Chicago-based private equity firm Core Industrial Partners has acquired Tenere Inc., a Dresser, Wis.-based manufacturer with injection molding operations.
Tenere is the seventh add-on acquisition to Core's CGI Manufacturing Holdings platform, which launched in August 2021.
The combined CGI platform now includes some 1.4 million square feet of space and more than 2,000 employees across 14 facilities in eight states and Mexico.
Founded in 1993, Tenere helps build technology infrastructure, in part by manufacturing fiber-to-the-home enclosures, panels, and splice boxes as well as fiber-to-the-data-center solutions.
The ISO 9001-certified company's manufacturing capabilities and services include prototyping, tooling, sheet metal fabrication and stamping, injection molding, assembly, integration and testing.
The acquired company operates four facilities totaling almost 600,000 square feet in Dresser and Osceola, Wis.; Westminster Colo., which is a dedicated injection molding facility; and Monterrey, Mexico, where a new facility was built.
The Tenere acquisition helps expand the CGI platform's geographic reach while strengthening its presence in high-growth, technology-focused end markets, according to Matthew Puglisi, a Core partner.
"Tenere's unique combination of dynamic, early-stage collaboration capabilities and an expansive manufacturing footprint allows the company to support customer innovation cycles and quickly deliver flexible solutions at scale, in alignment with the broader strategic direction of the platform," Puglisi said in a news release.
CGI CEO Carey Chen said platform officials now will leverage capabilities and look to differentiate their solutions.
"Tenere's extensive, automation-driven soft and hard tool fabrication fleet expands CGI's sheet metal capacity, while the company's injection molding offering brings a synergistic new manufacturing capability to the platform," Chen said in the release.
Tenere CEO Brian Steel said he is pleased to partner with Core and CGI.
"The synergies between Tenere and CGI, along with our shared passion for innovation and customer success, will create added value for our combined customer base and enhance Tenere's ability to deliver speed, flexibility, scalability, and technical expertise," Steel said in the release.