Automation mergers, acquisitions, capital markets analysis: October 2023
The Bundy Group reported 21 automation transactions in the month of October. 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 Bain Capital’s acquisition of Harrington Process Solutions, Rockwell’s acquisition of Clearpath Robotics, Accenture’s acquisition of ATI Solutions Group, and Automata’s $40 million capital raise. 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, 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.
October 2023 automation transactions
Triton funds have partnered with Wavelynx Technologies, a leader in mobile-first identity and access control solutions, to support the company’s next growth phase. The details of the transaction, where Triton and Wavelynx’s co-founders and management invest together, have not been disclosed. Wavelynx will operate as an independent portfolio company under Triton. Learn more.
IAR Group from Zofingen, which specializes in automation systems, is taking over SONTEC AG from Hochdorf, which is active in the fields of automated testing technology, assembly automation, robotics and image processing, with immediate effect. With this acquisition, the IAR Group strengthens its position in the global market for industrial automation and increases its production capacity in Switzerland. Learn more.
PULS, technology and market leader in DIN rail power supplies, has acquired the business of wireless charging specialist Wiferion. Wiferion’s leading technology is now enhanced with the capabilities of PULS, a technology-driven company based in Munich, with a revenue of 250 million euros in 2022. Wiferion customers benefit from a global presence in production and application support. Learn more.
Hoskin Scientific has acquired Durham Instruments. Based in Pickering, Ontario, Durham Instruments is a leading supplier of test & measurement instrumentation, data acquisition and control systems. The business offers custom system measurement solutions, including hardware and software integration and on-site technical service. Learn more.
Automata Technologies, a leading automation company powering life sciences labs, has raised $40m to accelerate its rapid growth and industry presence across the US, UK and EMEA. Dimension led the round and was joined by A.P. Moller Holding and others. Learn more.
E Tech Group, a major player in automation solutions, has acquired Automation Group, a leading provider of automation services across various industries. With a strong focus on sectors like Life Sciences and Food & Beverage, E Tech Group continues to expand its expertise through strategic acquisitions, enhancing its capabilities in delivering cutting-edge automation solutions. Learn more.
Rockwell Automation, Inc. the world’s largest company dedicated to industrial automation and digital transformation, completed its acquisition of Ontario, Canada-based Clearpath Robotics Inc., a leader in autonomous robotics, including autonomous mobile robots (AMRs) for industrial applications. Learn more.
Advantive, a mission-critical software provider for specialty manufacturing and distribution businesses, has acquired Proplanner, a leader in Product Lifecycle Management (PLM) solutions and Manufacturing Execution Systems (MES). This acquisition further advances Advantive’s commitment to driving innovation in the manufacturing and distribution lifecycle. Learn more.
INNIO Group has acquired Northeast-Western Energy Systems (NES-WES) from Penn Power Group, a prominent power systems integrator in the U.S. This acquisition aligns with INNIO’s growth strategy in the U.S., enabling the company to expand its presence and establish a comprehensive nationwide offering for new installations and energy services. Learn more.
ATS Corporation, a top automation solutions provider, has acquired Avidity Science, LLC, a leading designer and manufacturer of automated water purification solutions for biomedical and life science applications. The deal, subject to post-closing adjustments, aims for significant synergies, with $1.5 million expected by year 3 and $2.6 million by year 5. Learn more.
Indie Semiconductor has acquired EXALOS AG, a Swiss photonics firm, expanding its advanced driver assistance and user experience portfolio. The deal enhances Indie’s offerings with near-infrared and visible superluminescent LED products and semiconductor optical amplifier products, strengthening its position in automotive technology applications. Learn more.
Industrial Automation Group has acquired Delta Automation in Richmond, Virginia, marking its inaugural acquisition. The move enhances their expertise in industrial electronics remanufacturing and field service, aligning with their focus on mature, legacy, and end-of-life industrial replacement parts and repairs. Learn more.
PCE Automation has acquired Adapt Engineering Ltd, a Dublin-based company specializing in automated machine design and manufacturing. This acquisition grants PCE Automation multinational status for the first time in its 62-year history. Adapt Engineering has a strong track record, collaborating with leading medical device brands and delivering over 700 machines since its founding in 1986. Learn more.
Brixey & Meyer Capital has sold Guardian Access Solutions to Dallas-based private equity firm CenterOak Partners. Guardian, headquartered in Nashville, also with offices in Atlanta and Orlando, specializes in design, installation, and maintenance of access control systems, including commercial gates, overhead doors, parking systems, and access control/CCTV. Learn more.
Emerson today has acquired Afag Holding AG , an innovative leader in electric linear motion, feeding and handling automation solutions. The electric linear motion segment expands Emerson’s served market by more than $9 billion and is expected to grow mid-single digits annually, supporting Emerson’s long-term, profitable organic growth. Learn more.
Star Cutter Company has acquired Tru Tech CNC grinding systems from Resonetics, assuming all design and manufacturing of the Tru Tech high precision CNC grinding machines currently performed at the Michigan facilities in Mt. Clemens and Lewiston. Additionally, Star Cutter secures the service, training and spare parts support for Tru Techs’ vast installation base across North America and Europe. Learn more.
Harrington Process Solutions a leading specialty distributor of industrial flow control process solutions, has entered into a definitive agreement to be acquired by Bain Capital Private Equity. Harrington will continue to operate as a standalone company and be led by its current management team. Learn more.
Accenture has acquired ATI Solutions Group , a Perth-based consulting service provider to the mining, energy and rail industries. ATI will enhance Accenture’s capabilities in West Australia, where specialized digital and industrial talent is in high demand. Learn more.
Bentley Systems, Incorporated, the infrastructure engineering software company, has acquired Blyncsy provider of breakthrough artificial intelligence services for departments of transportation to support operations and maintenance activities. The digital twin ecosystem focus of Bentley’s iTwin Ventures portfolio is bolstered by accelerating the development and propagation of such broadly valuable infrastructure asset analytics. Learn more.
Tramec, LLC has acquired CS Automation located in Ontario, New York. Tramec and CS Automation have been long-time business associates as both a customer and supplier to each other. The two companies share very similar corporate values and vision, being committed to growth. Both companies will continue to make a heavy commitment investing in growth. Learn more.
H&P Technologies, Inc has acquired Youngblood Automation. Youngblood Automation, headquartered in Grand Rapids, Michigan, specializes in wholesale distribution, representing leading automation equipment manufacturers, and providing automation manufacturing services, featuring a portfolio of over 40 well-known industry brands. The deal closed on May 15, 2023. 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.