
FOR RE3DTECH + GOPROTO:
RE3DTECH + GoProto is a custom manufacturing service provider with a comprehensive range of additive and traditional manufacturing technologies. The company specializes in additive manufacturing services for manufacturing parts for a variety of end markets, including medical, electronics, consumer, automotive, aerospace and defense, automated and industrial, among others. With locations in Illinois, California and New York, RE3DTECH offers numerous additive manufacturing capabilities, including multijet synthesis, fused deposition modeling, selective laser sintering, stereolithography and polyjet printing. For more information, visit www.re3dtech.com.
Check out the source version on businesswire.com: https://www.businesswire.com/news/home/20230316005337/en/