Lower middle market private equity firm
CORE Industrial Partners
- HeadquartersChicago, IL S1
- Websitecoreipfund.com
- Last verifiedOctober 19, 2026
At a glance
| Latest fund | CORE Industrial Partners Fund III, $685M (Feb 2024) S5 |
|---|---|
| EBITDA range | Up to $20M S3 |
| Revenue range | Up to $200M S3 |
| Check size | Up to $150M S1 |
| Deal types | Platform, Add-on, Growth S2 |
| Geography | North America S2 |
| Sectors | Industrial & Manufacturing, Transportation & Logistics, Consumer & Food |
What CORE Industrial Partners buys
CORE Industrial Partners is a Chicago private equity firm, with offices in Austin and Cleveland, that invests only in lower middle market manufacturing, industrial technology and industrial services companies in North America. It has raised more than $1.58 billion across four funds, most recently the $685 million Fund III and the $202 million Industrial Services Fund I, both closed in February 2024. Its published limits are up to $20 million of EBITDA, up to $200 million of revenue and up to $150 million of equity per deal.
CORE buys majority control, usually through family succession sales, management buyouts, carve-outs, growth deals or turnarounds, and its partners include several former CEOs who stay involved in operations after closing. Sellers can take all their money off the table or keep a stake by rolling equity. Each platform then grows through add-ons, so a smaller manufacturer or service business is most likely to meet CORE as a tuck-in for Fathom, Cadrex, IMMEC, Momentium or another current holding.
Recent deals
Announced in the 24 months before October 19, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Oct 2026 | TCS Industries, TCS Electronics and Precision Grinding & ManufacturingTwo Rochester, New York aerospace and defense manufacturers added to Fathom, taking it to 10 facilities | Add-on | Industrial & Manufacturing | Source |
| Apr 2026 | PrecisionX GroupPrecision metal components platform sold to Windjammer Capital after a three-year hold and five add-ons | Exit | Industrial & Manufacturing | Source |
| Feb 2026 | Helton Electrical ServicesGeorgia utility electrical and HVAC contractor added to IMMEC; existing leaders stay | Add-on | HVAC, Plumbing & Electrical | Source |
| Jan 2026 | Airway AerospaceFlorida aircraft repair station added to AxioAero Group; keeps its name and leadership | Add-on | Source | |
| Sep 2025 | Superior LithographicsLos Angeles folding carton and label printer added to Momentium | Add-on | Industrial & Manufacturing | Source |
| Aug 2025 | Edwards Moving & RiggingKentucky heavy hauling and rigging company founded in 1961 | Platform | Transportation & Logistics | Source |
| Aug 2025 | IMMECGeorgia facility maintenance, retrofit and renovation provider founded in 2002 | Platform | Source | |
| Jul 2025 | Hudson TechnologiesFlorida deep drawn stamping company added to PrecisionX | Add-on | Industrial & Manufacturing | Source |
Portfolio by sector
From the firm's portfolio page S4.
Industrial Services
- AxioAero Group
- Edwards Moving & Rigging
- IMMEC
Industrial Technology, Manufacturing
- 3DXTECH
- Cadrex Manufacturing Solutions
- Fathom
- UPTIVE
Manufacturing
- Cohere Beauty
- Kelvix
- Momentium
- Vantage Lighting
- Winky Lux
Greymont’s take
How CORE Industrial Partners fits a seller
CORE suits owners of manufacturing, machining, packaging or industrial service companies who are ready to sell control, often because no family member will take over. Turnarounds are on its list too, so a business that has stalled is not ruled out. Its 2025 platform deals for IMMEC and Edwards Moving & Rigging kept the existing leaders in place, and add-on sellers such as Helton Electrical and Airway Aerospace kept their names and management.
CORE tends to sell on a fairly short clock: PrecisionX went to Windjammer Capital about three years after CORE's first investment, and MedLit was sold roughly two years after the platform was formed. An owner who rolls equity should ask how long CORE expects to hold the company and how much of the operating plan its own operating partners will run.
Questions owners ask
What size companies does CORE Industrial Partners buy?
Its published criteria cover companies with up to $20 million of EBITDA and up to $200 million of revenue, with equity of up to $150 million per deal. It does not publish a minimum, and smaller companies are often bought as add-ons.
Does CORE buy industrial services businesses or only manufacturers?
Both. In February 2024 it closed a separate $202 million Industrial Services Fund I, and in August 2025 it bought IMMEC, a Georgia facility maintenance firm, and Edwards Moving & Rigging, a Kentucky heavy hauling company.
Can an owner keep a stake after selling to CORE?
Yes. CORE generally takes majority control but says sellers can choose full liquidity for retirement or keep a sizable share by rolling equity into the deal, and it leaves the split to discussion.
How long does CORE usually hold a company?
Recent exits point to a few years. It sold PrecisionX Group to Windjammer Capital in April 2026, about three years after its first investment in February 2023, and sold MedLit Solutions in 2022, two years after starting that platform.
Sources
- S1CORE Industrial Partners home page Accessed October 19, 2026
- S2CORE: What We Do Accessed October 19, 2026
- S3CORE: Business Owners & Management Teams Accessed October 19, 2026
- S4CORE: Portfolio Accessed October 19, 2026
- S5CORE Announces Closing of Two New Funds Totaling $887 Million (February 14, 2024) Accessed October 19, 2026
- S6CORE fact sheet, October 2026 Accessed October 19, 2026
- S7CORE Completes the Sale of PrecisionX Group (April 1, 2026) Accessed October 19, 2026
- S8CORE Sells MedLit Solutions (October 18, 2022) Accessed October 19, 2026
- S9CORE: Latest News Accessed October 19, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with CORE Industrial Partners. Figures are as reported on the dates shown and may have changed. Request a correction