CORE Industrial Partners portfolio company Fathom Digital Manufacturing has acquired TCS Industries, TCS Electronics and Precision Grinding & Manufacturing Corporation, adding precision manufacturing capacity in the aerospace and defense markets. No financial terms were disclosed. The acquisitions lift Fathom's nationwide footprint to 10 facilities and roughly 700 employees.
CORE, an industrials-focused private equity firm, said the deals advance Fathom's strategy to build a leading US precision manufacturing platform, as aerospace and defense companies look to strengthen domestic supply chains and boost production capacity. "The aerospace and defense industry is entering a period of significant investment in domestic manufacturing capacity, and suppliers that can combine technical expertise, quality and reliable execution will play an increasingly important role," said Matthew Puglisi, partner at CORE. He added that the deals "position Fathom to pursue larger opportunities across aerospace and defense while continuing to invest in the people, technology and manufacturing capabilities needed to support long-term growth."
TCS Industries and TCS Electronics have supported aerospace and defense customers for almost 35 years. Their work spans precision CNC machining, sheet metal fabrication, aluminum dip brazing, welding, electro-mechanical box builds, PCB assemblies and cable and wire harnesses. TCS operates two facilities with combined space of more than 200,000 square feet. PGM, also headquartered in Rochester, has close to six decades of precision manufacturing experience covering machining, grinding, lapping, honing, assembly and specialized finishing, serving customers from low- and mid-volume production through full-rate production.
Both TCS and PGM hold AS9100 certifications and ITAR registrations. Hartland, Wisconsin-headquartered Fathom offers more than 25 advanced manufacturing services, including additive manufacturing, CNC machining, injection molding, tooling and engineering support. Winston Taylor acted as legal adviser to CORE and Fathom.
Source: PE Hub · Summarized by HeadlinesBriefing