In this article for Control Engineering Magazine, Bundy Group analyzes the 12 reported automation transactions that capped-off 2023 and notes the growth-oriented nature of the market heading into 2024.
The automation market continues 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 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 (i.e. private equity groups, family offices, 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 over the coming months. We look forward to providing these relevant updates and transaction announcements to Control Engineering magazine readers.
12/13/23
Chipotle Mexican Grill is investing in Greenfield Robotics, a company founded with the vision of making regenerative farming more efficient, cost-effective, and sustainable by leveraging the latest advances in AI, robotics, and sensing technologies. Greenfield Robotics provides regenerative agriculture solutions without chemicals. This minority investment is being made through Chipotle’s $50 million CULTIVATE NEXT venture fund. Learn more.
12/13/23
Chipotle Mexican Grill is investing in Nitricity, a company seeking to tackle greenhouse gas emissions by creating fertilizer products that are better for fields, farmers, and the environment. Inspired by the natural occurrence of lightning breaking down nitrogen in the air and rainwater bringing it to the soil as nitrate to create natural fertilizer, Nitricity has pioneered a practice of creating artificial lightning. This minority investment is being made through Chipotle’s $50 million CULTIVATE NEXT venture fund. Learn more.
12/7/23
Dublin-headquartered Invert Robotics has raised a further €2.5 million in investment to help grow its new research and development function in Dublin. The latest round, which is in addition to a previous €10 million investment raised last year, was led by Irish EIIS fund Business Venture Partners and US investor TechNexus Venture Collaborative. Learn more.
12/7/23
BECO Holding Company, an H.I.G. Capital Portfolio Company, has finalized the acquisition of Grease Lock. Developed in 2004, Grease Lock is an innovative product line designed to capture up to 98% of airborne kitchen grease, streamlining hood maintenance and enhancing fire safety in commercial kitchens. Learn more.
12/7/23
BECO Holding Company, an H.I.G. Capital Portfolio Company, has successfully acquired Electronic Supply Company. Headquartered in Mobile, AL, Electronic Supply Company, established in 1956, is a top wholesale distributor of low voltage and security products, offering monitoring station services through seven locations in the Southeastern United States. Learn more.
12/5/23
Siemens has acquired BuntPlanet, a technology company based in San Sebastian, Spain. BuntPlanet’s award winning software has been deployed around the world to support customers with smart metering solutions, water quality, asset management, and integration of hydraulic models and artificial intelligence for detecting leaks and other anomalies in water networks. Learn more.
12/5/23
DwyerOmega, a leading manufacturer and global provider of innovative sensors and instrumentation solutions, acquired Automation Components, Inc., further extending DwyerOmega’s sensor and instrumentation expertise in the building automation and environmental markets. DwyerOmega is a portfolio company of Arcline Investment Management. Learn more.
11/30/23
RLE Technologies, a Fort Collins, CO-based provider of facility environment monitoring, fluid leak detection, and airflow management products, has been acquired by May River Capital, a Midwest-based private equity firm focused on helping high-caliber industrial businesses grow and prosper. Learn more.
11/30/23
DynTek and rSolutions Corporation, a leading provider of professional IT services, cybersecurity, and risk management solutions throughout North America, has acquired Arctiq, a leading Cloud, DevOps, and Automation Solution Integrator. This strategic investment builds upon the merger of DynTek and rSolutions under the Gallant Capital Partners portfolio in August 2023. It highlights the mutual commitment of the companies to broaden their presence in the cloud-based solutions industry and enhance their service offerings for clients. Learn more.
11/28/23
Main Street Capital Corporation completed a new portfolio investment to facilitate the recapitalization of Compass Systems & Sales, LLC, a leading provider of end-to-end material handling systems employing innovative, custom-engineered solutions integrated with traditional conveyance systems. Learn more.
11/22/23
Blackstone, the world’s largest alternative asset manager, announced that private equity funds managed by affiliates of Blackstone have entered into a definitive agreement to acquire Civica, a global leader in public sector software solutions, from Partners Group, a leading global private markets firm, acting on behalf of its clients. Learn more.
11/20/23
ProMach, a global leader in processing and packaging solutions, has acquired Sentry Equipment & Erectors Inc., a prominent North American manufacturer of conveyor and container handling machines. This acquisition enhances ProMach’s product offerings and reinforces its position as a major provider of systems integration solutions in North America. Learn more.
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. You can learn more at www.bundygroup.com or by contacting Clint Bundy.
