Cadrex Acquires Advanced Laser Machining

October 21, 2021

CORE Industrial Partners (“CORE”), a Chicago-based private equity firm, announced today the acquisition of Advanced Laser Machining (“AL” or the “Company”), a full-service provider of metals-focused contract manufacturing solutions, by CORE portfolio company Cadrex (previously CGI Manufacturing Holdings).

Founded in 1996, AL combines broad metal fabrication capabilities with complex assembly and complementary value-added services to provide a single-source solution for a variety of end markets, including supercomputing, aerospace & defense, medical, transportation and industrials. From robotic welding to hydroforming, fiber optic laser cutting, punching, machining, electro-mechanical assembly and powder coating, AL can assist customers from early-stage prototyping and small batch runs through high-volume production. The Company has consistently been included on The FABRICATOR’s FAB 40 list as one of the largest metal fabricating operations in the country.

Headquartered in Chippewa Falls, Wisconsin, with a second location in Spooner, Wisconsin, AL operates four facilities covering more than 150,000 square feet and holds ISO 9001:2015 and AS9100 quality certifications as well as an American Welding Society certification.

Matthew Puglisi, Partner of CORE, said, “AL is a highly compelling fit with our recent investment in Cadrex (CGI), providing not just increased scale and capacity, but also complementary manufacturing capabilities and diversification across industry-leading customers and growing end markets. Importantly, AL’s significant investment in automation aligns with both Cadrex's (CGI) strategy and our Industry 4.0 thesis for the platform.”

Jon Spaeth, President of AL, said, “On behalf of myself, our co-Founders, John Walton and Rod Tegels, and the entire AL team, we’re excited to start this new journey. Over the last 25 years, AL has grown from a small fabrication shop to a ‘FAB 40’ contract manufacturing operation, and we believe this partnership will help facilitate the same type of transformational growth in the years to come.”

John Walton, Co-Founder of AL, said, “Our core values of drive, integrity, growth, respect and innovation have always been, and continue to be, critical to our success at AL, and we’re looking forward to working with the like-minded teams at Cadrex (CGI) and CORE to build upon this strong foundation.”

Winston & Strawn LLP provided legal representation to Cadrex (CGI) and CORE in the transaction.

About CORE Industrial Partners

CORE Industrial Partners is a private equity firm with $700 million of capital commitments investing in North American lower middle-market manufacturing, industrial technology, and industrial services businesses. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience, and a proven track record of building market-leading businesses. Through our capital, insight, and operational expertise, CORE partners with management teams and strives to build best-in-class companies. For more information, visit

About Cadrex (Previously CGI Manufacturing Holdings)

Cadrex (previously CGI Manufacturing Holdings) is a leading provider of complex sheet metal and machined production parts, assemblies, and weldments for a variety of end markets, including electrical transmission and distribution, warehouse automation, technology, aerospace & defense, medical, food, and industrials. With locations in Illinois, Wisconsin, Minnesota, Michigan, Indiana, Massachusetts and Oklahoma, Cadrex (CGI) offers numerous in-house manufacturing capabilities, including laser cutting, sheet metal fabrication, complex assembly, CNC punching, CNC machining, forming, robotic welding, stamping, fastener insertion, and tool and die manufacturing, to effectively serve customers with lights-out manufacturing capabilities for mid- to high-volume production.

About Advanced Laser Machining

Founded in 1996, Advanced Laser Machining (“AL”) is a full-service provider of metals-focused contract manufacturing solutions for a variety of end markets, including supercomputing, aerospace & defense, medical, transportation and industrials. Headquartered in Chippewa Falls, Wisconsin, AL operates four facilities and holds ISO 9001:2015, AS9100 and American Welding Society certifications.