November 2024 merger, acquisition, automation industry insights
- In the November 2024 monthly report to Control Engineering magazine and website, the Bundy Group, which helps with mergers, acquisitions and raising capital, reported 12 transactions.
- Companies included in the Bundy Group November 2024 report include Ametek, SCIO Automation and Siemens and others.
- Technologies involved include control valves, robotics, automated assembly, machine vision, simulation software and control system integration.
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, including the following report of November 12, 2024, transactions involving Ametek, SCIO Automation and Siemens, among others. Technologies involved include control valves, robotics, automated assembly, machine vision, simulation software and control system integration.
Bundy Group said, “The automation market continues to experience a tremendous number of mergers and acquisitions (M&A) and capital markets activity. Drivers of this activity 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. Furthermore, the automation market has attracted a critical mass of strategic buyers and financial sponsors (such as private equity groups, family offices and institutional investors) that are looking to own or invest in companies in the industry. From such Bundy Group closed automation transactions as Ultimation and MR Systems, our 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 below list of transactions.”
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 the coming months.
Bundy noted the following 12 transactions related to automation, controls or instrumentation in its November summary.
May River Capital has acquired Cashco, Nov. 13, 2024
May River Capital has acquired Cashco, a provider of pressure management solutions including regulators, control valves and tank safety equipment. Founded in 1920, Cashco, based in Ellsworth, Kansas, is known for its expertise, product quality and aftermarket services, with additional operations in Houston and Germany.
ServiceNow acquired Mission Secure, Nov. 6, 2024
ServiceNow has acquired Mission Secure, a Charlottesville-based provider of asset discovery for operational technology devices. This acquisition will enhance ServiceNow’s OT solutions, providing customers in industrial sectors like manufacturing, pharmaceuticals, energy, oil and gas and transportation with greater visibility and context into their OT environments.
Qingdao Baheal Medical Inc. funds ZAP Surgical Systems Inc., Nov. 8, 2024
ZAP Surgical Systems Inc., a provider of non-invasive robotic brain surgery, has closed a $78 million Series E funding round led by Qingdao Baheal Medical Inc., with participation from other strategic investors. The financing will support the commercialization of ZAP Surgical’s ZAP-X Gyroscopic Radiosurgery platform.
Integrated Water Services acquired Hi-Line Industries, Nov. 5, 2024
Integrated Water Services Inc. a provider of specialized water and wastewater treatment solutions, has acquired Hi-Line Industries, a designer and manufacturer of custom-fabricated equipment. This strategic acquisition enhances IWS’s ability to deliver products and services to customers.
StoneTree Investment Partners acquired Viking Engineering & Development, Oct. 29, 2024
StoneTree Investment Partners, a lower middle market industrials-focused private equity firm, acquired Viking Engineering & Development, a manufacturer of automated assembly and fastening equipment, based in Blaine, Minnesota. Viking primarily serves manufacturers in the wood pallet and bed frame industry.
Battery Ventures funded QSR Automations, Nov. 1, 2024
QSR Automations, a restaurant technology provider, has received a majority growth investment from Battery Ventures, a technology-focused investment firm. This investment marks a key milestone for QSR Automations, positioning the company for accelerated growth, enhanced innovation and expanded market reach.
Ametek acquired Virtek Vision International, Oct. 31, 2024
Ametek Inc. acquired Virtek Vision International, a provider of advanced laser-based projection and inspection systems. Virtek specializes in 3D laser projectors, smart cameras and AI-powered quality control systems, offering machine vision solutions that automate assembly processes and improve manufacturing efficiencies in aerospace, defense and industrial applications.
Siemens agreed to acquire Altair Engineering, Oct. 30, 2024
Siemens has agreed to acquire Altair Engineering Inc., a provider of software in the industrial simulation and analysis market, for $113 per share, valuing the deal at approximately $10 billion. The offer represents a 19% premium to Altair’s closing price on Oct. 21, 2024. This acquisition strengthens Siemens’ position in industrial software.
Sverica Capital Management invests in Electronic Source Co., Oct. 22, 2024
Sverica Capital Management has made a strategic investment in Electronic Source Co. (ESC), a provider of high-reliability circuit card assemblies for the aerospace, defense and space markets. Based in Van Nuys, California, ESC is ITAR-registered and NadCap and AS9100D accredited, known for its process controls, on-time deliveries and high customer acceptance rates.
Bond, Nventures, Anthos Capital funds Carbon Robotics, Oct. 21, 2024
Carbon Robotics, an AI-powered farming leader, raised $70 million in Series D financing led by Bond, with participation from NVentures, Anthos Capital, Fuse Venture Capital, Ignition Partners, Revolution, Sozo Ventures and Voyager Capital. This round brings total funding to $157 million, with Bond’s Mood Rowghani joining the board of directors.
ExSight Ventures and Main Street Advisors funds Horizon Surgical Systems, Oct. 16, 2024
Horizon Surgical Systems Inc., a micro-robotics company advancing microsurgery with AI-enabled robotics, has closed a $30M Series A financing. The round was led by ExSight Ventures and a major corporate investor, with participation from Main Street Advisors and UC Investments.
SCIO Automation acquired CEC Controls Co., Aug. 15, 2024
CEC Controls Company Inc., a Warren, Michigan-based subsidiary of UK-based John Wood Group, has been acquired by SCIO Automation GmbH. As a leading controls system integrator in the automotive sector, CEC Controls also expanded into markets like water and wastewater, industrial manufacturing, pharmaceuticals and food and beverage. The acquisition enhances SCIO’s North American presence and strengthens its discrete automation segment.
ONLINE extra: 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. Learn more at www.bundygroup.com or by contacting Clint Bundy.
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].
Control Engineering provides more information about automation and industries applying automation.
See the September automation mergers and acquisitions article.
