Plant engineering, manufacturing M&A: July 2024

Bundy Group, an investment bank and advisory firm that specializes in the automation, industrial technology and plant management sectors, provides an update on mergers & acquisitions and capital placement activity for these markets.

The automation and industrial technology markets continue to experience a tremendous amount of mergers & acquisitions (M&A) 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. This serves as a leading indicator for industries our team anticipates closed transactions in over the coming months. We look forward to providing these relevant updates to Plant Engineering magazine readers.

July 2024 automation transactions

7/11/24

Madison River Capital, a lower middle market private equity firm, announced the completion of a $190 million recapitalization of and $70 million equity investment in JDC Power Systems, a leading electrical systems integrator exclusively serving the data center market. This transaction marks MRC’s second investment in the past seven months, following its spin out from the family office of Tony James, the former Executive Vice Chairman of Blackstone. Learn more.

7/9/24

Accenture has acquired True North Solutions, a provider of industrial engineering solutions headquartered in Calgary, Alberta, to help clients produce and transport energy more safely and efficiently. True North Solutions expands Accenture’s expertise in operational technology (OT) for the oil and gas and mining industries. OT comprises the hardware and software systems companies use to run and control physical equipment and facilities, such as pipelines, refineries, plants and mines. Learn more.

7/8/24

Solara Automation, located in Morrisville, NC, near Research Triangle Park, was acquired by AAE, a leading family-owned high-tech machine and module manufacturer based in Helmond, The Netherlands. Solara Automation has been delivering customized industrial automation solutions for over 20 years. Learn more.

6/25/24

Avtron Power Solutions, a Hidden Harbor Capital Partners portfolio company, and a global leader in load bank test solutions, has acquired Rx Monitoring Services, a prominent provider of power quality monitoring services and commissioning tools. This strategic acquisition marks a significant milestone for Avtron, as it strengthens its position in the data center industry and expands load bank testing capabilities with a focus on commissioning automation. Learn more.

6/24/24

Pacteon Group, a leader in end-of-line packaging equipment solutions, announced the successful acquisition of Descon Integrated Conveyor Solutions, a prominent provider of integrated conveyor systems for the food and beverage industry. This strategic move marks a significant milestone in Pacteon’s growth strategy and reaffirms its commitment to product handling expertise. Learn more.

6/20/24

GrayMatter Robotics, an AI-powered robotics leader empowering humans with intelligent automation, announced $45 million in Series B funding. Wellington Management led the round, which also included NGP Capital, Euclidean Capital, Advance Venture Partners, SQN Venture Partners, and other existing investors 3M Ventures, B Capital, Bow Capital, Calibrate Ventures, OCA Ventures and Swift Ventures. Learn more.

6/17/24

Belt Power, LLC, a full-service distributor and fabricator of belting and components for lightweight conveyor systems, has acquired the U.S. assets of Mol Belting Systems. Founded in 1986 and based in Grand Rapids, MI, Mol is a fabricator and distributor of process conveyor belting systems, conveyor accessories and power transmission products. Significant in-house engineering capabilities allow Mol to customize solutions for the most demanding belting applications. Learn more.

6/3/24

Lincoln Electric has acquired Inrotech A/S. Headquartered in Odense, Denmark, Inrotech is a privately held automation system integration and technology firm specializing in automated welding systems that are differentiated by proprietary adaptive intelligence software and computer vision which guides and optimizes the welding process without the need for programming or the use of CAD files. Learn more.

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