Plant engineering, manufacturing M&A: August 2023

September 5, 2023

In this article for Plant Engineering Magazine, Bundy Group highlights key transactions in the automation industry as the sector preps for the final quarter of the year.

The mergers & acquisitions and capital markets for the industrial technology and services markets show no signs of a slowdown as we progress through the back half of the year. Bundy Group successfully closed yet another transaction in the industrial technology and material handling sectors, as Ultimation was sold to Motion & Control Enterprises, a strategic buyer backed by Frontenac.

The sale process was representative of the heightened demand for acquisitions in the industrial technology sector, as Bundy Group generated numerous offers on behalf of our client. Furthermore, the outcome far surpassed original seller expectations, and the management team has a strong partner in MCE to help accelerate growth.

Learn more here about the transaction.

In addition to the Ultimation transaction, Bundy Group represented Metal Tech, an industrial equipment repair and services firm, in a sale to Keswick Partners, an investment firm.

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 readers.

August 2023 automation transactions


Atlas Copco has agreed to acquire Sykes Group Pty Ltd. from Seven Group Holdings Ltd., a company listed on the Australian Securities Exchange. Sykes is a global manufacturer of dewatering pumps, predominantly used for transferring water with solids and abrasive nature within the mining and wastewater sectors. Learn more.


Motion & Control Enterprises has acquired Ultimation Industries LLC, its fourth acquisition of 2023. Headquartered in Roseville, MI, Ultimation provides highly engineered automation and material handling solutions as well as quick-ship distribution of material handling equipment products offered through a robust e-commerce platform to customers across the U.S., Latin America, and Europe. Learn more.


Keswick Partners, an industrials and specialty services-focused investment firm, recapitalized Metal Tech of Murfreesboro.  Metal Tech provides equipment maintenance and repair services to a diverse set of end markets, including pulp and paper, steel, chemicals, signing, food and beverage, infrastructure, and other general manufacturing industries. Learn more.


Benford Capital Partners had acquired BSC Industries, Inc. in partnership with brothers Jim and Peter Fitzpatrick, who have owned and led the Company for over 30 years. The acquisition of BSC represents the third platform investment in Benford Capital Partners II, LP. Learn more.


Clark-Reliance has acquired John C. Ernst & Co., Inc, a leader in the manufacture and distribution of engineered measurement solutions and process observation equipment for liquid and steam applications. John C. Ernst, headquartered in Sparta, New Jersey, manufactures and distributes sight flow indicators, sight windows, liquid level gauges and flow meter products used by customers in demanding applications across a broad range of end markets. Learn more.


HC Private Investments, a Chicago-based family office private equity firm, successfully acquired QEI, Inc. in partnership with the Company’s former owner and CEO, Normand Lavoie. Headquartered in Springfield, NJ, QEI offers automation products, SCADA software solutions, distribution management systems and related services to its customers in the mass transit, utility and water/wastewater industries. Learn more.


Parsec Automation Corp, a trailblazer in Manufacturing Operations Management (MOM) software, announced a major recapitalization led by BVP Forge, designed to fuel future growth. Parsec forms dynamic partnerships with manufacturing entities worldwide, sparking pivotal transformations to boost efficiency and drive their ongoing enhancement goals. Learn more.

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