Class VI Partners (“Class VI”) is pleased to announce the acquisition of Majestic Metals, LLC (“Majestic Metals” or the “Company”) by Incodema Holdings LLC (“Incodema”), a portfolio company of CORE Industrial Partners (“CORE”). Majestic Metals will combine with Incodema, Newcut, and Dahlquist Machine to form a nationwide precision manufacturing services provider.
The Roberts family built an industry-leading precision metal manufacturing company that has been on the leading edge of innovation for more than four decades. We have had the pleasure of working with Chip, Dave, and Doug Roberts for several years and are excited to watch their continued growth with CORE and Incodema. The Company’s strong performance throughout 2020, despite difficult macro economic conditions, is a testament to the strength of Majestic Metals’ ownership, management, and employees,” said Zack Gibson, Executive Vice President at Class VI.
Selling a business is an emotional event, especially when it is a family business and your first transaction. Class VI managed a tight timeline with ease and always made sure we understood each step of the process. We are glad to count the Class VI team as friends – any owner who is considering a sale of their business would be well served to consider Class VI for the transaction,” said David Roberts, Co-Owner of Majestic Metals.1
“For more than 40 years, Majestic Metals has established itself as a customer-focused provider of premium sheet metal products and engineering services. Finding the right partner for the next phase of growth was of the utmost importance, and we believe Class VI found the perfect fit with CORE and Incodema. Class VI was extremely well-organized, communication was always timely, and they were highly effective in negotiating the transaction. We couldn’t be happier with the process and the outcome,” said Chip Roberts, Co-Owner of Majestic Metals.2
Matthew Puglisi, Partner of CORE, said, “Majestic Metals has developed a strong reputation as a highly experienced manufacturer with the ability to serve as a thought and design partner, utilizing in-depth industry knowledge to support both the product development and production needs of its customers. We’re pleased to add Majestic Metals to Incodema and will continue to pursue highly complementary acquisitions to build out our nationwide platform.”
Carey Chen, CEO of Incodema, said, “Majestic Metals is a natural fit for us as they have similar precision metal fabrication capabilities including cutting, forming, and welding, but at a larger part scale. Furthermore, Majestic Metals brings incremental abilities to the group, including state-of-the-art automation, powder coating and screen printing. I look forward to working closely with the Roberts brothers and the Majestic Metals team in the future.”
Headquartered in Denver, Colorado, Majestic Metals is a precision sheet metal fabrication services provider, offering design and manufacturing solutions with a focus on low-to-mid volume production. The Company serves numerous end markets, including analytical instruments, medical, aerospace and defense, electronics, and industrials.
Incodema is a leading provider of sheet metal cutting and forming solutions, including laser, micro waterjet, specialty stamping, multislide, welding, and photochemical etching across numerous end markets. Incodema is headquartered in Ithaca, New York, with an additional manufacturing facility in Newark, New York.
The transaction closed on December 17, 2020. Davis Graham & Stubbs LLP served as the Company’s counsel.
Looking for more information about this transaction?
Please contact Zack Gibson at 303.243.5623 or zgibson@classvipartners.com.
Class VI provides middle-market investment banking services, including mergers and acquisitions advisory, corporate advisory, business valuation, and private capital raising services through its affiliate, Class VI Securities, LLC and Member FINRA. Class VI is also affiliated with and offers wealth management services through Class VI Family Office, LLC, a Registered Investment Advisor with the Securities & Exchange Commission.