Investment group acquires Xycom

Factory-floor automation manufacturer Xycom Inc. was acquired and recapitalized March 24 by an investment group of factory automation specialists and business development experts. Details of the transaction weren't disclosed.The new entity, Xycom Holdings Inc., was formed by three principals: current Xycom chair Erwin Ziegelman; James McGrath, another Xycom director;...

04/01/1998


Factory-floor automation manufacturer Xycom Inc. was acquired and recapitalized March 24 by an investment group of factory automation specialists and business development experts. Details of the transaction weren't disclosed.

The new entity, Xycom Holdings Inc., was formed by three principals: current Xycom chair Erwin Ziegelman; James McGrath, another Xycom director; and investment banking firm Cruttenden Roth Inc. (Irvine, Calif.). The group also includes Paul White, former ceo of Modicon Inc., Jose Dedeurwaerder, former ceo and president of Modern Engineering, and Kevin Kimberlin, chair and controlling shareholder of Spencer Trask & Co.

Xycom Holdings also appointed a new board of directors, including Thomas Gross, the new company's president and ceo, Mr. Ziegelman, Mr. McGrath, Mr. White, Mr. Dedeurwaerder, Michael Doherty of Cruttenden Roth, and Allan Ziegelman. Mr. McGrath was also elected board chair.

"This experienced and knowledgeable group provides us with significant added financial resources, and a group of owners and board that understands factory-floor automation and is experienced in building dynamic high-growth companies," says Mr. Gross. "Together they've started nearly 100 companies, and acquired over 500. Their expertise and guidance should help us enormously as we take Xycom to the next level of industry leadership in the open architecture segment of the changing factory-floor arena."





No comments
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by...
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Big Data and IIoT value; Monitoring Big Data; Robotics safety standards and programming; Learning about PID
Motor specification guidelines; Understanding multivariable control; Improving a safety instrumented system; 2017 Engineers' Choice Award Winners
Selecting the best controller from several viewpoints; System integrator advice for the IIoT; TSN and real-time Ethernet; Questions to ask when selecting a VFD; Action items for an aging PLC/DCS
This digital report will explore several aspects of how IIoT will transform manufacturing in the coming years.
Motion control advances and solutions can help with machine control, automated control on assembly lines, integration of robotics and automation, and machine safety.
This article collection contains several articles on the Industrial Internet of Things (IIoT) and how it is transforming manufacturing.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

Future of oil and gas projects; Reservoir models; The importance of SCADA to oil and gas
Big Data and bigger solutions; Tablet technologies; SCADA developments
SCADA at the junction, Managing risk through maintenance, Moving at the speed of data
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Jose S. Vasquez, Jr.
Fire & Life Safety Engineer; Technip USA Inc.
click me