Private equity firm Core Industrial Partners (Chicago, IL) has acquired additive manufacturing services provider Midwest Composite Technologies (MCT; Hartland, WI), establishing an Industry 4.0 platform that it plans to build upon.
Founded in 1984, MCT offers 3D prototyping and low-volume production services using its 40-plus additive manufacturing machines, including in-house selective laser sintering (SLS), direct-metal laser sintering (DMLS), polyjet printing (PJET), and fused deposition modeling (FDM) technologies. In addition to 3D printing and processing, the company also offers CNC machining, injection molding, and industrial design capabilities to customers in the medical, aerospace, research and development, consumer, and general industrial end markets. The company operates out of a 120,000-sq-ft. facility.
MCT's in-house additive manufacturing technologies facilitates faster turnaround times, including same-day processing and shipping, says TJ Chung, senior partner at Core, who will become chairman of the MCT Board of Directors.
Monroe Capital provided financing for the acquisition, while Norton Rose Fulbright US LLP provided legal representation to Core in the transaction. Financial terms of the transaction were not disclosed.