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Latest plant engineering M&A, September 2024: Siemens, Timken, FloWorks

Bundy Group reported 11 automation transactions in its September report on mergers, acquisitions and capital placement activities. Analysis on the acquisitions and reports are highlighted below.

By Clint Bundy October 24, 2024
Courtesy: WTWH Media

Bundy Group, an investment bank and advisory firm that specializes in the automation, industrial technology and plant management sectors, provides an update on mergers and acquisitions (M&A) and capital placement activity, including 11 in its following September 2024 report transactions, including Siemens, FloWorks, Lehman Pipe and Supply, Resa Power and others.

Bundy Group said, “The automation and industrial technology markets continue to experience a tremendous amount of mergers and acquisitions and capital markets activity. Drivers of this activity include the growth-oriented nature of the automation and industrial technology markets, the consolidation opportunities within these industries and the strength of many of the companies operating within them. Furthermore, the automation and industrial technology sectors have attracted a critical mass of strategic buyers and financial sponsors (i.e., private equity groups, family offices, institutional investors) that are looking to own or invest in companies in the industries. From such, Bundy Group closed transactions as Ultimation and Industrial Electric Machinery, our team continues to see strong interest from a range of qualified buyers in the automation, industrial technology and plant management segments. Further evidence of the robust M&A and capital placement activity is provided in the below list of transactions. Bundy Group’s current engagements and owner relationships include control system integration, automated material handling, automation distribution, industrial services, and electrical services.”

September 2024 plant engineering transactions

Bundy Group noted the following 11 transactions and dates related to the automation, industrial technology and plant management sectors for its September summary for Plant Engineering magazine readers.

Siemens will acquire Trayer Engineering Corp., 9/10/2024

Siemens will acquire Trayer Engineering Corp., a California-based specialist in medium-voltage switchgear. Trayer’s weather-resistant padmount and submersible switchgear will enhance Siemens’ Electrification and Automation Business Unit, supporting the trend of undergrounding electrical networks and expanding the market reach of Trayer’s products.

Timken acquired CGI, 9/10/2024

The Timken Co., a global leader in engineered bearings and industrial motion, completed its acquisition of CGI Inc. CGI manufactures precision drive systems for various automation markets, focusing on medical robotics. With around 130 employees, CGI is expected to generate approximately $45 million in sales in 2024.

Platte River Equity acquired Charter Industrial Supply, 9/10/2024

Platte River Equity, a Denver-based private equity firm, announces that its portfolio company, TIPCO Technologies, has acquired Charter Industrial Supply. Established in 2000, Charter, with operations in San Diego and Orange, California, distributes hydraulic and industrial hose and fittings. The acquisition combines TIPCO and Charter’s 34 locations in 16 states, strengthening TIPCO’s position in the hydraulic and industrial hose market, particularly in Southern California.

Shore Capital Partners partnered with Rozel and BCH Safety, 9/10/2024

Shore Capital Partners has formed Guidant Power through strategic partnerships with Rozel and BCH Safety. Based in Chicago, Guidant offers electrical safety, reliability and training services. Rozel, founded in 2010 and based in Ocala, Florida, provides arc flash and NFPA 70 engineering and training services. BCH Safety, a national leader in electrical safety training, expands Guidant’s offerings and forms the foundation of its training business.

Rotunda Capital Partners invested in Lehman Pipe and Supply, 9/5/2024

Rotunda Capital Partners invested in Lehman Pipe and Supply Inc., partnering with existing management. Founded in 1946 and headquartered in Miami, Lehman distributes industrial pipe, valves, and fittings to commercial HVAC and plumbing contractors in South and Southwest Florida, the Caribbean and Latin America.

26North Partners acquired ArchKey Solutions, 9/4/2024

26North Partners LP, a next-generation alternatives platform founded by Josh Harris, acquired ArchKey Solutions. ArchKey is a leading provider of electrical, technological, and specialty systems for enterprise customers across the U.S. This deal marks the first transaction for 26North’s private equity platform.

Houchens Industries acquired H.H. Barnum Co., 9/3/2024

Houchens Industries Inc., a major S Corp employee stock ownership plan in the U.S., has acquired H.H. Barnum Co. Based in Michigan, H.H. Barnum is a leading distributor of automation controls with nearly 300 employees and a customer base of over 5,000 in multiple states. Since its founding in 1946, H.H. Barnum has seen significant growth, particularly under Ken and Ed Koza’s leadership in the late 1980s.

Reynolda acquired Carlton Industrial Solutions, 9/3/2024

Reynolda Equity Partners, in partnership with CEO Chris Trevey and management, acquired Carlton Industrial Solutions. Carlton is a leading provider of calibration, repair and automation services for mission-critical industrial weighing, precision measurement, crane and hoist and safety training solutions. The company serves customers across various regulated end markets, addressing quality, uptime, process control, throughput, safety and variance reduction.

PakEnergy acquired Plow Technologies, 8/20/2024

PakEnergy, a leader in digital transformation and business automation solutions for the energy sector, has acquired Plow Technologies. Known for its OnPing platform, Plow Technologies provides digital automation and cloud/supervisory control and data acquisition (SCADA) software. The acquisition enhances PakEnergy’s software suite, enabling more efficient information flow from the oil field to the back office and among stakeholders.

RESA Power acquired High Voltage Electric Service, 8/19/2024

RESA Power, a leader in electrical testing and transformer services, has announced the acquisition of High Voltage Electric Service Inc. Based in Albany, New York, HVES has been providing electrical testing, commissioning and maintenance services since 1990. This marks RESA Power’s fifth acquisition in 2024, further expanding its footprint in the electrical services market.

FloWorks International acquired Assured Automation, 8/21/2024

FloWorks International LLC, a leading distributor of critical flow control products and a portfolio company of Wynnchurch Capital, acquired Assured Automation LLC. Headquartered in Roselle, New Jersey, Assured Automation distributes valve automation and flow meter products, serving diverse end markets through its e-commerce platforms, assuredautomation.com and flows.com.

Miss the prior report? See Plant engineering: manufacturing M&A: August 2024

Edited by Mark T. Hoske, WTWH Media, mhoske@wtwhmedia.com.


Author Bio: Clint Bundy is managing director, Bundy Group, which helps with mergers, acquisitions and raising capital.