A portfolio company of the private equity firm Core Industrial Partners called Re3DTech + GoProto (Re3DTech) has acquired Phoenix Proto Technologies, a contract manufacturer specializing in rapid tooling and injection molding.
Founded in 2008 and based in a 25,000-square-foot facility in Centerville, Mich., the acquired company offers production-quality aluminum tooling, CNC machining, injection molding and 3D printing for the medical, aerospace, defense, consumer and industrial markets.
The legacy Re3DTech business, which served customer needs from prototype through production with a specialization in additive manufacturing, is evolving through mergers and acquisitions, according to John May, founder and managing partner of Core.
In an email, May said Re3DTech's recent M&A activity, including Stanfordville Machine & Manufacturing in January and Phoenix Proto Technologies in February, demonstrates its focus on expanding in-house manufacturing technologies via acquisition.
"Specifically, Stanfordville enhances Re3DTech's CNC machining capabilities and Phoenix Proto augments the platform's tooling and injection molding capabilities, for prototype through production applications," May said.
Phoenix Proto has unique in-house capabilities and excellent turnaround times, according to Rock Lambert, operating partner at Core and chairman of Re3DTech.
"The company's injection molding expertise complements our additive manufacturing and CNC machining capabilities at Re3DTech, expanding our ability to offer prototyping as well as production volumes across technologies. We are excited to continue to broaden our service offering and cover more needs of our valued customers," Lambert said in a news release.
The Phoenix Proto Facebook page says prices for rapid aluminum tooling without design limits start at $900 and can provide up to 1 million components. The website says customers can get a quote in 24 hours and parts within days.
Phoenix Proto officials have put together a team with deep technical expertise and engineering solutions, according to founder Bob Lammon.
"Our family, along with a great employee base, have built a differentiated business over the last 15 years, and we believe Re3DTech is a perfect fit in terms of both culture and long-term strategy. We're proud and excited to have Core as a partner as we enter a new chapter of growth for Phoenix Proto," Lammon said in the release.
Terms of the deal were not disclosed.
Company officials also wouldn't disclose the number employees that work at Phoenix Proto, but May said everyone will be retained.
"The seller and his family will continue to be involved in leading the business," May added.
Core Industrial Partners says it has made $700 million of capital investments in North America's lower middle-market manufacturing, industrial technology, and industrial services businesses.