Winston & Strawn provided legal representation to CORE in the transaction. Stifel Global Technology Group acted as exclusive financial advisor to Incodema and Newcut in connection with this transaction.
FREMONT, CA: Chicago-based private equity firm CORE Industrial Partners, announced the formation of a new platform called Incodema Holdings, and completed the acquisitions of Incodema, a precision sheet metal engineering solutions provider, and Newchem (Newcut), a leading photochemical etching manufacturer. The company specializes in micro, intricate parts and serves customers from prototype through high-volume production. Incodema Holdings specializes in micro, intricate parts and serves customers from prototype through high-volume production.
“Our investments in Incodema and Newcut underscore CORE’s continued desire to not only invest in advanced digital manufacturing firms that align with Industry 4.0 fundamentals, but also to do so in partnership with founders and family owners. We believe access to CORE’s network and resources will prove highly impactful in both augmenting the company’s existing operations and adding new capabilities and geographic reach,” said John May, Managing Partner of CORE.
Incodema was founded in 2001 and offers a broad array of internal sheet metal cutting and forming solutions, including laser, micro waterjet, speciality stamping, multi-slide and welding, among others, that allow Incodema to generate typical turnaround times of 6-8 days for complex, tight tolerance parts. The company’s capability to design and build all tooling in-house serves as a turn-key supplier to customers as prototypes transition to longer-run production.
“On behalf of employees at both Incodema and Newcut, we’re excited to begin this new chapter. For decades, Incodema and Newcut have successfully married industry-leading capabilities with a customer-centric orientation that allow us to devote attention to every one of our valued clients. Now, with CORE’s support, we’ll be able to expedite our exciting growth initiatives while preserving our outstanding customer service,” said Sean Whittaker, CEO and founder of Incodema and Newcut.
Newcut was founded in 1970 and is one of the nation’s oldest photochemical etching providers. With decades of experience etching dozens of different materials, including exotic materials such as Inconel 625, Newcut offers product solutions ranging from screens and filters to encoders, RIF / EMI shielding and signage, among other applications. Winston & Strawn LLP provided legal representation to CORE in the transaction. Stifel Global Technology Group acted as exclusive financial advisor to Incodema and Newcut in connection with this transaction.