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Core Industrial Partners portfolio co Incodema acquires Mark Two Engineering

Chicago-based private equity firm CORE Industrial Partners’ (CORE) portfolio company Incodema Holdings (Incodema) has acquired Mark Two Engineering, a medical device contract manufacturing provider.

 Mark Two is the third acquisition to the Incodema platform to close in the past month, joining recently acquired Dahlquist Machine and Majestic Metals to form a leading nationwide precision manufacturing services provider aligned with Industry 4.0 trends for on-demand production across sheet metal fabrication, CNC machining and photochemical etching. The combined entity offers a broad assortment of manufacturing and finishing capabilities for customers in a variety of end markets, including medical, electronics, aerospace and defence, and industrial, among others.

Founded in 1996 and headquartered in Miami Lakes, Florida, Mark Two specialises in complex high-precision machining and manufacturing for established medical device OEMs. The Company provides components, surgical equipment, and implant systems across multiple product platforms through a full suite of modern CNC technologies and equipment, including swiss screw machines, lathes, multi-axis mills and grinders. Mark Two is ISO 9001 certified, ISO 13485 certified and FDA registered.
TJ Chung, Senior Partner of CORE, says: “Mark Two is consistently viewed by customers as a strategic manufacturing partner driven by its strong technical capabilities, consistent product quality and collaborative approach to customer service. Mark Two’s CNC machining capabilities are an ideal fit with the sheet metal capabilities of Incodema, and this transaction provides important geographic and end market expansion.”
Carey Chen, CEO of Incodema Holdings, says: “Mark Two Engineering brings naturally complementary capabilities to us including CNC milling, CNC turning, and CNC grinding. We are also pleased that Mark Two Engineering’s continuous dedication to quality has led to a solid foothold in the medical device and components arena, a strategic end market that we are working to expand.”
Cheryl Box, CEO of Mark Two, says: “On behalf of myself and all Mark Two employees, we are very pleased to join the Incodema team. With the financial, strategic, and operational support of Incodema and CORE, Mark Two will have the resources to drive very exciting growth initiatives that will position us to even more effectively serve our valued customers.”
Winston & Strawn LLP provided legal representation to CORE and Incodema in the transaction.  K-2 Ventures acted as exclusive financial advisor to Mark Two Engineering in connection with this transaction.

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