PE-backed Cadrex acquires manufacturer IDL Precision Machining

Winston & Strawn LLP provided legal representation to Cadrex and CORE in the transaction.

  • Cadrex is a provider of complex sheet metal and machined production parts, assemblies, and weldments
  • IDL was founded in 1987
  • CORE Industrial Partners invests in North American lower middle-market manufacturing, industrial technology and industrial services businesses

Cadrex Manufacturing Solutions, which is backed by CORE Industrial Partners, has acquired Mukilteo, Washington-based IDL Precision Machining, a maker of precision components and assemblies primarily for the aerospace & defense end market. No financial terms were dislcosed.

Previously known as CGI Manufacturing Holdings, the recently relaunched Cadrex platform now includes nine business units with approximately 1.5 million square feet of manufacturing space and more than 2,000 employees across nine states as well as Mexico.

IDL was founded in 1987.

On the deal, Matthew Puglisi, a partner at CORE, said in a statement, “We believe IDL is a highly synergistic add-on to Cadrex. In addition to broadening the platform’s reach to include new, market-leading customers across numerous segments within the attractive aerospace & defense sector, the acquisition of IDL also provides incremental complex precision machining capabilities and a compelling new geographic location in the Pacific Northwest.”

Winston & Strawn LLP provided legal representation to Cadrex and CORE in the transaction.
CORE Industrial Partners invests in North American lower middle-market manufacturing, industrial technology, and industrial services businesses.

Cadrex is a provider of complex sheet metal and machined production parts, assemblies, and weldments.