Automation mergers, acquisitions, capital markets analysis: July 2023
The Bundy Group reported 13 automation transactions in the month of July. Analysis on the acquisitions and reports are highlighted below.
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 is continuing to show strength and consistency in terms of mergers & acquisitions and capital placement activity in the automation market. We witnessed continued M&A activity by such seasoned buyers as GrayMatter and ATS, and new financial sponsors entered the space, which included Vance Street Capital and Ilion Capital Partners. Companies that were recently involved in transactions had such capabilities as control system integration, artificial intelligence, robotics and security monitoring solutions. The credible list of buyers and investors active in the below transactions highlights the strength and attractiveness of the automation market.
Bundy Group’s current engagements and owner relationships include control system integration, robotics, automated material handling, automation distribution, artificial intelligence (AI) and cybersecurity. This serves as a leading indicator for submarkets our team anticipates closed transactions in over the coming months. We look forward to providing these relevant updates and transaction announcements to Control Engineering magazine readers.
July 2023 automation transactions
Vance Street Capital’s Micronics Engineered Filtration Group, a global provider of aftermarket and OEM filtration equipment and consumables, acquired AFT, a filter media division of FLSmidth. AFT was started by FLSmidth in 1999 and was known previously as Advanced Filtration Technologies. Learn more.
ATS Corporation acquired Odyssey Validation Consultants Limited, an Ireland-based provider of digitalization solutions for the life science industry. Odyssey will join ATS’ Process Automation Solutions (“PA”) business, a leading provider of automation and digitalization solutions for the process and manufacturing industries. Learn more.
Ventra Health, the leading business solutions provider for hospital-based clinicians, acquired ArcMed, an India-based billing and automation services organization. This acquisition will strengthen Ventra Health’s service performance and quality, optimize operational efficiencies, and provide added scale for automation and growth. Learn more.
Simbe Robotics, Inc., the company leveraging AI and robotics to elevate the performance of retailers with real-time insights into inventory and operations, announced a Series B equity financing round of $28 million, led by Eclipse. Learn more.
Hexagon AB, the global leader in digital reality solutions, combining sensor, software and autonomous technologies, acquired HARD-LINE, a fast-growing, global leader in mine automation, remote-control technology and mine production optimization. Learn more.
nVent Electric plc, a global leader in electrical connection and protection solutions, has acquired TEXA Industries, which will operate within its Enclosures business segment. The acquisition of TEXA Industries and its highly complementary portfolio strengthens nVent’s position as a global systems provider. Learn more.
Tricentis, a global leader in continuous testing and quality engineering, acquired Waldo, a SaaS-based, no-code, zero-footprint mobile test automation platform. Waldo complements and extends Tricentis’ mobile testing offerings with new test automation capabilities, including native, hybrid, and web mobile application testing using virtual devices supporting iOS simulators and Android emulators. Learn more.
Digital Monitoring Products Inc. (DMP), the world’s leading manufacturer of security solutions, announces a strategic investment in iENSO Inc, the world’s leading developer and supplier of intelligent and connected embedded vision platforms. This strategic investment strengthens DMP’s capabilities by combining iENSO’s video expertise with DMP’s track record of innovation and customer service in the security industry, poised for significant growth in both commercial and residential video security markets. Learn more.
nami, a leading multi-sensing platform and ecosystem enabler for the Internet of Things (IoT) industry, announced the close of its Series A financing round, raising $10.5 million from strategic investors including Verizon Ventures, Amavi Capital, INSPiRE and Aconterra. Learn more.
GrayMatter announces its largest strategic merger to date with the addition of Automation & Control Concepts, a leading St. Louis-based industrial control systems integrator. GrayMatter is a technology and consulting company focused on helping manufacturing and critical infrastructure companies optimize production with digital operations. Learn more.
Abracon, a leading supplier of Frequency Control, Timing, Power, Magnetics, RF and Antenna solutions, acquired NEL Frequency Controls, Inc., a US-based manufacturer of ultra-low phase noise crystal oscillators and modules headquartered in Burlington, Wisc. Learn more.
Nordson Corporation (Nasdaq: NDSN) today announced that it has entered into a definitive agreement to acquire ARAG Group and its subsidiaries (“ARAG”) in an all-cash transaction that values ARAG at an enterprise value of €960 million. Headquartered in Rubiera, Italy, ARAG is a global market and innovation leader in the development, production and supply of precision control systems and smart fluid components for agricultural spraying. Learn more.
Staple Street Capital a leading middle-market private equity firm with approximately $900 million of capital under management, announced the sale of Mid States Supply to Ilion Capital Partners (“Ilion Capital”). Headquartered in Kansas City, Mid States is a value-added distributor of valves, pipes, and fittings and offers process control solutions. 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.