In this article for Plant Engineering Magazine, Bundy Group provides an update on mergers & acquisitions and capital placement activity for companies that address the manufacturing and plant management fields.
Bundy Group recently represented Bob Zeigenfuse in a sale of Avanceon to Vinci Energies. Founded in 1984, Avanceon is an automation solutions and systems integration firm that works with clients across a variety of end-markets, including infrastructure, food & beverage, pharma, data centers and chemicals. Zeigenfuse was a long-time relationship of Bundy Group’s, and he retained our firm to market the business to a pool of quality buyers that have a seasoned acquisition track record in the automation sector. Vinci Energies submitted a preemptive offer worthy of our client pausing marketing efforts and moving forward with this strategic buyer.
Zeigenfuse offered insights related to the sale of Avanceon highlighted below.
Bundy Group: As your investment banking advisor, I know that you had a lot of buyer options to consider. Why did you select VINCI Energies as the buyer for your firm?
Bob Zeigenfuse: There are certainly a lot of great buyer options out there! My foremost consideration was my beloved associates at Avanceon. The key criteria I had for my associates in a transaction included:
My needs were straightforward:
At the conclusion of the transaction, I can say with confidence that Vinci Energies fulfilled all of my above expectations.
Bundy Group: What advice would you give owners in the Automation market as they contemplate how to build value in their business?
Bob Zeigenfuse: Build value that buyers want! There are several key components that make up this business value:
Bundy Group: I’m a believer in the advisory, or deal, team that is there to support an owner in the run up to, and then through, a sale process. Who was critical to you from an advisory standpoint and why?
Zeigenfuse: There are several key players for an owner to have in his corner in a transaction:
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