Precision X Group (Precision X), a portfolio company of CORE Industrial Partners (CORE), a manufacturing, industrial technology, and industrial services-focused private equity firm, has acquired National Manufacturing Co, Inc. (National).
FOCUS Investment Banking, our partner in the USA, advised Precision X on this transaction.
CORE previously acquired GEM Manufacturing, a manufacturer of precision deep-drawn metal components, in February 2023, and Coining MFG, a specialist in progressive metal stamping, wire EDM and Swiss screw machining of high-performance nickel alloys, in June 2023, to form Precision X.
Founded in 1944, National offers precision deep and shallow-drawn enclosures and metal components, high-speed CNC milling and turning, and wire EDM and sinker capabilities as well as numerous value-added finishing operations, including plating, anodizing, painting, powder coating, welding, and riveting. With in-house tooling design and fabrication capabilities and an expansive library of tools, the Company specializes in working with custom complex shapes, sharp corners, and exotic and difficult-to-draw materials, including Inconel, Hastelloy, Kovar, Monel, titanium, nickel, tantalum, ferrous & non-ferrous. Further, National's ability to collaborate with customer engineering teams during the design phase can help expedite the process of bringing new products to market and ensure leading product quality in terms of both performance and aesthetics.
Serving a variety of end markets, including aerospace & defense, electronics and industrials, National offers especially deep experience in the medical end market across various implantable devices, including pacemakers, neuromodulation devices, defibrillators, batteries and capacitors. National is headquartered in Piscataway, New Jersey, and operates in a 90,000 square foot facility with more than 150 machines.
We believe National is well-positioned at the forefront of the deep and shallow drawn specialty stamping space following decades of providing differentiated technical capabilities and outstanding customer service - commented Matthew Puglisi, Partner at CORE. - We will continue to work to expand our presence in high-growth, technically demanding end markets, including medical and aerospace & defense, through execution of both organic and inorganic growth initiatives.
It was a privilege to work with CORE once again in building what we believe to be a world-class precision manufacturing investment platform - added Jorge Maceyras, FOCUS Managing Director. We look forward to seeing Precision X, and its committed and talented management teams, thrive in partnership with the highly experienced investors and operators at CORE.