Market Overview

CORE Industrial Partners Acquires Midwest Composite Technologies, Establishing Industry 4.0 Platform

Share:

CORE Industrial Partners ("CORE"), a Chicago-based private equity firm,
today announced that it has acquired Midwest Composite Technologies,
Inc. ("MCT" or the "Company"), a leading additive manufacturer of
prototype and low-volume production components, establishing an industry
technology 4.0 platform that it plans to build upon. Financial terms of
the transaction were not disclosed.

Industry 4.0 refers to the Fourth Industrial Revolution, where companies
use automation and data sharing in a cyber-physical system to
communicate and cooperate in the manufacturing process over the Internet
of Things (IoT) in a smart factory.

Founded in 1984, MCT offers 3D prototyping and low-volume production
services through a fleet of over 40 additive manufacturing machines,
including in-house selection laser sintering ("SLS"), direct metal laser
sintering ("DMLS"), polyjet printing ("PJET"), stereolithography
("SLA"), fused deposition modeling ("FDM") and multi jet fusion ("MFJ")
technologies. In addition to 3D printing and processing, the Company
also offers CNC machining, injection molding and industrial design
capabilities to a diversified customer base primarily in the medical,
aerospace, research & development, consumer and general industrials end
markets. MCT is headquartered in Hartland, Wisconsin, and operates out
of a 120,000 square foot facility.

John May, Managing Partner and Founder of CORE, said, "MCT is an
important acquisition for CORE as it will serve as the platform
investment for building a cutting-edge Industry 4.0 additive
manufacturing company through both organic growth and complementary
add-on acquisitions. Combining tireless customer service with
outstanding technical capabilities, the Company is a trusted partner to
its blue-chip customer base. It is an honor to partner with MCT and we
look forward to working collaboratively with their entire team."

Helmut Keidl, President and Founder of MCT said, "On behalf of the Keidl
family and all MCT employees, we are thrilled to partner with the CORE
team. For three decades, Midwest Composite has been on the cutting edge
of the burgeoning additive manufacturing industry, and now with access
to CORE's extensive resources and network of seasoned operating
professionals, we are eager to work together to drive explosive growth
in the business."

TJ Chung, Senior Partner at CORE, who will become Chairman of the MCT
Board of Directors, said, "MCT's full suite of in-house additive
manufacturing technologies facilitates industry-leading turnaround
times, including same-day processing and shipping. Our investment in the
Company is representative of our desire to acquire leading lower middle
market industrial technology businesses where we can utilize our unique
experience as both investors and operators to identify and execute
against a clear set of value creation initiatives."

Monroe Capital provided financing for the acquisition. Norton Rose
Fulbright US LLP provided legal representation to CORE in the
transaction.

ABOUT CORE INDUSTRIAL PARTNERS:
CORE Industrial Partners is
a Chicago-based private equity firm investing in North American lower
middle-market manufacturing and industrial technology businesses. CORE's
team is comprised of highly experienced former CEOs and investment
professionals with shared beliefs, deep experience and a proven track
record of building market leading businesses. Through our capital,
insight and operational expertise, CORE partners with management teams
to create unique value, grow revenues and consistently deliver lasting
results. For more information, visit www.coreipfund.com.

ABOUT MIDWEST COMPOSITE TECHNOLOGIES, INC:
Midwest Composite
Technologies is a leading additive manufacturer of prototype and
low-volume production components for a variety of end markets, including
medical, aerospace, research & development, consumer and general
industrials. Founded in 1984, MCT is headquartered in Hartland,
Wisconsin, and serves a diverse customer base from a 120,000 square foot
facility. For more information, visit www.midwestcomposite.com.

View Comments and Join the Discussion!