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CORE Industrial Partners Portfolio Company PrecisionX Group Acquires Hudson Technologies

1. CORE acquires Hudson Technologies to enhance PrecisionX's capabilities. 2. Hudson specializes in deep and shallow drawn stamping for key markets. 3. PrecisionX aims to serve aerospace, medical devices, and semiconductor sectors. 4. Hudson's quality focus and diverse customer base strengthen its market position. 5. The acquisition aligns with trends in manufacturing and technology sectors.

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FAQ

Why Bullish?

The acquisition of Hudson bolsters PrecisionX's portfolio in high-growth sectors, which could enhance HDSN's market sentiment similarly, especially if HDSN can leverage any synergies from this acquisition, as seen in past strategic purchases in tech-focused companies.

How important is it?

The acquisition is significant as it directly connects to operational capacities in sectors where HDSN might operate, impacting investor sentiment and potentially leading to expanded market opportunities for similar companies.

Why Long Term?

The synergies from this acquisition may take time to materialize fully, as integration often requires significant time to harness market advantages, akin to historical acquisitions like Raytheon's purchase of UTC Aerospace which transformed their operational scale.

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CHICAGO--(BUSINESS WIRE)--CORE Industrial Partners (“CORE”), a manufacturing, industrial technology, and industrial services-focused private equity firm, announced today the acquisition of Hudson Technologies (“Hudson” or the “Company”), a provider of specialty deep and shallow drawn stamping, by CORE portfolio company PrecisionX Group (“PrecisionX”). The highly complementary addition of Hudson to the PrecisionX platform continues CORE’s intent to build a mission-critical precision components business serving attractive end markets. Formed in 2023, PrecisionX offers specialty deep and shallow drawn and progressive stamping as well as Swiss screw, CNC, and wire EDM machining technologies for growth-oriented end markets, including aerospace & defense, medical devices, and satellite & space. The platform covers approximately 400,000 square feet of manufacturing space with more than 650 employees across seven facilities. The Company holds ISO 9001, ISO 13485, and AS9100D certifications, in addition to ITAR and FDA registrations. Founded in 1940, Hudson offers precision deep and shallow drawn stamping and progressive die stamping to manufacture metal enclosures, headers, diaphragms, and components using a variety of materials, from aluminum, stainless steel, copper, brass and titanium to specialty alloys, including Hastelloy, Haynes 242, HyMu80, Inconel, Kovar and Monel, among others. The Company augments its core stamping capabilities with dedicated in-house tool & die design and development as well as a broad selection of value-added finishing services, including annealing, anodizing, bead blasting, heat treating, painting, plating, polishing, and powder coating. Hudson serves numerous end markets, including semiconductor, electronics, and industrials, with especially deep experience in the medical and aerospace & defense sectors. The Company has manufactured deep drawn mission-critical implantable medical devices, such as cardioverter defibrillators and neuromodulation products, for approximately five decades, and produces valves, sensors, diaphragms, housings, antenna, and actuators for aerospace & defense applications ranging from engine and flight control to communication and navigation. Headquartered in Ormond Beach, Florida, with approximately 150 machines, the Company holds an AS9100 certification and an ITAR registration. Matthew Puglisi, Partner at CORE, said, “We believe Hudson, a long-recognized provider of deep and shallow drawn stamping, is an especially strong strategic fit with the PrecisionX platform. In addition to enhancing PrecisionX’s specialty stamping capabilities and capacity, the acquisition deepens the platform’s medical and aerospace & defense presence while aligning with its strategic focus on serving critical-use applications in those attractive end markets.” Rock Lambert, Operating Partner at CORE, said, “It’s a pleasure to welcome Hudson to the PrecisionX platform. We believe Hudson’s impressive customer base of many industry-leading companies in demanding end markets speaks to both the Company’s differentiated manufacturing capabilities and its stringent focus on quality, both of which are a compelling fit with the platform.” ABOUT CORE INDUSTRIAL PARTNERS: CORE is an industrials-focused private equity firm with more than $1.58 billion in total limited partner capital commitments across four funds investing in North American lower middle-market manufacturing, industrial technology, and industrial service businesses. With offices located in Chicago, Austin and Cleveland, CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience, and a demonstrated track record of building market-leading businesses. Through our capital, insight, and operational expertise, CORE partners with families, entrepreneurs and management teams and strives to build best-in-class companies. For more information, visit www.coreipfund.com. ABOUT PRECISIONX GROUP: PrecisionX Group provides precision metal components for critical-use applications in growth-oriented end markets, including aerospace & defense, medical devices, satellite & space, electric vehicles, mining, semiconductors, and other industrial markets. Headquartered in Waterbury, Connecticut, PrecisionX utilizes deep and shallow drawn and progressive stamping, as well as Swiss screw, CNC, and wire EDM machining technologies to manufacture high-precision components from prototyping through high-volume production. For more information, visit www.precisionxmfg.com. ABOUT HUDSON TECHNOLOGIES: Hudson Technologies provides precision deep and shallow drawn stamping and progressive die stamping, in-house tool & die design and development capabilities, and a broad selection of value-added finishing services. The Company serves a variety of end markets, including aerospace & defense, medical, electronics, semiconductor, and industrials through a fleet of approximately 150 machines. Headquartered in Ormond Beach, Florida, the Company holds an AS9100 certification and is ITAR-registered. For more information, visit www.hudson-technologies.com.

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