US-based private equity firm CORE Industrial Partners (CORE), through its portfolio company CGI Automated Manufacturing (CGI), has acquired Haven Manufacturing.
The transaction marks the fourth add-on acquisition for CGI, since it was launched by CORE in August last year.
Established in 1966, Haven is a contract manufacturer focused on engineered components for medical devices, medical equipment and related applications.
It offers a suite of manufacturing services, including design assistance, prototyping, EDM, waterjet, laser etching, blasting, grinding and passivation.
With wide CNC machining capabilities, the company supplies precision parts measuring less than one inch in length, up to 85 inches.
Haven operates two facilities spanning more than 60,000ft2 area.
Haven Manufacturing president Len Feddema said: “My partners and I believe in the fundamental element of teamwork, with pride and respect for our employees and customers.
“We believe the quality of the entire team and its involvement in problem-solving has been, and continues to be, the crucial component to our success.
“In collaboration with CGI and CORE, we’re excited to expand beyond Haven to even better serve our valued customers.”
CORE is a Chicago-based private equity firm with $700m of capital commitments investing lower middle-market manufacturing, industrial technology and services businesses.
CGI Automated Manufacturing is a provider of complex sheet metal and machined production parts, assemblies and weldments for several end markets.
With various in-house capabilities, the company serves customers with lights-out manufacturing capabilities for mid- to high-volume production.
The in-house capabilities include laser cutting, sheet metal fabrication, complex assembly, CNC punching, CNC machining, forming, robotic welding, stamping, fastener insertion, and tool and die manufacturing.
CORE senior partner and CGI chairman TJ Chung said: “Haven is strategically located to serve leading medical device and equipment manufacturers in Northeast Indiana and Southwest Michigan.
“The company’s deep experience in the medical end market fits extremely well with CGI’s focus on serving attractive, growing industries requiring tight tolerances for mission-critical applications.”
