The Bundy Group reported 15 automation transactions in its March 2026 summary reports. Analysis on the acquisitions and reports are highlighted below including transactions involving GE Vernova, Rivian, Tavoron, Velotic, and others.
March 2026 merger, acquisition, automation industry insights
- In the March 2026 monthly report to Control Engineering website, the Bundy Group, which helps with mergers, acquisitions and raising capital, reported 15 transactions.
- Companies included in the Bundy Group February 2026 reports include GE Vernova, Rivian, Tavoron and Velotic among others.
- Technologies and services involved include automation, autonomous systems, industrial AI, HMI, SCADA, MES, motors, drives, motion control, power supplies, robotics and valves among others.
Automation mergers, acquisitions and investments include industrial automation, drones, HMI, motion control, valves and other technologies. Bundy Group, an investment bank and advisory firm that specializes in the automation segment, provides an update on mergers and acquisitions and capital placement activity for this industry, with 15 March 2026 report transactions, involving GE Vernova, Rivian and Tavoron, among other companies. The Bundy Group said that the automation market continues to experience many mergers and acquisitions (M&A) and capital markets activities. Activity drivers include the growth-oriented nature of the automation market, the consolidation opportunities within the industry and the strength of many of the companies operating within it. The automation market has attracted a critical mass of strategic buyers and financial sponsors (private-equity groups, family offices, institutional investors) that seek to own or invest in the industry. From such Bundy Group closed automation transactions as CITI System Integrators and Ultimation, and the team continues to see strong interest from a range of qualified buyers in the automation segment. Further evidence of the robust M&A and capital placement activity in automation is provided in the transactions listed.
LFM Capital acquired PowerBuilt Material Handling Solutions, March 17
LFM Capital acquired PowerBuilt Material Handling Solutions, joining Southern Tooling and Tuttle as part of the American Automation Group platform. Founded in 2000 and based in Bellefontaine, Ohio, PowerBuilt designs, manufactures, and installs custom automated equipment including lift assists, conveyors, robotics and integrated systems for automotive and general industrial customers.
Accel & Andreessen Horowitz funded Mind Robotics, March 11
Mind Robotics, an industrial robotics lab spun out of Rivian, has raised $500 million in Series A funding co-led by Accel and Andreessen Horowitz. The Palo Alto-based startup, founded by Rivian CEO RJ Scaringe, develops AI-powered robots, hardware, and infrastructure for dexterous factory tasks like picking, assembly and inspection using Rivian factory data.
Havoc acquired Teleo, March 11
Havoc, the all-domain collaborative autonomy company, has closed acquisitions of Mavrik and Teleo. Mavrik is a Long Beach-based drone technology company; Teleo is a Palo Alto-based leader in supervised autonomy for heavy machinery. These deals expand Havoc into air and land domains for unified autonomous systems across defense and commercial markets.
Rhino Tool House acquired Ergonomic Solutions, March 9
Rhino Tool House has acquired Ergonomic Solutions Inc., a distributor and turnkey solutions provider based in Wichita, Kansas. ESI specializes in overhead cranes, conveyors and custom material handling systems, expanding Rhino’s Midwest presence and material handling capabilities.
Rhino Tool House acquired Teknikor, March 9
Rhino Tool House has acquired Teknikor, a second-generation industrial services company based in Fall River, MA. Teknikor specializes in turnkey solutions including automation, plant layout, relocation, process design, controls, electrical/mechanical contracting and consulting for manufacturers.
TPG acquired Proficy software, March 2, launches Velotic
GE Vernova sold its Proficy software business to TPG for $600 million, establishing it as an independent software firm serving more than 20,000 customers in discrete, process, hybrid manufacturing, metro transit and infrastructure. Proficy software offers integrated cloud/on-premises human-machine interface/supervisory control and data acquisition (HMI/SCADA), manufacturing execution systems (MES), industrial data management software and analytics from equipment to enterprise levels.
TPG, in turn, launched Velotic, to support industrial operators with Proficy, Kepware and ThingWorx software, with an emphasis on AI‑enabled manufacturing and industrial software.
Searchlight Capital Partners acquired Kore Group Holdings, Feb. 27
Kore Group Holdings Inc. a global IoT hyperscaler providing connectivity, solutions and analytics, is being acquired by Searchlight Capital Partners and Abry Partners in an all-cash deal valued at approximately $726 million. The transaction offers a 691% premium to the Dec. 18, 2024, closing price and 132% to Nov. 3, 2025, levels, with board approval and Kore transitioning to private status post-close.
Kanbrick invests in Depatie Fluid Power Group, Feb. 24
Kanbrick formed a minority partnership with Depatie Fluid Power Group, a manufacturer, distributor and service provider of fluid power components and automation systems. For 70 years, Depatie (now part of American Motion Group with subsidiaries like CKC Automation) has delivered motion control, engineering services and hydraulic/pneumatic solutions across diverse industrial applications.
L Squared Capital Partners acquired Functional Devices, Feb. 23
Shorehill Capital sold Functional Devices Inc. to L Squared Capital Partners, a U.S. manufacturer of electronic devices for building automation anchored by its Rib brand. Based in Sharpsville, Indiana, FDI specializes in relays, current sensors and power supplies that simplify HVAC and lighting control system installations with <1 in 16,000 field failure rate.
Tavoron acquired Doig Corp., Feb. 23
Tavoron has acquired Doig Corp., an established factory automation distributor headquartered in Cedarburg, Wisconsin. Founded in 1956, Doig provides motion control, robotics, sensors, vision, safety, electrical control and pneumatic systems to original equipment manufacturers (OEMs) and end users across industrial manufacturing applications.
HKW acquired Handling Systems and Conveyors, Feb. 19
HKW acquired Handling Systems and Conveyors, a vertically integrated designer, manufacturer, installer and service provider of crane, hoist, conveyor and tooling solutions. Founded in 1992, HSC serves aerospace and defense, industrial manufacturing and transportation markets with engineered material handling systems supporting automation, productivity and safety.
Flow Control Management acquired Kingston Valve, Feb. 18
Flow Control Management acquired Kingston Valve Co, a division of Storm Manufacturing Group, expanding its mission-critical flow-safety solutions portfolio. Kingston’s valves complement FCM’s Aquatrol division safety/relief valve offerings, with operations integrating into Aquatrol’s Elburn, Illinois, facility known for complex valves and short lead times.
Genuine Parts Co. plans to separate from Automotive Parts Group & Industrial Parts Group, Feb. 17
Genuine Parts Company plans to separate into two independent public companies by first-quarter 2027: Global Automotive (automotive parts) and Global Industrial (industrial replacement parts and solutions). The tax-free spin-off aims to sharpen market focus, simplify operations and enable business-specific investments for each standalone entity.
Tencarva Machinery Co. acquired Hoffman-Kane Distributors, Feb. 17
Tencarva Machinery Company acquired Hoffman-Kane Distributors, a provider of industrial fluid handling and sealing solutions serving Western Pennsylvania, Eastern Ohio, and West Virginia. Backed by Bessemer Investors, the acquisition expands Tencarva’s flow control and process equipment distribution with exclusive territorial rights for John Crane and ITT Goulds products.
Tavoron acquired DP Technologies Group and DP Brown of Saginaw, Feb. 9
Tavoron acquired DP Technologies Group and DP Brown of Saginaw, providers of electrical and mechanical motion control systems headquartered in Saginaw, Michigan. Founded in 1894, they offer drives, motors, linear motion, sensors, HMIs, panel building, programming and engineering support for automotive, food processing, material handling and industrial applications.
Clint Bundy is managing director, Bundy Group, which helps with mergers, acquisitions and raising capital. Edited by Mark T. Hoske, editor-in-chief, Control Engineering, WTWH Media, [email protected].
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