[August 9, 2021] InterOcean Advisors is pleased to announce the successful sale of CGI Automated Manufacturing, Inc. (“CGI”) to CORE Industrial Partners (“CORE”), a Chicago-based private equity firm with more than $700 million of capital commitments investing in North American lower middle-market manufacturing, industrial technology and services businesses.
“InterOcean Advisors was an outstanding partner who helped drive value throughout the sale process. Their industry expertise and buyer knowledge helped create a great outcome for the shareholders. We truly appreciate all the senior level guidance and dedicated effort they provided through the entire process.”
– Janice Nieman, President of CGI Automated Manufacturing
Founded in 1976 and based in Romeoville, Illinois, CGI Automated Manufacturing, Inc. is a highly automated precision sheet metal fabricator and manufacturer of complex assemblies that offers comprehensive in-house manufacturing capabilities, including laser cutting, CNC punching, forming, CNC machining, robotic welding, fastener insertion, and assembly.
The Company specializes in high precision and short lead times for mid-to-high volume complex sheet metal production components, assemblies and weldments, serving diversified end markets, including medical, food, lighting, and industrials, with notable expertise in the electrical transmission and distribution sector.
“CGI has a history of investing in state-of-the-art equipment to achieve highly efficient production of precision components and assemblies,” stated Nick Newlin, a Managing Director at InterOcean Advisors. “With its operational excellence and talented management team, I am confident CGI will serve as an exceptional platform for future acquisitions. I am excited for the potential growth that the partnership with CORE can provide for CGI.”
InterOcean Advisors LLC is a leading specialty investment bank that provides mergers and acquisitions and capital raising advisory services to manufacturing and business services companies in the industrial sector. With professionals in Chicago, Atlanta, and Denver and through membership in the Terra Alliance, InterOcean offers both national and international coverage of the middle market. For more information, please visit www.ioadvisors.com.
About CGI Automated Manufacturing:
Founded in 1976, CGI Automated Manufacturing (“CGI”) is a leading provider of complex sheet metal production parts, assemblies and weldments for a variety of end markets, including electrical transmission and distribution, medical, food, lighting and industrials. Based outside Chicago, CGI offers numerous in-house manufacturing capabilities to effectively serve customers with lights out manufacturing capabilities for mid- to high-volume production. For more information, please visit www.cgiautomatedmanufacturing.com.
About CORE Industrial Partners:
CORE Industrial Partners is a Chicago-based private equity firm with more than $700 million of capital commitments investing in North American lower middle-market manufacturing, industrial technology and services businesses. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience, and a proven 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 with lasting results. For more information, visit www.coreipfund.com.