Automation mergers, acquisitions, capital markets analysis: May 2023
Bundy Group, an investment bank and advisory firm, provides an update on mergers & acquisitions and capital placement activity for companies that address the manufacturing and plant management fields.
2023 continues to demonstrate that even though macroeconomic headwinds are present (credit market uncertainty, inflation, rising interest rates), mergers and acquisitions and capital placement activity within the automation and industrial technology sectors continue to be strong. This resiliency is due to many reasons, which includes the stable, profitable and growing nature of these industries.
Transactions to note include Honeywell’s acquisition of Compressor Controls Corporation, SureKap’s purchase of Volumetric, and MolGen’s acquisition of Netherlands-based Synchron Lab Automation. The range of buyer types in the below transactions (public companies, financial sponsors, financial sponsor-owned platforms) highlight the range of options that business owners and management teams have when exploring strategic alternatives.
Bundy Group is currently active with numerous client engagements involving the above-mentioned industries. Over the coming months, we anticipate announcing several more business sale and capital placement transactions. We look forward to providing these relevant updates to Control Engineering magazine readers.
May 2023 automation transactions
LFM Capital, a private equity firm focused on lower middle market manufacturing and industrial services businesses portfolio company, SureKap LLC has acquired Volumetric Technologies. The companies’ product lines are highly complementary and both SureKap and Volumetric are well-positioned to benefit from the adoption of automation in the U.S. packaging industry. Learn more.
Global software company Nuix has acquired Rampiva, a workflow automation and job scheduling software provider. Rampiva is a long-term technology partner of Nuix, founded in 2016 to meet the needs of Nuix customers who wanted to achieve greater productivity by automating their data processing tasks. Learn more.
SkySpecs, a global leader in wind energy technology, has acquired i4SEE, a leader in fully automated wind turbine data analytics and fleet optimization. The combined entity brings together world-class data insight and automation to help wind farm owners and operators to optimally invest in, maintain, and manage their assets for sustainable returns. Learn more.
Addtronics, LLC, a mission-driven holding company dedicated to acquiring, empowering, and growing leading robotic automation solution providers, has acquired Bow Robotics. Located in West Chester, Ohio, Bow provides spare-parts, rebuild & repair services, and preventative maintenance for industrial robots used by customers in a variety of end markets across the country. Learn more.
SWAPP, a Houston- and Tel Aviv-based automation software provider for architectural construction documents, raised $11.5 million in Series A funding. Eurazeo led the round and was joined by Entrée Capital, Activum SG Ventures and XTX Ventures. Learn more.
Medical Manufacturing Technologies (MMT), a portfolio company of Arcline Investment Management and a leading global provider of medical device manufacturing solutions, acquired Ward Automation Galway (Ward Galway), an Ireland-based provider of custom automation solutions. Learn more.
Helios Technologies, Inc. a global leader in highly engineered motion control and electronic controls technology for diverse end markets, signed a definitive agreement to acquire i3 Product Development. i3 is a custom engineering services firm, with over 55 engineers, embodying expertise in electronics, mechanical, industrial, embedded and software engineering. Learn more.
CHA Consulting, Inc. (CHA), an innovative engineering design, consulting and construction management firm based in Albany, NY, has acquired Javan Engineering, a full-service engineering firm serving the industrial, chemical, pharmaceutical, biotech, healthcare, and university markets. Learn more.
MHM Automation Limited acquired all of the shares in Wyma Engineering (NZ) Limited (Wyma). Wyma is a world leading manufacturer of post-harvest vegetable and fruit handling equipment. It is based in Christchurch NZ, with operations in Europe and the UK. Wyma is majority owned by interests related to Andrew and Angela Barclay. Learn more.
Sniffer Robotics, a leading environmental technology enabled services firm, announced first and substantial close of a $2 million seed funding round, led by the Michigan Angel Fund. Other investors include Michigan Rise, Naruhisa Nakagawa, and Abhishek Desai of Desai Ventures. Learn more.
Columbus McKinnon Corporation, a leading designer, manufacturer and marketer of intelligent motion solutions for material handling, acquired montratec GmbH, a leading automation solutions company that designs and develops intelligent automation and transport systems for interlinking industrial production and logistics processes. Learn more.
Barcoding, Inc., the leader in supply chain efficiency, accuracy, and connectivity, acquired Procensis, Inc., a leading mobility solutions provider based in Warminster, Pennsylvania. This acquisition represents Barcoding’s focused investment in enterprise mobility and managed services to support their growing customer base. Learn more.
MolGen has acquired Dutch automation company Synchron Instrumenten BV, also known as Synchron Lab Automation. With this acquisition MolGen will expand its existing portfolio and its ability to build high-end automation solutions for DNA/RNA purification, library preparation and NGS setup to support MolGen’s reagent business. Learn more.
ENSCO, Inc. a global pioneer in railway inspection technology, has entered into an Equity Purchase Agreement to acquire KLD Labs, Inc. a world-leading provider of automated wayside inspection technology and laser profiling solutions. Learn more.
Raptor Technologies , the leader in school safety software, has acquired SchoolPass, Inc. a rapidly-growing provider of cloud-based attendance automation, dismissal automation, visitor management and emergency management software for K-12 schools. Learn more.
MiddleGround Capital, an operationally focused private equity firm that makes control investments in North American middle market B2B industrial and specialty distribution companies, has acquired Advantage Metal Products, a provider of high-precision metal products, as an add-on for its Megatech platform. Learn more.
Skalar was acquired by Battery Ventures for an undisclosed amount with close date of March 8. Owner and operator of a manufacturing company intended to automated analyzers for laboratory and process-industry. Learn more.
Bundy Group is a boutique investment bank that specializes in representing controls and automation, Internet of Things, and cybersecurity companies in business sales, capital raises, and acquisitions. Over the past 33 years, Bundy Group has advised and closed on over 250 transactions, which includes numerous automation-related transactions. You can learn more at www.bundygroup.com or by contacting Clint Bundy.
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