A Waterbury manufacturing company, GEM Manufacturing, has acquired a New Jersey firm that produces precision machine products.
GEM Manufacturing, which was founded in 1950, works with aluminum, copper, brass, stainless and carbon steel, Inconel and Monel, among other metals, to produce components used in electric vehicles, mining, aerospace and defense, and industrial uses.
GEM is headquartered at 78 Brookside Road in Waterbury and has a facility in Vietnam.
On Thursday, GEM’s parent company, CORE Industrial Partners, announced that GEM had acquired Coining Manufacturing LLC and Precision Machine Products Inc., both based in Clifton, New Jersey.
CORE, a Chicago-based private equity firm, acquired GEM in February. It has $700 million of capital commitments in North American lower middle-market manufacturing, industrial technology and industrial services businesses.
Coining Manufacturing and Precision Machine Products, founded in 1990, produce complex precision components for the aerospace and defense, medical, electronics and semiconductor industries,
“From manufacturing capabilities and geographic location to customer bases and end market focus, Coining and PMP are highly complementary and strategic fits with GEM,” said Rock Lambert, operating partner at CORE. “We’re excited to augment both the depth and breadth of the platform’s value proposition in support of our valued customers.”
