Prototek, a portfolio company of CORE Industrial Partners, has acquired Cal-X. Financial terms weren’t announced. Cal-X, of Grafton, Wisconsin, provides precision machining and sheet metal fabrication rapid prototyping services.
CORE INDUSTRIAL PARTNERS’ PORTFOLIO COMPANY PROTOTEK ACQUIRES CAL-X
Chicago, IL, July 11, 2019 – CORE Industrial Partners (“CORE”), a Chicago-based private equity firm, announced today the acquisition of Cal-X, Inc. (“Cal-X” or the “Company”), a provider of precision machining and sheet metal fabrication rapid prototyping services, by CORE portfolio company Prototek. Financial terms of the transaction were not disclosed.
Headquartered in Wisconsin, Cal-X offers rapid prototyping and short-run production services through its wide breadth of in-house capabilities. Founded in 2002, Cal-X serves a blue-chip customer base across a broad mix of end markets, including medical, robotics & electronics, aerospace, and transportation. The Company’s key capabilities include CNC milling & turning, laser & waterjet cutting, and painting & silk screening.
Bill Gress, Chief Executive Officer of Prototek, said, “The acquisition of Cal-X represents another great example of our commitment to building a leading rapid prototyping service provider. We specialize in delivering the impossible and now we will bring this service on a nationwide scale. Cal-X rounds out our portfolio of capabilities and services that places us as the logical choice of rapid prototype providers.”
Tom Jaskolski, President and Founder of Cal-X said, “Being a part of the Prototek platform is a very exciting opportunity for myself, and the employees of Cal-X, to take our combined businesses to the next level. We look forward to working together with the Prototek team to accelerate growth and continue providing our customers with best-in-class service, technical capabilities and turnaround times for all of their rapid prototyping and short-run production needs.”
Matthew Puglisi, Partner of CORE, said, “Cal-X is highly complementary to Prototek across a number of critical strategic dimensions, including technical capabilities, end markets, customers and geography. The addition of Cal-X makes Prototek a clear national rapid prototyping provider with the ability to efficiently serve the entire North American market.”
Monroe Capital LLC provided financing for the acquisition. Winston & Strawn LLP provided legal representation to CORE and Prototek 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.
Prototek is a leading rapid prototyping service provider of CNC machined and sheet metal fabricated parts and components for a variety of end markets, including aerospace, defense, medical, robotics, electronics, consumer, and general industrial. Headquartered in Contoocook, NH, Prototek serves a diverse customer base with numerous in-house manufacturing capabilities across two dedicated facilities in New Hampshire. Additionally, Prototek’s West Coast facility located in Sunnyvale, CA offers high-precision machining of various metals and plastics, along with multiple capabilities in electro-mechanical assembly and continuous manufacturing. For more information, visit www.prototek.com.
Cal-X is a provider of sheet metal fabrication and precision machining services, with a focus on rapid prototyping and short-run production. Headquartered in Grafton, WI, Cal-X serves a diverse customer base across a variety of end markets, including medical, electronics and robotics, aerospace, and transportation. For more information, visitwww.calxinc.com.