Automation mergers, acquisitions, capital markets analysis: November 2023
The Bundy Group reported 18 automation transactions in the month of November. 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.
The automation market continues to show resiliency and strength in terms of activity and interest from a diversified group of strategic buyers and financial sponsors. From our recently closed transactions in the sector (Avanceon; Ultimation), Bundy Group continues to see strong interest from a range of qualified buyers in the automation segment. Further evidence of the robust M&A activity in automation is provided by the below list of transactions. Recent transactions to note include the ATS acquisition of Avidity Science, Novatech Automation’s acquisition of TestSwitch, and Hubbell’s acquisition of Systems Control. Bundy Group anticipates several other automation transactions to be completed before the end of the year, and we will keep Control Engineering readers posted.
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.
November 2023 automation transactions
Huizenga Automation Group acquired GSE Automation on November 21, 2023. GSE, a leading industrial automation services company in Lansing, Michigan, provides diverse services such as process development, FEA analysis, and system design. This strategic move strengthens Huizenga’s presence in industrial automation, leveraging GSE’s expertise to enhance their portfolio. Learn more.
ATS Corporation announced the successful completion of its acquisition of Avidity Science, LLC, a growing designer and manufacturer of automated water purification solutions for biomedical and life science applications. Learn more.
MCCi, a leading business process automation company and a portfolio company of Century Park Capital Partners, has acquired GovBuilt, a low-code/no-code case management platform specifically built for government agencies to provide citizens with a one-stop experience for multiple use cases. This acquisition of GovBuilt will undoubtedly strengthen MCCi’s portfolio and reinforce its position as a leader in GovTech. Learn more.
Valmet has successfully acquired Körber’s Business Area Tissue, marking the completion of the transaction announced on July 7, 2023. This strategic move combines the offerings and competencies of Valmet and the acquired business, establishing the industry’s broadest technology, automation, and services portfolio for the growing tissue sector, covering the entire value chain from fiber to finished products. Learn more.
NovaTech Automation, a global leader in automation and control solutions, acquired TestSwitch LLC line of products. TestSwitch is a renowned provider of electromechanical switches used in critical infrastructure testing. This strategic acquisition further solidifies NovaTech Automation’s position in the industry while enhancing its product portfolio, including TestSwitch’s flagship product, the W3TS Test Switch. Learn more.
Huizenga Group Automation acquired Adaptek Systems and API Alliance to its growing portfolio of automation companies. Adaptek Systems is a highly qualified, solutions-driven design and build engineering firm. API Alliance is a manufacturer of custom electronics, electronic controls and electro-mechanical assemblies. Both companies are headquartered in Fort Wayne, Indiana. Learn more.
Commure, Inc., a key healthcare technology company, has acquired Rx.Health, an intelligent clinical automation platform, into its solutions, now called Commure Engage. Rx.Health’s platform streamlines patient care efforts with low-code, no-code clinical coordination, benefiting health systems, payors, and life science organizations. Learn more.
Motion & Control Enterprises has acquired Buford, GA-based Applied Industrial Controls, Inc. and Engineered Systems Group, LLC. AIC is a distributor of motors, drives, and controls for industrial and municipal customers in the states of Georgia, South Carolina, North Carolina, Alabama, Tennessee, and Florida. ESG is a systems integrator and panel shop providing engineering, programming, and systems integration services. Learn more.
Hubbell Incorporated has acquired Systems Control, a key player in substation control solutions, for $1.1 billion in cash. This strategic move enhances Hubbell Utility Solutions’ industry leadership, offering vital solutions for grid reliability and substation automation. Systems Control’s expertise and proven track record will drive efficient operations of critical infrastructure, aligning with Hubbell’s growth objectives. Learn more.
Fairbanks Morse Defense has acquired American Fan, a leading expert in fan technology based in Fairfield, Ohio. With 50 years of expertise in aerodynamics, acoustics, vibration control, and motor performance, American Fan is a trusted supplier in maritime defense. This acquisition enhances FMD’s ability to provide OEM parts and turnkey service solutions to their core customers. Learn more.
Alpha II, a healthcare revenue cycle management (RCM) technology solutions provider, has acquired RCxRules, a healthcare revenue cycle automation innovator. This strategic move aims to combine Alpha II’s rules engine with RCxRules’ workflow and automatic claim correction features, creating a comprehensive denials management solution. Learn more.
Accenture has acquired Comtech Group, a consulting and program management company specializing in infrastructure projects in Canada and the United States. Headquartered in Toronto, Comtech Group serves clients in transportation, infrastructure, manufacturing, and power sectors, offering expertise in construction management, engineering and process control automation. Learn more.
7Rivers, a tech startup specializing in AI and machine learning for business tools, has acquired PerformanceG2 (PG2), a prominent performance management consultancy. This strategic move merges the expertise of PG2’s seasoned data engineers with 7Rivers’ industry insights to create impactful business solutions. Learn more.
uAvionix has acquired Iris Automation, a leading provider of optical Detect and Avoid (DAA) technology. This strategic move combines uAvionix’s expertise in communications, navigation, and surveillance with Iris’ leadership in computer vision-based systems for safe aircraft separation. The acquisition strengthens uAvionix’s capabilities, with Jon Damush, former CEO of Iris Automation, now serving as the CEO of uAvionix Corporation. Learn more.
Rockwell Automation, has acquired Verve Industrial Protection, a cybersecurity software and services company that focuses specifically on industrial environments, expanding the offerings of Rockwell with an industry-leading asset inventory system and vulnerability management solution. Learn more.
Holland & Knight represented Kaho Partners and its portfolio company Addtronics in the acquisition of Sirius Automation. Based in Buffalo Grove, Ill., Sirius Automation is a leading developer of laboratory robotic systems for blue-chip biotech and pharmaceutical companies. Learn more.
Stabilus SE, a supplier of motion control solutions for a wide range of industries, signed an agreement to acquire the business of DESTACO, which supplies industrial automation components, from Dover Corporation, a global diversified industrial manufacturer headquartered in the U.S. The purchase price amounts to $680 million, subject to customary post-closing adjustments, and will be paid in cash by Stabilus. Learn more.
Metso has signed an agreement to acquire Tedd Engineering, a privately owned company specialized in automation, control systems, and electrical solutions for mobile equipment and aftermarket, primarily focusing on the aggregates business. Tedd Engineering employs approximately 70 employees and it’s based in Chesterfield, UK. 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.