Plant engineering, manufacturing M&A: October 2023

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

By Bundy Group October 26, 2023
Courtesy: Bundy Group

Bundy Group, an investment bank and advisory firm, provides an update on mergers & acquisitions and capital placement activity for companies that address the automation, industrial technology, manufacturing and plant management fields.

The automation, industrial technology and services M&A market shows no loss in momentum in 2023.  From recently closed Bundy Group transactions (Ultimation; Avanceon; Metal Tech), our team continues to see strong interest from a range of strategic buyers and financial sponsors in the industrial technology and services segments. Further evidence of the strong M&A activity in markets relevant to Plant Engineering readers is provided by the below list of transactions.

Recent transactions to note include Addtronics’ acquisition of Sirius Automation, MCE’s acquisition of Nova Hydraulics, INNIO Group’s acquisition of Western Energy Systems, and Bain Capital’s acquisition of Harrington Process Solutions. Bundy Group anticipates several other automation, industrial technology and services transactions to be completed before the end of the year, and we will keep Plant Engineering readers posted.

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.

Bundy Group reported six automation transactions in the month of October.

Bundy Group reported six automation transactions in the month of October. Courtesy: Bundy Group

October 2023 automation transactions


Addtronics, LLC, a mission-driven holding company dedicated to acquiring, empowering, and growing leading robotic automation solution providers, has acquired Sirius Automation, a leading developer of laboratory robotic systems for blue-chip biotech and pharmaceutical companies. Learn more.


PULS, technology and market leader in DIN rail power supplies, has acquired the business of wireless charging specialist Wiferion. Wiferion’s leading technology is now enhanced with the capabilities of PULS, a technology-driven company based in Munich, with a revenue of 250 million euros in 2022. Wiferion customers benefit from a global presence in production and application support. Learn more.


Hoskin Scientific has acquired Durham Instruments. Based in Pickering, Ontario, Durham Instruments is a leading supplier of test & measurement instrumentation, data acquisition and control systems. The business offers custom system measurement solutions, including hardware and software integration and on-site technical service. Learn more.


Motion & Control Enterprises has acquired Nova Hydraulics, Inc. its fifth acquisition of 2023. Headquartered in Indianapolis, IN, Nova is an independent hydraulics solutions provider, specializing in the repair, remanufacture and supply of hydraulics parts to end-users, resellers, repair houses and OEMs. Founded in 1951, MCE is a supplier of technical fluid power, automation, flow control, compressed air, process pumps, products, service, and repair solutions. Learn more.


INNIO Group has acquired Northeast-Western Energy Systems (NES-WES) from Penn Power Group, a prominent power systems integrator in the U.S. This acquisition aligns with INNIO’s growth strategy in the U.S., enabling the company to expand its presence and establish a comprehensive nationwide offering for new installations and energy services. Learn more.


Harrington Process Solutions a leading specialty distributor of industrial flow control process solutions, has entered into a definitive agreement to be acquired by Bain Capital Private Equity. Harrington will continue to operate as a standalone company and be led by its current management team. Learn more.

Author Bio: Bundy Group is an industry-focused investment bank and a CFE Media and Technology content partner.