CoreDux, a portfolio company of Arcline Investment Management, has acquired Pyramid Precision Machine. Arcline acquired CoreDux in January 2022 from Silverfleet Capital.
Pyramid Precision specializes in low and high volume close-tolerance precision machining and manufacturing, as well as other services including prototyping, assembly, welding, and finishing. The company’s customers are active in the aerospace, gas and power, government and defense, medical, and semi-conductor sectors.
Pyramid Precision was founded in 1988 by Bob Taylor and is headquartered in San Diego.
“Pyramid is the supplier of choice for customers requiring industry-leading expertise in the creation of complex machined components and sub-assemblies. We look forward to the next chapter of growth alongside the CoreDux family of businesses,” said Walter Gieffels, the chief operations officer of Pyramid.
CoreDux is a vertically integrated manufacturer of ultra-high purity flexible flow control and conveyance components and systems used in the semiconductor manufacturing, space and aeronautics sectors. The company’s capabilities include design and engineering, customization, systems integration, and testing.
CoreDux specializes in cryogenic components used in industrial gas, space exploration, health tech, food tech and nuclear sectors to transport critically cold (-80 to -269 degrees) liquid gases.
Examples of the company’s products include components for rocket engines in space launchers and loading systems on launch pads; cryogenic transport lines for helium cooling in MRI scanners and helium cooling loops in nuclear fusion reactors; cryogenic piping for trucks in road transportation and liquid natural gas (LNG) bunkering projects; and cryogenic transfer lines for liquid nitrogen refrigeration units.
“We’d like to thank founder Bob Taylor for entrusting CoreDux to support Pyramid through its next phase of growth. The Pyramid team has built a top-notch reputation and expertise in working unique metals and materials into intricate components with unfailing quality, consistency, and reliability for the world’s most discerning customers,” said Jan Hennipman, the CEO of CoreDux. “Pyramid brings a fantastic team, an excellent US manufacturing footprint, and precision machining capability to the CoreDux family of businesses. This partnership progresses CoreDux’s mission to become the leading supplier of fluid control and artery systems and components to the world’s most advanced industries.”
Arcline makes control investments in companies with recurring revenue business models in the defense and aerospace; infrastructure services; industrial and medical technology; life sciences and specialty materials sectors. The firm’s targets will typically have from $10 million to $100 million of EBITDA and enterprise values up to $1 billion. The firm closed its third fund in March 2023 with total capital commitments of $4.5 billion. Arcline’s earlier fund closed in January 2021 with $2.75 billion of capital commitments.
Arcline was founded in September 2018 and has offices in San Francisco and New York City.
© 2023 Private Equity Professional | September 21, 2023
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- Source: https://peprofessional.com/blog/2023/09/20/arclines-coredux-acquires-pyramid-precision/
