Thu, 11/07/2019 - 15:06
Chicago-based private equity firm CORE Industrial Partners’ (CORE) portfolio company Prototek has acquired Cal-X, a provider of precision machining and sheet metal fabrication rapid prototyping services.
Financial terms of the transaction have not been 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, says: “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, says: “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, says: “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.
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