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CORE-backed CGI closes purchase of Elite Manufacturing

Elite is the sixth add-on acquisition to the CGI platform that CORE launched in August 2021.

  • Elite specializes in manufacturing cabinets, consoles, and electro-mechanical assemblies for the electronic gaming industry.
  • It also provides components and final or near-final enclosures for a variety of other end markets, including medical, telecommunications, food service and industrial equipment.
  • InterOcean Advisors acted as exclusive financial advisor to Elite in connection with this transaction.

CGI Automated Manufacturing, a portfolio company of CORE Industrial Partners, has acquried Elite Manufacturing Technologies.

CGI Automated Manufacturing is a provider of complex sheet metal and machined production parts, assemblies, and weldments for a variety of end markets, including electrical transmission and distribution, warehouse automation, technology, aerospace & defense, medical, food, and industrials.

Headquartered outside Chicago in Bloomingdale, Illinois and founded in 1991, Elite operates two facilities totaling 145,000 square feet and holds both ISO 9001 and NSF certifications.

“The acquisition of Elite aligns with the key tenets of our investment thesis focused on providing differentiated and automated precision manufacturing solutions to industry-leading customers in fast-growing end markets, said Matthew Puglisi, Partner at CORE.

CORE 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.