The Bundy Group reported 14 automation transactions in its October 2024 summary. Analysis on the acquisitions and reports are highlighted below including transactions with HL Robotics, RDC Control and Salient Motion.
October 2024 merger, acquisition, automation industry insights
- In the October 2024 monthly report to Control Engineering magazine and website, the Bundy Group, which helps with mergers, acquisitions and raising capital, reported 14 transactions.
- Companies included in the Bundy Group October 2024 report include IBM, HL Robotics, RDC Control Salient Motion and others.
- Technologies involved include artificial intelligence, automated assembly, automation analytics, motion controls, sensors, robotics, wide-band wireless and valve actuation.
Bundy Group, an investment bank and advisory firm that specializes in the automation segment, provides an update on mergers & acquisitions and capital placement activity for this industry, including the following report of 14 October 2024 transactions involving HL Robotics, RDC Control Salient Motion and others. Technologies involved include artificial intelligence, automated assembly, automation analytics, motion controls, sensors, robotics, wide-band wireless and valve actuation.
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 nine transactions related to automation, controls or instrumentation during its October summary.
Nordic Semiconductor acquired Novelda, 10/16/2024
Nordic Semiconductor has acquired the Norwegian ultra-wideband wireless technology company Novelda AS for an undisclosed amount. The acquisition is subject to satisfactory due diligence, final board approval and other conditions. Novelda has a strong technology position in ultra-wideband that complements Nordic’s wireless technologies and is currently in an early commercial phase.
Advanced Drainage Systems agreed to acquire Orenco Systems, 8/20/2024
Advanced Drainage Systems, Inc. has signed a definitive agreement for its wholly-owned subsidiary, Infiltrator Water Technologies, to acquire Orenco Systems, Inc. Orenco is a leading manufacturer of advanced on-site septic wastewater treatment products for residential and non-residential markets.
IBM acquired Prescinto, 10/15/2024
IBM has acquired Prescinto, a renewables-focused asset performance management software provider, to strengthen its leadership in the energy and utility sector amid growing demand for solutions to optimize renewable energy assets. Founded in 2016, the India-based company offers APM software as a service that leverages artificial intelligence for advanced monitoring, analytics and automation to enhance the performance and efficiency of clean energy projects.
HL Robotics agreed to acquire Stanley Robotics, 10/14/2024
HL Robotics, a subsidiary of HL Holdings established on Sept. 6, has signed an agreement to acquire Stanley Robotics, the world’s first company to commercialize outdoor valet parking robots. The acquisition is expected to be finalized before the end of the year, pending approval from the authorities. HL Robotics’ swift action has garnered attention and is anticipated to capture a market worth $6.7 billion.
Atwater Capital acquired RDC Control, 9/1/2024
RDC Control has been acquired by Atwater Capital for an undisclosed amount, with the transaction closing on Sept. 1. RDC Control Ltd. is a leading manufacturer of valve actuation solutions and industrial sensors, and this acquisition will support its management team and Atwater Capital, a family-owned investment company focused on long-term value creation.
Apollo Funds acquired Barnes Group, 10/7/2024
Barnes Group Inc., a global provider of highly engineered products and differentiated industrial technologies has been acquired by funds managed by affiliates of Apollo Global Management in an all-cash transaction that values Barnes at an enterprise value of approximately $3.6 billion.
Cantos Ventures provides funding to Salient Motion, 10/1/2024
Salient Motion, an aerospace and defense component supplier, has closed $12 million in total funding, preseed and seed rounds, to transform the design and manufacturing of critical motion control components. The funding was led by Cantos Ventures, with participation from Andreessen Horowitz, AE Ventures, Hummingbird Ventures and BoxGroup.
Motion & Control Enterprises acquired three ParkerStore locations from Motion & Flow Control Products, 10/1/2024
Motion & Control Enterprises has acquired three ParkerStore locations in Williston, North Dakota, Sioux Falls, South Dakota, and Sidney, Montana, from Motion & Flow Control Products Inc. The ParkerStores serve as regional sources for hose, fitting, hydraulics and filtration products and services across North Dakota, South Dakota and eastern Montana.
SureKap LLC acquired AB Technology, 10/1/2024
LFM Capital, a private equity firm focused on lower middle market manufacturing and industrial services businesses, announced that portfolio company SureKap LLC has acquired AB Technology Inc. SureKap provides automated packaging equipment to a variety of industries, including food and beverage, pharmaceuticals, nutraceuticals and cosmetics.
The Rise Companies acquired R&D Specialties, 9/30/2024
The Rise Companies, the investment firm founded by eastern North Carolina investor Harry Smith, has acquired R&D Specialties, a 40-year-old family business based in Odessa, Texas. It’s the first acquisition in the Lone Star State by Rise, which also owns four companies in North Carolina and one in Florida.
Vance Street Capital acquired Pro-Vision, 9/26/2024
Vance Street Capital, a Los Angeles-based private equity firm, has acquired Pro-Vision to support the business and management team during its next chapter of growth. Pro-Vision is a North American provider of video monitoring solutions for the commercial, K-12 transit and public safety markets. The acquisition marks Vance Street’s first platform investment from Vance Street Capital IV LP and leverages the firm’s expertise in industrial technology and critical asset monitoring.
Exor Ventures and MIG Capital provides funding for Inbolt, 9/19/2024
Inbolt, a Paris, France-based robot guidance solutions provider, raised 15 million euros ($16.7 million) in Series A funding. Exor Ventures led the round and was joined by Bpifrance, Yann Fleureau, and existing investors MIG Capital, SOSV and BNP Paribas Développement.
Blackstone acquired Trystar, 7/16/2024
Blackstone announced that private equity funds affiliated with Blackstone have acquired Trystar, a provider of electrical equipment used for backup power solutions. Trystar designs and manufactures critical electrical power solutions for data center, industrial, commercial, health care and utility end markets.
MITAR Private Capital acquired Micromatic, 9/17/2024
Forest Hill Partners LLC, a Chicago-based private equity firm has completed the sale of Micromatic LLC to MITAR Private Capital, an Indianapolis-based private equity firm. Micromatic, headquartered in Berne, Indiana, is a developer, manufacturer, and distributor of rotary vane actuators, waste tippers and automation assembly systems that help customers solve complex automation needs worldwide.
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].
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