June 1, 2022: CORE Industrial, Guardian Capital Fuel Manufacturing Investments
Plus, Astorg targets medical communications with latest acquisition
Read the top headlines from Wednesday, June 1, 2022 below:
CORE Industrial’s CGI Automated Manufacturing Announces Acquisition
CGI Automated Manufacturing has completed its acquisition of Elite Manufacturing Technologies, expanding the manufacturing business that is part of the portfolio of private equity firm CORE Industrial Partners. Elite specializes in cabinet, console, and assemblies manufacturing for the electronic gaming industry, while CGI focuses on complex sheet metal and machined production parts for a variety of industries. In a statement, CORE partner Matthew Puglisi said, “The acquisition of Elite aligns with the key tenets of our investment thesis focused on providing differentiated and automated precision manufacturing solutions to industry-leading customers in fast-growing end markets.”
Related content: How Manufacturing Has Adapted to the Pandemic
Guardian Capital Acquires Precision Roll Solutions
Private equity firm Guardian Capital announced in a press release its investment in Precision Roll Solutions (PRS), a provider of process components used in a variety of manufacturing environments across consumer products, life sciences and other industries. The PRS leadership team will retain a stake in the business, the announcement said. Guardian’s managing partner Scott Evans noted in a statement that the firm’s partnership with PRS will help “drive accelerated growth” for the company’s next phase. Financial terms of the transaction were not disclosed, nor were exact details of Guardian’s growth plans for PRS.
Guardian acquired PRS from May River Capital, which announced in a separate press release that its ownership of the company since 2016 led to organic growth through strategic M&A as well as organic growth efforts.
Astorg to Acquire Medical Communications Platform OPEN Health
European private equity firm Astorg announced it has reached an agreement to acquire OPEN Health from Amulet Capital Partners, according to a press release. OPEN Health, based in London, offers a platform facilitating scientific communications and market access services to the pharmaceutical industry. In a statement, the company’s CEO, Rob Barker, said the business is “excited to build on the momentum” of its growth by partnering with Astorg, which will invest in business development to boost its offerings and support customers.