Monroe Capital acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of Coining Manufacturing and Precision Machine Products (PMP) by GEM Manufacturing. GEM is an existing portfolio company of CORE Industrial Partners.
Founded in 1950 and headquartered in Waterbury, CT, GEM is a provider of precision deep drawn metal components and mechanical assemblies for a variety of end markets, including electric vehicle, mining, aerospace & defense and industrials. Coining and PMP provide specialty stamping and machining services, such as progressive die stamping, screw machining, CNC machining and wire EDM manufacturing technologies to produce complex precision components. The acquisition offers the platform a complementary service offering with many of the characteristics GEM maintains today, including: hard-to-manufacture metal parts, outstanding customer service, a state-of-the-art equipment base and deep technical expertise to serve as a single-source supplier for custom precision metalworking.