CORE Industrial Partners (CORE), a manufacturing, industrial technology, and industrial services-focused private equity firm, recently closed $887 million in capital commitments between its $685 million flagship fund, CORE Industrial Partners Fund III, L.P. (Fund III) and $202 million in its new offering, CORE Industrial Services Fund I, L.P. (Services Fund I) with both funds exceeding their targets.
As a reminder, the equity firm aimed to create a large global independent company that will serve the AM industry. Following the acquisition of FATHOM in 2019, it acquired RE3DTECH and custom manufacturing services provider GoProto in 2022.
The present announcement is definitely great news for AM companies that will be looking for funds this year.
With Fund III, it will continue its existing flagship strategy of acquiring manufacturing and industrial technology businesses. Furthermore, CORE’s newest fund strategy, Industrial Services Fund I, brings a more concentrated focus to the highly fragmented industrial services sector that CORE believes is experiencing strong growth due to reshoring and proliferation of advanced technologies with the adoption of Industry 4.0 applications in North America.
“We are extremely proud and humbled by the strong interest and support from both existing and new investors and are grateful for the trust they have shown in us,” said John May, Managing Partner of CORE. “The unwavering support for both fund strategies highlights our dedication to an industrial sector we believe is experiencing significant long-term tailwinds. We remain committed to taking advantage of these opportunities and working hard for our limited partners.”
Investors in the CORE funds represent a diverse group of institutions including endowments, foundations, insurance companies, public and corporate pensions, global asset managers, investment advisers and family offices across North America and Europe.
The question now is: who will be the lucky company to benefit from CORE’s funds?
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