Published in Manufacturing

Chicago PE firm acquires 3 GR manufacturers amid Industry 4.0 push

BY Thursday, October 28, 2021 12:54pm

GRAND RAPIDS — Chicago-based private equity firm CORE Industrial Partners LLC has acquired three Grand Rapids businesses to form a new additive manufacturing platform.

The trio of companies includes 3DXTECH LLC and Triton 3D LLC, both of which provide 3D printing filaments and filament services. CORE also acquired Gearbox 3D LLC, which offers its clients industrial grade, open-source 3D printing machines. Gearbox 3D also offers in-house 3D printer assembly, testing and maintenance.

The three companies already share one 68,000-square-foot facility at 904 36th St. in Grand Rapids.

“CORE is finding attractive tailwinds in the additive manufacturing sector due to re-shoring of supply chains, mass customization on demand and digitization of product development,” John May, founder and managing partner of CORE Industrial Partners, told MiBiz via email.

“Today’s consumers are looking for a more dynamic, data-driven experience based on their specific preferences with higher value add and an increased focus on (environmental, social and governance). R&D spend continues to increase and the next industrial revolution is accelerating the pace of manufacturing innovation. CORE remains committed to being at the spear of Industry 4.0.”

Each of the Grand Rapids companies will continue to operate under their own name and brand while joining together to create the new platform.

CORE Industrial Partners focuses exclusively on lower middle-market manufacturing, industrial technology and industrial service companies, which was underscored by the latest acquisition.

“On behalf of my partner Gary Foote, the employees at 3DXTECH, Triton and Gearbox, and me, we’re excited to begin this new chapter in partnership with CORE,” Matt Howlett, president and chief innovation officer for 3DXTECH, said in a statement.

“We have demonstrated rapid growth since the company’s founding by successfully pairing our materials expertise with our disruptive 3D printing equipment technology,” Foote added. “With CORE’s expertise and resources in the additive manufacturing industry, we’ll be able to further accelerate our growth.”

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