Plant engineering, manufacturing M&A: September 2023

September 29, 2023

In this article of Plant Engineering Magazine, Bundy Group showcases various mergers and acquisitions in the industrial technologies and services market for the month of September.

While numerous industries are witnessing a lower volume of closed mergers and acquisitions transactions due to higher interest rates and other macroeconomic challenges, the industrial technology and services M&A market shows no loss in momentum.  From a recently closed transaction (Bundy Group represented Ultimation in a sale to MCE), our team continues to see strong interest from a range of strategic buyers and financial sponsors in the industrial technology and services segment.

Further evidence of the strong M&A activity in markets relevant to Plant Engineering readers is provided by the below list of transactions. Business sales to note include DRT Holdings’ acquisition of Custom Machining Corporation, Pfingsten’s acquisition of Pacific Lasertec, AMETEK’s acquisition of United Electronic Industries and KGM’s acquisition of Bartlett Controls. Bundy Group anticipates several other 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.

September 2023 automation transactions


Valstone Corporation Inc. an international software and technology solutions provider for the industrial vertical, acquired Matrix Industrial Control System, a pioneer in the food industry, based in Brampton, Ontario, Canada since 1977. This acquisition fortifies Valstone’s strategic entry into the Food & Beverage industry. Learn more.


Machinery Services Co. and Rapid Pump & Meter Service Co. a Hidden Harbor Capital Partners portfolio company and leading provider of maintenance, repair, and installation services to water facilities and critical infrastructure, acquired Delta-Electro Power, Inc. The acquisition expands Rapid Pump’s geographic footprint into Rhode Island and Massachusetts and further expands its service capabilities. Learn more.


Robinson Engineering, Inc. has merged with Jewett Automation of Richmond, further enhancing our ability to provide comprehensive automation solutions. This strategic partnership strengthens our position in delivering turn-key automation solutions, with a focus on improving efficiency and effectiveness in your assembly and packaging operations. Learn more.


DRT Holdings, LLC, which provides specialized manufacturing solutions to the metal packaging, aerospace, and precision industrial segments, has acquired Custom Machining Corporation. CMC is a leading provider of high-speed, high-precision liner systems and parts for metal packaging applications serving the end markets for food, beverage and household products. Learn more.


Barcoding, Inc., the leader in efficiency, accuracy, and connectivity, has joined Graham Partners, a private investment firm investing in technology-driven companies that are spurring innovation in advanced manufacturing. Learn more.


BARTEC acquired the British IIoT specialist Extronics. The company is a leading global developer and manufacturer of connectivity and IIoT infrastructure as well as asset and people tracking systems for hazardous areas. Learn more.


Pfingsten acquired, Pacific Lasertec, a manufacturer of specialty lasers and related power supplies. Headquartered in San Marcos, CA, with an additional manufacturing facility in Colorado Springs, CO, PLT’s products support critical applications across medical diagnostics, semiconductor, scientific research and development, advanced manufacturing and life sciences end markets. Learn more.


AMETEK, Inc. acquired United Electronic Industries (UEI), a leading provider of data acquisition and control solutions for the aerospace, defense, energy and semiconductor industries. UEI specializes in the design and manufacture of high-performance test, measurement, simulation and control solutions that enable customers to build smart, reliable, flexible and rugged systems. Learn more.


KGM, a prominent distributor specializing in regulators, valves, and measuring equipment for residential and commercial utility companies, has been on a remarkable growth journey since joining forces with Compass Group in 2021. Their recent expansion has led to the acquisition of Bartlett Controls, based in North Carolina, further broadening their presence across the United States. Learn more.


IFS, the global cloud enterprise software company, acquired Falkonry, Inc. a California-based Industrial AI software company that provides automated, high-speed data analysis to the manufacturing and defense industries. Learn more.


CKC Automation was acquired by Depatie Fluid Power Co. and subsequently merged with DST Controls Inc., both California-based automation firms. DST Controls, headquartered in the San Francisco Bay Area, has a nearly 50-year history of providing automation and industrial controls services to a wide range of customers, from large manufacturers to startups. Learn more.


One Rock Capital Partners, LLC, a value-oriented, operationally focused private equity firm, has entered into a definitive agreement to sell BRWS Parent LLC and its related subsidiaries “CentroMotion,” a leading designer and manufacturer of highly engineered systems and solutions for industrial and transportation applications across the globe, to affiliates of Lone Star Funds. Learn more.

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