Prototek Sheetmetal Acquires Hayes Manufacturing

CORE Industrial Partners, a Chicago-based private equity firm, announced the acquisition of Hayes Manufacturing Services, Inc., a rapid prototyping manufacturer of precision-machined plastic and metal components, by CORE portfolio company Prototek Sheetmetal Fabrication LLC. Financial terms of the transaction were not disclosed.

Headquartered in Silicon Valley, Hayes offers rapid prototyping and low-volume precision machining services for a blue-chip customer base primarily in the medical, aerospace, robotics and electronics end markets.  Founded in 1991, Hayes has nearly three decades of experience working closely with customers to manufacture products meeting the most stringent dimensional and aesthetic requirements, including tolerances as tight as one ten-thousands of an inch.  Hayes holds a variety of certifications and compliance designations, including ISO 9001, ITAR, FDA and CDPH.

John May, Managing Partner and Founder of CORE, said, “Our investment in Hayes is a great example of our continuing interest in building market leaders in the industrial sector that can benefit from CORE’s resources and expertise to enhance their growth and strategic position. We are very pleased to complete this strategic acquisition and look forward to working collaboratively with the Hayes and Prototek teams.”

Matthew Hayes, President and Founder of Hayes said, “On behalf of myself and all Hayes employees, we are very excited to join the Prototek team.  Both Hayes and Prototek are widely recognized for our outstanding customer service, and we are excited to leverage our complementary capabilities, customer bases and geographic footprints to accelerate the growth of the combined businesses.”

Matthew Puglisi, Partner of CORE, said, “Hayes’ consultative customer service approach and leading technical capabilities have engendered a recurring, loyal customer base that values the Company’s accessibility, flexibility and insight regarding everything from materials to manufacturability.  The acquisition of Hayes serves as a representative example of our intention to build a leading rapid prototyping service provider, in part, through highly complementary acquisitions.”

Monroe Capital LLC provided financing for the acquisition. Winston & Strawn LLP provided legal representation to CORE and Prototek in the transaction.

Read 1204 times

Rate this item
(1 Vote)

Copyright © 2018 Prototype Today ®. All rights reserved.

|   Privacy Policy |   Terms & Conditions |   Contact Us |

All trademarks and registered trademarks are the property of their respective owners.

Additive Manufacturing Today