CORE Industrial Partners Portfolio Company Cadrex Solutions Acquires D&R Machine Company
CORE Industrial Partners (“CORE”), a manufacturing, industrial technology, and industrial services-focused private equity firm, announced the acquisition of D&R Machine Company (“D&R” or the “Company”), a provider of CNC precision machining solutions for the aerospace & defense market, by CORE portfolio company Cadrex Manufacturing Solutions (“Cadrex”).
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“D&R serves as an integral partner to its customers, spanning from evaluation of manufacturability through full-scale production of high-precision CNC machined components and assemblies. The Company’s differentiated, technology-enabled manufacturing capabilities and aerospace & defense expertise are compelling attributes and a strong fit with the Cadrex platform.”
The Cadrex platform was formed in 2021 and includes 1.5 million square feet of manufacturing space and more than 2,000 employees across eleven states as well as Mexico.
Founded in 1971, D&R Machine specializes in high-complexity CNC milling, CNC turning, and assembly for the aerospace & defense market through a variety of applications, including auxiliary power units, starter generators, structures, rotor systems, and control systems. The Company utilizes a fleet of nearly 40 CNC machines and has the capability to machine castings, forgings, and block and bar stock from a range of materials, including aluminum, stainless steel, magnesium, titanium, nickel, and high-temperature alloys, brass, bronze, and plastics.
Dedicated to driving efficiency through investments in state-of-the-art machine tool equipment and automation, D&R has outfitted many of its machines with bar feeders, pallet changers or gantry loaders to augment its fully automated machining cells. The Company is headquartered north of Philadelphia in Southampton, Pennsylvania, and operates an ISO 9001 and AS9100 certified and ITAR-registered facility.
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Matthew Puglisi, Partner at CORE, said, “D&R serves as an integral partner to its customers, spanning from evaluation of manufacturability through full-scale production of high-precision CNC machined components and assemblies. The Company’s differentiated, technology-enabled manufacturing capabilities and aerospace & defense expertise are compelling attributes and a strong fit with the Cadrex platform.”
Brian Steel, Chief Executive Officer of Cadrex, said, “With the addition of D&R Machine to the Cadrex family, our expansive North American footprint of 21 facilities now includes dedicated aerospace & defense manufacturing facilities on both coasts as well as in the Midwest. We look forward to leveraging our differentiated scale and breadth of capabilities to partner with our valued customers.”
Paul Redante, President of D&R, said, “On behalf of the entire D&R family, we’re excited to take this next step in the Company’s 50-year history. We believe our focus on continuous improvement produces superior engineering, quality, and delivery performance that will only benefit from our new partnership with Cadrex and CORE.”
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