About This Fund
CORE Industrial Services Fund I is a $202 million private equity fund representing CORE Industrial Partners' inaugural dedicated vehicle for the fragmented North American industrial services sector. Closed in February 2024 alongside the firm's CORE Industrial Partners Fund III, Services Fund I brings the same operationally intensive, control-oriented lower middle-market buyout approach that has defined CORE's manufacturing and industrial technology strategy into an adjacent sector experiencing powerful secular growth tailwinds from the reshoring of North American manufacturing capacity and the rapid adoption of Industry 4.0 applications.
The fund focuses exclusively on the fragmented industrial services sector, targeting businesses whose customer base is concentrated in advanced manufacturing, industrial technology, and related verticals where CORE's existing portfolio and operational expertise provide meaningful sourcing and value-creation advantages. CORE believes the sector is under-penetrated by institutional private equity and is experiencing accelerating demand for predictive maintenance, field services automation, and specialized equipment servicing as domestic manufacturers adopt more sophisticated operational technology. The fund pursues control equity investments in service businesses with revenues up to approximately $200 million, executing add-on acquisition programs and operational transformation alongside management teams.
As CORE Industrial Partners' first dedicated services vehicle, Fund I represents a strategic extension beyond the firm's flagship manufacturing strategy while drawing on the same team and playbook that has generated over $1.58 billion in LP commitments across three funds since CORE's founding in 2016. The fund closed above its target and was backed by the same institutional LP base supporting CORE's prior funds, including endowments, foundations, insurance companies, public and corporate pension funds, global asset managers, and family offices across North America and Europe. The simultaneous close with Fund III in February 2024 brought combined new capital commitments to $887 million.