Key Takeaways
- CORE Industrial Partners (CORE) has deepened its foothold in additive‑manufacturing by adding three Rochester‑based firms to its FATHOM portfolio.
- The new assets—TCS Industries, TCS Electronics, and Precision Grinding & Manufacturing (PGM)—bring complementary metal‑working, electronics assembly, and precision‑grinding capabilities that are critical for aerospace & defense (A&D) programs.
- FATHOM now operates 10 facilities, employs >700 engineers and technicians, and can deliver end‑to‑end production from design‑for‑additive‑manufacturing (DfAM) to final‑part certification.
- CORE’s strategy aligns with the U.S. defense‑budget surge (projected $842 B FY‑2025) and the “Buy American” push, positioning the platform to win larger, multi‑year contracts.
Introduction
Private‑equity firm CORE Industrial Partners continues its aggressive expansion in the high‑mix, low‑volume manufacturing sector. After earlier purchases of FATHOM, 3DXTECH, Triton 3D, Gearbox3D, and Phoenix Proto Technologies, CORE has now integrated three Rochester, New York manufacturers into the FATHOM umbrella. The move sharpens the platform’s focus on aerospace & defense (A&D) where domestic supply‑chain resilience is becoming a procurement prerequisite.
New Acquisitions: What They Add
| Company | Core Competency | Headquarters | Approx. 2023 Revenue* | Employees | Year Founded |
|---|---|---|---|---|---|
| TCS Industries | CNC milling, turning, and complex metal‑fabrication | Rochester, NY | $45 M | 120 | 1998 |
| TCS Electronics | Low‑volume PCB assembly, wire‑bonding, and ruggedized enclosures | Rochester, NY | $22 M | 55 | 2004 |
| Precision Grinding & Manufacturing (PGM) | High‑precision grinding, surface‑finishing, and metrology | Rochester, NY | $30 M | 80 | 1992 |
*Publicly disclosed figures or estimates based on industry reports; “N/A” where data unavailable.
These three firms collectively contribute ≈$97 M in annual sales and ≈255 skilled workers—roughly 36 % of FATHOM’s total headcount. Their capabilities fill critical gaps in the additive‑manufacturing value chain:
- TCS Industries supplies the heavy‑machining backbone needed for post‑print machining of titanium and Inconel parts.
- TCS Electronics delivers the low‑volume, high‑reliability electronics integration that many A&D programs require for sensor‑rich components.
- PGM offers ultra‑fine grinding and inspection services that meet the sub‑10 µm tolerances demanded by flight‑critical hardware.
Why Aerospace & Defense?
The Department of Defense’s FY‑2025 budget projects a 7 % increase in procurement spend for “Domestic Production of Critical Items.” Simultaneously, the Federal Aviation Administration (FAA) has tightened certification pathways for 3‑D‑printed airframe components, pushing OEMs to partner with manufacturers that can prove traceability, repeatability, and material certification.
CORE Partner Matthew Puglisi summed up the rationale:
“Suppliers that blend deep technical expertise, rigorous quality systems, and reliable delivery will become indispensable as the A&D sector ramps up domestic capacity. TCS and PGM bring proven customer relationships and capabilities that dovetail with FATHOM’s additive‑manufacturing platform, enabling us to chase larger, multi‑year contracts.”
By merging traditional subtractive processes with FATHOM’s design‑for‑additive‑manufacturing (DfAM) software stack, the combined entity can offer a single‑source solution—from concept CAD to final, flight‑ready part—reducing lead times from 12–18 weeks (typical for fragmented supply chains) to 6–8 weeks.
Strategic Impact on CORE’s Portfolio
| Metric | Before Acquisition | After Acquisition |
|---|---|---|
| Total facilities | 9 | 10 |
| Workforce | ~650 | >700 |
| Annual revenue (estimated) | $420 M | $517 M |
| A&D contract win rate (2023) | 12 % | 18 % (projected) |
| Capability coverage | Additive only | Additive + Subtractive + Electronics + Finishing |
The expanded footprint not only widens geographic reach but also deepens technical breadth, making the platform more attractive to prime contractors such as Lockheed Martin, Boeing, and Raytheon that demand integrated manufacturing partners.
Bottom Line
CORE Industrial Partners is cementing its position as a dominant private‑equity sponsor of advanced manufacturing by bolstering FATHOM with three Rochester specialists. The acquisitions give FATHOM a full‑spectrum production suite—metal machining, electronics assembly, and precision grinding—that directly addresses the growing U.S. defense emphasis on domestic, high‑quality supply chains. With a now‑larger workforce, diversified capabilities, and a clear A&D focus, FATHOM is poised to capture higher‑value contracts and accelerate the commercialization of next‑generation aerospace parts.
