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August 22, 2024

Waterbury manufacturer, on acquisition spree, buys 2nd company in 3 months

Contributed PrecisionX Group is headquartered in the former GEM Manufacturing building in Waterbury. A private equity firm acquired GEM Manufacturing and another company in 2023 to form PrecisionX.
By Andrew Larson

Waterbury-based PrecisionX Group has acquired a New York-based specialty stamping manufacturer, just three months after buying a similar company based in New Jersey.

On Thursday morning, PrecisionX’s parent company, Chicago-based private equity firm CORE Industrial Partners, announced that PrecisionX had acquired Ditron Inc., a provider of micro-precision stamping based in Stormville, New York.

Ditron, founded in 1963, provides precision electrical connector solutions to businesses in the aerospace and defense, information and technology, medical, and electronics industries.

Ditron has a fleet of more than 24 high-speed Bruderer presses capable of up to 1,600 strokes per minute, according to the announcement.

“The acquisition of Ditron strategically expands PrecisionX’s capability set to include high-speed, high-volume micro- and micro-miniature stamping,” said Matthew Puglisi, a partner at CORE Industrial Partners. 

PrecisionX was formed last year after CORE Industrial Partners acquired Waterbury-based GEM Manufacturing and combined it with New Jersey-based Coining Manufacturing LLC.

In May, PrecisionX acquired National Manufacturing Co., headquartered in Piscataway, New Jersey, a specialty deep- and shallow-drawn stamping company.

CORE Industrial Partners invests in North American lower- and middle-market manufacturing, industrial technology, industrial services and consumer products businesses. It has more than $1.5 billion in capital commitments across companies in Florida, Michigan, Illinois, Massachusetts, Arizona, Wisconsin, New York, Oregon and Texas.

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