Private equity firm Core Industrial Partners buys Summit Tooling and Summit Plastics

Chicago-based private equity firm Core Industrial Partners has acquired tooling and injection molding suppliers Summit Tooling Inc. and Summit Plastics Inc. by its portfolio company Fathom. The precision tooling and injection molding supplier is the fourth add-on acquisition to the Fathom platform since Core made its initial investment in 2018.

The terms of the deal have not been disclosed.

Founded in 1996 and headquartered in McHenry, Ill., Summit provides injection mold design, precision moldmaking and close-tolerance injection molding with a specialty in small-to-medium prototype injection molds. The company has more than 30 machines. Summit’s in-house metalworking capabilities include engineering design, sheet metal shearing, punching and bending, roll forming, hardware integration, welding, grinding, polishing, painting and assembly.

The company operates a 26,000-square-foot facility.

“Summit’s leading customer base includes some of the largest and most recognizable players in the medical and packaging spaces,” Matthew Puglisi, Partner of Core, said in a news release. “This acquisition significantly enhances Fathom’s domestic injection molding and tooling capabilities, and we’ll continue to actively pursue acquisitions, similar to Summit, that simultaneously broaden our customer base, enhance our service offering, and deepen our presence in attractive, recession-resistant end markets.”