Plant engineering, manufacturing M&A: March 2024

Bundy Group reported seven automation transactions in the month of March. Analysis on the acquisitions and reports are highlighted below.

By Clint Bundy March 25, 2024
Courtesy: CFE Media and Technology

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.

March 2024 automation transactions

3/11/24

Walter has acquired PushCorp, Inc., a USA-based, industry-leading manufacturer of robotic end-of-arm-tools for material removal applications, marking a significant stride in its quest to become the leader in productivity solutions for the metalworking industry. This strategic move underscores Walter’s dedication to expanding its capabilities and offerings, ensuring it remains at the forefront of technological advancements within the sector. Learn more.

3/5/24

IPS, a North American leader in the service, engineering, and remanufacturing of electrical, mechanical, and power management assets, has acquired Electric Motor Service Limited. Headquartered in Edmonton, Alberta, EMSL has sold and serviced industrial electric motors and generators in western Canada since 1945. An EASA member, the company also sells, services, and remanufactures industrial and residential water and wastewater pumps. Learn more.

2/27/24

ChampionX Corporation has acquired Artificial Lift Performance Limited, a provider of advanced analytics solutions for enhancing oil and gas production performance. Based in Edinburgh, Scotland, ALP has extensive expertise in developing artificial lift optimization software designed to maximize production and extend the life of artificial lift equipment. Learn more.

2/26/24

Kele, Inc., a portfolio company of The Stephens Group, LLC, acquired AC Controls and AC Technical Services, a distributor and rep of industrial process and combustion applications. The acquisition continues to expand Kele’s footprint within the industrial automation market. ACC will become an integral part of the industrial offerings of The Kele Companies, which includes Lesman Instrument Company (Bensenville, IL) and A-tech Inc. (Tulsa, OK). Learn more.

2/23/24

Wesco International has entered into a definitive agreement to sell its Wesco Integrated Supply business to Vallen Distribution, Inc., a portfolio company of Nautic Partners, LLC, for a purchase price of $350 million. The Company expects to use the proceeds to reduce debt and repurchase shares. The sale will include predominately all of Wesco’s industrial maintenance, repair and operations (MRO) integrated supply business in North America and Europe. Learn more.

2/22/24

Levine Leichtman Capital Partners, a Los Angeles-based private equity firm, has acquired USA Water from Warren Equity Partners in partnership with management. Headquartered in Rosenberg, Texas, USA Water is a leading provider of operations and maintenance (“O&M”) services for water and wastewater systems across the Southeast United States. Learn more.

2/27/24

Duravant LLC, a global engineered equipment and automation solutions provider to the food processing, packaging and material handling sectors, has acquired Ferdinand Henneken GmbH, a leading manufacturer of protein processing solutions headquartered in Bad Wünnenberg, Germany. Learn more.

2/22/24

Levine Leichtman Capital Partners, a Los Angeles-based private equity firm, has acquired USA Water from Warren Equity Partners in partnership with management. Headquartered in Rosenberg, Texas, USA Water is a leading provider of operations and maintenance (“O&M”) services for water and wastewater systems across the Southeast United States. Learn more.

2/22/24

Cadre Holdings, Inc., a global leader in the manufacturing and distribution of safety and survivability equipment, has entered into a definitive agreement to acquire Alpha Safety Intermediate, LLC, the operating parent of Alpha Safety, a leading nuclear safety solutions company for $106.5 million (excluding working capital and certain other adjustments upon closing). Learn more.


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