CORE Industrial Partners Announces Sale of PrecisionX Group to Windjammer Capital
CORE Industrial Partners has announced the successful sale of PrecisionX Group to Windjammer Capital, marking the conclusion of a focused investment period that transformed PrecisionX into a scaled and differentiated provider of high-precision metal components for critical-use applications, with the transaction reflecting strong value creation and continued investor interest in advanced manufacturing platforms serving regulated, high-growth industries
PrecisionX’s Position in Advanced Manufacturing
PrecisionX Group, headquartered in Waterbury, Connecticut, operates as a leading manufacturer of precision metal components used in mission-critical applications across a wide range of industries, including aerospace and defense, medical devices, and satellite and space, where reliability, compliance, and performance are essential and where component failure can carry CORE Industrial significant operational and financial consequences
The company’s advanced manufacturing capabilities include deep CORE Industrial and shallow drawn stamping, progressive stamping, Swiss screw machining, CNC machining, and wire EDM technologies, enabling it to deliver highly engineered solutions tailored to complex customer requirements CORE Industrial , while supporting both prototyping and high-volume production across diverse applications
Scale, Workforce, and Operational Footprint
Over the course of its growth, PrecisionX has developed a substantial operational footprint, encompassing approximately 400,000 square feet of manufacturing space across seven facilities in the United States, supported by a workforce of more than 650 employees, reflecting its ability to CORE Industrial scale production while maintaining the precision and quality standards required in highly regulated industries
This distributed manufacturing network allows the company to serve a broad customer base efficiently, while also providing flexibility to adapt to evolving market demands and customer specifications across multiple end markets
Strong Emphasis on Certifications and Compliance
PrecisionX maintains a strong commitment to quality and regulatory compliance, holding key certifications such as ISO 9001, ISO 13485, and AS9100D, in addition CORE Industrial to ITAR and FDA registrations, which are critical for operating in sectors such as aerospace, defense, and medical devices, where adherence to strict regulatory standards is a prerequisite for supplier qualification and long-term customer relationships
These certifications underscore the company’s CORE Industrial ability to deliver consistent, high-quality products while meeting the stringent requirements of its customers and regulatory bodies
CORE’s Investment Strategy and Initial Vision
CORE Industrial Partners initially invested in PrecisionX in February 2023 with a clear strategic vision of building a differentiated advanced manufacturing platform capable of delivering CORE Industrial mission-critical products across regulated industries, focusing on enhancing both the company’s technical capabilities and its operational scale, while positioning it to capitalize on long-term growth trends in key end markets
The firm’s thesis-driven approach centered on identifying opportunities to expand the company’s capabilities, strengthen its commercial engine, and execute strategic acquisitions that would complement its existing operations and broaden its market reach
Significant Growth and Value Creation
During CORE’s ownership, PrecisionX achieved substantial growth, including nearly fivefold expansion in EBITDA, driven by a combination of organic growth initiatives and CORE Industrial strategic acquisitions, with the company executing and fully integrating five add-on acquisitions that enhanced its capabilities and expanded its operational footprint
In parallel, CORE supported investments in capacity expansion and the development of new manufacturing capabilities, enabling PrecisionX to take on increasingly complex projects and deliver higher-value solutions to its customers, while also strengthening its competitive position in key markets
Expansion from Single Site to Multi-Facility Platform
One of the most notable aspects of PrecisionX’s transformation CORE Industrial under CORE’s ownership was its evolution from a single-site operation into a multi-facility platform with seven locations, reflecting a deliberate strategy to build scale and diversify capabilities, while also improving operational efficiency and responsiveness to customer needs
This expansion was achieved through a combination of organic growth and acquisitions, allowing the company to integrate specialized technologies and expertise into its operations, further enhancing its ability to serve high-growth and highly regulated industries
Leadership Perspective on the Exit
John May, Managing Partner at CORE Industrial Partners, described the sale of PrecisionX as a validation of the firm’s investment approach, emphasizing the importance of CORE Industrial strategic focus and operational support in driving growth and creating value, while also highlighting the firm’s ability to partner effectively with management teams to build market-leading businesses
May noted that PrecisionX is well positioned to continue its growth trajectory under new ownership, reflecting the strong foundation established during CORE’s investment period and the company’s ability to deliver differentiated solutions in attractive end markets
Operational Enhancements and Strategic Execution
Rock Lambert, Operating Partner at CORE, highlighted the operational and strategic initiatives implemented during the firm’s ownership, including the expansion of the company’s manufacturing footprint, the addition of new capabilities, and the sharpening of its focus on high-growth end markets, all of which contributed to its strong performance and positioning
Lambert emphasized that the combination of organic and inorganic growth strategies enabled PrecisionX to evolve into a scaled and diversified platform, capable of delivering increasingly complex and mission-critical solutions, while also building a robust foundation for future growth
CEO Perspective on Partnership and Transition
Chris Huntington, CEO of PrecisionX Group, expressed appreciation for CORE’s role in the company’s development, noting that the firm’s investment, strategic guidance, and operational support were instrumental in transforming PrecisionX into a leading provider of precision-engineered components, while also highlighting the collaborative nature of the partnership and the shared commitment to building a differentiated business
Huntington also expressed optimism about the company’s future under Windjammer Capital, emphasizing the opportunities for continued growth and the potential to further strengthen its position as a scaled provider of critical-use components across multiple industries
Transition to New Ownership with Windjammer
The acquisition of PrecisionX by Windjammer Capital represents the beginning of a new phase for the company, with the new owner expected to build on the foundation established by CORE, leveraging its experience in industrial and manufacturing investments to support further growth, operational improvements, and strategic initiatives, including potential acquisitions and market expansion
Windjammer’s focus on partnering with management teams and investing in companies with strong market positions and growth potential aligns well with PrecisionX’s capabilities and strategic direction, suggesting continuity in the company’s growth strategy
Role of Financial and Legal Advisors
The transaction was supported by leading financial and legal advisors, with Baird and Houlihan Lokey serving as financial advisors, while Kirkland & Ellis acted as legal advisor, ensuring a structured and efficient sale process that maximized value for stakeholders and facilitated a smooth transition of ownership
CORE’s Broader Investment Platform
CORE Industrial Partners operates as an industrials-focused private equity firm with more than $1.58 billion in capital commitments across four funds, investing in North American manufacturing, industrial technology, and industrial services businesses, with offices in Chicago, Austin, and Cleveland, and a team composed of experienced executives and investment professionals with a track record of building market-leading companies
The firm’s approach combines capital investment with operational expertise, enabling it to partner with management teams to drive growth, improve performance, and create long-term value, as demonstrated by its investment in PrecisionX
PrecisionX’s Market Reach and End Markets
PrecisionX serves a broad range of growth-oriented end markets beyond its core aerospace, defense, and medical sectors, including electric vehicles, mining, semiconductors, and other industrial applications, providing diversification and exposure to long-term growth trends in advanced manufacturing and technology-driven industries
The company’s ability to adapt its capabilities to different applications and industries enhances its resilience and positions it to capitalize on emerging opportunities across multiple sectors
Outlook for Continued Growth and Innovation
As PrecisionX enters its next chapter under Windjammer Capital, the company is expected to continue building on its strong foundation, focusing on expanding its capabilities, enhancing operational efficiency, and pursuing strategic growth opportunities, while maintaining its commitment to quality, precision, and reliability
The combination of a proven management team, advanced manufacturing expertise, and support from an experienced private equity partner positions PrecisionX to remain a key player in the precision components market, delivering mission-critical solutions to customers in some of the most demanding and rapidly evolving industries worldwide
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