Experimental quenching and partitioning (Q&P) heat treatments can provide low-alloy steels with moderate ductility and very high strength. In this study, we develop a new press partitioning process that combines the outstanding properties of Q&P treated steels with the short cycling times of press hardening. In dilatometric analyses of the low-alloy steel 37SiB6, we identify sufficient transformation parameters. An austenitisation temperature of 950 °C and a partitioning temperature of 250 °C are used to produce a number of reference conditions in a conventional furnace. Retained austenite fractions of these reference conditions, ranging from 2.1 to 6.3 wt.-%, show tensile strengths of up to 1860 MPa and elongations at fracture up to 7 %. We further carefully characterize the mechanical behavior under process-related conditions up to temperatures of 700 °C using combined thermography and digital image correlation in a new, custom-designed experimental setup. Based on these data, numerical analyses of the press partitioning process indicate that various temperature profiles and cooling rates occur within the differentially heated die during processing. Initial processing experiments show that the die temperature has a significant influence on the press partitioning process. Locally different microstructures as well as strength gradients are revealed by characterization of the semi-finished products. Our study demonstrates that the new low-alloy steel is suitable for Q&P heat treatments in the innovative press partitioning process and provides detailed results on the thermo-mechanical material response in a wide range of temperatures.