CORE Industrial Partners portfolio company Incodema acquires Majestic Metals

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CHICAGO–(COMMERCIAL THREAD) – CORE Industrial Partners (“CORE”), a Chicago-based private equity firm, today announced the acquisition of Majestic Metals, LLC (“Majestic Metals” or the “Company”), a supplier of precision plate fabrication services, by the holding company CORE Incodema Holdings LLC (“Incodema”).

Majestic Metals will partner with recently acquired Incodema, Newcut and Dahlquist Machine to form a leading national precision manufacturing service provider aligned with Industry 4.0 trends for on-demand production in sheet metal fabrication, the CNC machining and photochemical engraving. The combined entity provides a broad assortment of on-demand manufacturing and finishing capabilities for customers in a variety of end markets, including medical, electronics, aerospace and defense, and industrial, between others.

Founded in 1979, Majestic Metals is a well-established precision sheet metal manufacturer with over four decades of experience. The company’s comprehensive in-house manufacturing solutions include design and engineering support, laser cutting, punching, forming, welding, assembly and finishing, among others. Majestic Metal’s end-to-end service offering and heavy investments in automation and light-off manufacturing facilitate fast turnaround times for complex, low to mid-volume precision sheet metal components. The Company serves diverse end markets with expertise in analytical instrumentation, medicine, aerospace and defense, electronics and industrial sectors. Headquartered in Denver, Colorado, the company operates a state-of-the-art facility and holds certifications and compliance designations including ISO 9001 and ITAR.

Matthew Puglisi, CORE Partner, said: “Majestic Metals has built a solid reputation as a highly experienced manufacturer with the ability to serve as a thinking and design partner, using in-depth industry knowledge to support both product development and the production needs of its customers. We are delighted to add Majestic Metals to Incodema and will continue to pursue very complementary acquisitions to develop our national platform.

Carey Chen, CEO of Incodema, said, “Majestic Metals is a natural fit for us as they have similar precision metal fabrication capabilities including cutting, forming and welding, but on a larger scale. Additionally, Majestic Metals brings additional capabilities to the group, including advanced automation, powder coating and screen printing. I look forward to working closely with the Roberts brothers and the team at Majestic Metals in the future. ”

Chip Roberts, President of Majestic Metals, said, “On behalf of my brothers, Dave and Doug, and the entire team at Majestic Metals, we are delighted to partner with CORE and Incodema. For over 40 years, Majestic Metals has established its position as a customer-focused supplier of premium sheet metal products and engineering services. We believe that the partnership with Incodema and the support of CORE will provide the combined platform with considerable scale and resources to enhance our product offering to our existing customers, as well as attract potential customers.

Winston & Strawn LLP provided legal representation to CORE and Incodema in the transaction. Class VI Partners acted as exclusive financial advisor to Majestic Metals in connection with this transaction.

ABOUT THE MAIN INDUSTRIAL PARTNERS:

CORE Industrial Partners is a Chicago-based private equity firm that invests in North American lower middle market manufacturing and industrial technology companies. The CORE team is made up of highly experienced former CEOs and investment professionals with common beliefs, in-depth experience and a proven track record in building market-leading companies. With our capital, knowledge and operational expertise, CORE partners with leadership teams and strives to create the best companies with lasting results. For more information, visit www.coreipfund.com.

ABOUT MAJESTY METALS:

Majestic Metals, LLC (“Majestic Metals”) is a provider of precision sheet metal fabrication services, providing design and manufacturing solutions with a focus on low to medium volume production. The Company serves numerous end markets, including analytical instruments, medical, aerospace and defense, electronics and industrial. Based in Denver, Colorado, Majestic Metals holds certifications and compliance designations including ISO 9001 and ITAR. For more information, visit www.majesticmetals.com.

ABOUT INCODEMA HOLDINGS LLC:

Incodema Holdings LLC (“Incodema”) is a leading supplier of sheet metal cutting and forming solutions including laser, micro waterjet, specialty stamping, multiblade, welding and photochemical engraving in numerous end markets including electronics, aerospace and defense, medical and industrial, among others. Based in Ithaca, New York, with an additional state-of-the-art facility in Newark, New York, Incodema holds certifications and compliance designations including AS9100 Rev. D, ISO 9001 and ITAR. To learn more, visit www.incodema.com.

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