CORE Industrial Partners Portfolio Company Cadrex Manufacturing Solutions Acquires EPMP

CADREX | October 07, 2022 | Read time : 02:35 min

CORE Industrial Partner News
CORE Industrial Partners (“CORE”), a manufacturing, industrial technology, and industrial services-focused private equity firm, announced today the acquisition of E.P.M.P., Ltd. (“EPMP” or the “Company”), a precision sheet metal fabrication services provider, by CORE portfolio company Cadrex Manufacturing Solutions (“Cadrex”).

The Cadrex platform was formed in 2021 and includes ten business units with approximately 1.5 million square feet of manufacturing space and more than 2,000 employees across ten states as well as Mexico.

Founded in 1984, EPMP provides high-volume sheet metal punching, forming, welding and assembly capabilities utilizing a variety of different metals, including aluminum, copper and brass, as well as carbon, galvanized and stainless steel. The Company serves a nationwide customer base in the renewable energy, HVAC, food & beverage, and industrials end markets, among others, through an equipment fleet that includes press brakes, turret punches, fiber lasers, combination laser & punch machines and automated fabrication cells. Headquartered outside San Antonio in Seguin, Texas, EPMP operates an ISO 9001-certified facility with over 50,000 square feet of manufacturing space.

“EPMP’s significant historical investments in automation-driving material handling systems and robotics augment Cadrex’s high-volume sheet metal fabrication capabilities and make EPMP a highly strategic fit with the platform.”

-Matthew Puglisi, Partner at CORE.

Clint Plant, President of EPMP, said, For almost 40 years, EPMP has been committed to manufacturing and service excellence, demonstrating that commitment throughout all aspects of our organization. We recognize and appreciate this same customer-centric orientation at Cadrex and we’re looking forward to collaborating with Cadrex and CORE to continue our strong momentum.

CORE Industrial Partners is a private equity firm with $700 million of capital commitments investing in North American lower middle-market manufacturing, industrial technology, and industrial services businesses. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience, and a demonstrated track record of building market-leading businesses. Through our capital, insight, and operational expertise, CORE partners with management teams and strives to build best-in-class companies.

Cadrex is a leading provider of complex production parts, assemblies, and weldments for a variety of end markets, including information communication technology, aerospace & defense, energy transmission & distribution, food production & agriculture, medical, material handling and electronic gaming & kiosk. With locations in nine states and Mexico, Cadrex offers comprehensive in-house manufacturing capabilities, including laser cutting, sheet metal fabrication, injection molding, electromechanical assembly, CNC punching, CNC machining, robotic welding, stamping, fastener insertion, and tool and die manufacturing, to effectively serve customers with lights-out manufacturing capabilities from low- through high-volume production.

EPMP is a precision sheet metal fabrication services provider for a variety of end markets, including renewable energy, HVAC, food & beverage, and industrials. The Company offers high-volume sheet metal punching, forming, welding and assembly capabilities from an ISO 9001-certified facility outside San Antonio in Seguin, Texas.


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Other News

Everspin Signs Contract to Provide MRAM IP, Design and Manufacturing Services for Strategic Radiation Hardened FPGA Technology.

Everspin | October 20, 2022

Everspin Technologies, Inc. (NASDAQ:MRAM), the world’s leading developer and manufacturer of Magnetoresistive Random Access Memory (MRAM) persistent memory solutions, has signed a contract to provide MRAM technology, design, and back end of line manufacturing services with QuickLogic Corporation (NASDAQ:QUIK). The initial award is potentially valued at $2.8M, with subsequent options bringing the total to approximately $8.7M. This is part of an award to develop and demonstrate Strategic Radiation Hardened (SRH), high reliability Field Programmable Gate Array (FPGA) technology to support identified and future Department of Defense (DoD) strategic and space system requirements. This project is sponsored by DoD’s Trusted and Assured Microelectronics (T&AM) Program. Everspin MRAM IP and technology have been utilized for over 10 years in strategic radiation hardened and space applications. Everspin will extend its traditional market of discrete MRAM designs by collaborating with QuickLogic and integrating MRAM directly into the FPGA product. Spin-transfer Torque MRAM technology is an ideal candidate for radiation hard FPGA devices due to its persistence and inherent radiation immunity, said Sanjeev Aggarwal, President & CEO of Everspin. We are excited to work with the other partners on this program to develop reconfigurable, FPGA technology for use in harsh environments. “QuickLogic is pleased to collaborate with Everspin, Everspin’s demonstrated heritage in providing robust MRAM technology and products makes them an ideal company to partner with for such a critical project.” -Brian Faith, President & CEO of QuickLogic. About Everspin Technologies Everspin Technologies, Inc: is the world’s leading provider of Magnetoresistive RAM (MRAM). Everspin MRAM delivers the industry’s most robust, highest performance non-volatile memory for Industrial IoT, Data Center, Automotive, and other mission-critical applications where data persistence is paramount. Headquartered in Chandler, Arizona, Everspin provides commercially available MRAM solutions to a large and diverse customer base.

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3DX Industries Provides Production Update

3DX Industries | September 28, 2022

3DX Industries, Inc. (DDDX) (the “Company” or “3DX”), a state of the art advanced manufacturer specializing in additive 3D Metal Printing and advanced subtractive manufacturing technologies, provides an update to shareholders on select projects. Assemblies for the Medical Device Industry 3DX Industries manufactured an assembly consisting of 6061 aluminum (aircraft grade) for our client Phillips Medical. Phillips Medical is a subsidiary of Koninklijke Philips N.V., commonly shortened to Philips, which is a Dutch multinational billion-dollar corporation headquartered in Amsterdam and trading on the New York Stock Exchange. According to The North American Industry Classification System (NAICS), the medical device industry in the USA alone is $43 billion with a projected 1.5% annual growth. Parts for the Construction Industry 3DX Industries crafted bridge erection parts for Marcon Construction. These parts, machined out of 1018 steel, are used when constructing bridges to align the beams. Marcon, a Canadian company, supports and services large commercial clients across the globe. The parts manufactured by 3DX were approximately .5 x 8 x 10 inches and are critical components to bridge infrastructure. 3DX looks forward to continuing to support companies in this industry, providing manufacturing services from basic building maintenance parts to major construction projects, positioning 3DX into this multi billion-dollar industry. Heavy Duty Turnbuckles for the Marine Industry 3DX Industries continues providing solutions for the marine industry including the production of turnbuckles to be used on large vessels. These vessels may include military ships, cruise ships, commercial shipping container vessels, yachts and large barges. The turnbuckles currently produced by 3DX Industries, Inc were made from 8640 Tool Steel and measure 3 feet by 5 inches in diameter. The large vessel industry is projected to grow from USD $170.75 billion in 2021 to USD $188.57 billion in 2028 at a CAGR of 1.43% in forecast period. Nylon Sheaves for the Oil & Gas Sector 3DX Industries is manufacturing nylon sheaves for one of its customers in the Oil & Gas sector. These sheaves are used in oil extraction from ground reservoirs. As part of the pumping mechanism this part is a critical component in the process. 3DX has manufactured both additive and subtractive parts for this industry which has a reported market size measured by revenue, of $812.0 billion in 2022. “The purpose of this update is to provide our shareholders with a better understanding of our capabilities and the range of industries we are actively involved with. We continue to work with major corporations to deliver precision high quality parts and assemblies in a timely manner. Our goal is to continue to stay on top of leading manufacturing technologies to deliver Made in the USA precision manufactured components to our customers.” -Roger Janssen, President and CEO, 3DX Industries. About the3DX Industries: 3DX Industries, Inc. (DDDX) is an OTCM traded Advanced Manufacturing company capable of producing a wide range of products using additive and subtractive manufacturing processes. Our growth strategy includes utilizing cutting edge technology to enhance manufacturing techniques combined with consolidating the manufacturing sector through targeted acquisitions aimed at increasing revenues and building a strong asset base under the company.

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Scott Electric Selects Infor CloudSuite Distribution to Help Boost Operational Efficiency and Customer Service

Infor | October 13, 2022

Infor®, the industry cloud company, today announced that Scott Electric Co., one of the largest independent electrical distributors in the U.S., has selected Infor CloudSuite Distribution to help boost operational efficiency and customer service, while improving the company's ability to attract and retain new employees. Scott Electric is a full-service wholesale electrical distributor, providing customers with all of their electrical supply needs. The company also provides additional services such as lighting design, panel board manufacturing, specialty wire cutting, and generator sales and service to customers throughout the U.S. To date, the company has been conducting business primarily through manual, paper-based processes, which slows its ability to deliver products and services to customers, according to Bob Coletta, assistant general manager at Scott Electric. With Infor CloudSuite Distribution, Scott Electric will move to a next-generation, cloud-based ERP (enterprise resource planning) system that will automate everything from pricing and inventory visibility to product/service delivery and invoicing. "We anticipate that the Infor system will make all aspects of our business more efficient, We'll have current information about an account, an order, product availability and pricing, right at our fingertips, which will help us provide quick and accurate information that our customers need to be more efficient and successful, We believe this system will help us adapt with changes in an industry that is constantly advancing and progressing, We'll be more agile and competitive and have the ability to provide value-added services quickly." -Bob Coletta, assistant general manager at Scott Electric. Coletta noted that Infor CloudSuite Distribution's ease of configurability will help employees use the system to more quickly and easily get their jobs done. Further, the system's capabilities — including its intuitive user interface, automated workflows and document management — will help Scott Electric attract and retain new employees who want to use advanced, modern technology so they can focus on value-added work. For example, Scott Electric will use Infor Service Management (ISM) to automate the process of scheduling service appointments, provide inventory visibility through mobile devices and enable the company to deliver timely and accurate invoicing. Moving away from a legacy ERP system will help the company capture more market share and continue to grow its business. The company currently serves customers through 16 locations in five states and expects to further expand its business, Coletta said. "If we choose to acquire new businesses, we couldn't do it with the old system. Having a modern ERP system will help us be more comfortable acquiring new businesses and integrating them into our overall operation." Going forward, the company also is looking at how Infor Artificial Intelligence (AI) technology could help augment its business. According to Coletta, such technology could be used to help more quickly and efficiently train new employees, who don't have years of experience in the electrical distribution industry to draw from. About Scott Electric Co: Founded in Greensburg, Penn., in 1946, Scott Electric is a leading, independent wholesale distributor of electrical products and services, including electrical conduit, wire, fittings, devices and lighting. The company serves the electrical, mechanical, general contractor, industrial, government agency, municipality, retail hardware, and building supply markets. Scott Electric maintains 16 locations in five states. About Infor: Infor is a global leader in business cloud software specialized by industry. We develop complete solutions for our focus industries. Infor's mission-critical enterprise applications and services are designed to deliver sustainable operational advantages with security and faster time to value. Over 60,000 organizations in more than 175 countries rely on Infor's 17,000 employees to help achieve their business goals. As a Koch company, our financial strength, ownership structure, and long-term view empower us to foster enduring, mutually beneficial relationships with our customers.

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Intrepid Automation introduces “Valkyrie” systems for scalable production using patented modular DLP technology

Intrepid | September 19, 2022

Intrepid Automation, a manufacturing technology company that develops custom, end-to-end solutions for large scale manufacturing customers using 3D print technology and materials, announced this week the launch of the “Valkyrie” system: a large-format, industrial-grade, modular tool for manufacturing customers to quickly scale production of printed patterns, molds, and parts. The Valkyrie system, with a build area of 660mm by 760mm by 560mm, has customer-validated print speeds of up to 44mm/hour using IntrepidCast LF resins, allowing customers to produce end-use parts up to 10x faster than legacy SLA processes. “Most 3D print manufacturing processes today are slow, expensive, deliver inconsistent accuracy, and are difficult to scale, Our systems solve for all of these challenges.” -Ben Wynne, CEO of Intrepid Automation. Valkyrie systems run on Intrepid’s patented mDLP technology, a process that uses an array of highly-calibrated digital light sources to project a single image at once, rather than tracing image outlines as is with legacy SLA processes. As part of close partnerships with multiple industrial-scale resin suppliers, the company has been able to develop and validate custom materials for applications in both investment casting patterns (IntrepidCast LF resin family) and rigid part/mold production (Intrepid ThermoRigid resin family) on Valkyrie systems. About Intrepid: Intrepid Automation creates custom, industrial-scale additive manufacturing systems for high volume production: 3D printers, software, materials, automation, and quality control. Our end-to-end systems integrate high-speed, patented modular DLP technology with materials optimized for additive manufacturing to produce end-use parts with less waste and a smaller carbon footprint.

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Even the most complex models can now be produced with high quality and precision. With PolyJet™ 3D printing technology, a remarkably efficient way of 3D rapid prototyping was created. Here at Proto3000, we offer Polyjet Rapid Prototyping Services for the creation of 3D models, prototypes, design work, and anything else that requires our prototyping services. Stratasys continues to push the technology envelope in order to bring PolyJet-based high-resolution 3-dimensional printing services into the reach of an ever-broader range of companies and professionals.