Sandvik Acquires Universal Field Robots

Sandvik Group Acquires DSI Underground from Triton

July 7, 2021

Industrial Services

Sandvik Group has acquired 100% of DSI Underground from funds advised by Triton; the sale was announced December 24, 2020 (purchase price €943 million cash and debt-free) and completed in July 2021. DSI Underground is a global supplier of ground support products and systems for underground mining and tunnelling (present in ~70 countries with over 2,000 employees), and Sandvik said the acquisition is highly complementary and will expand its product, aftermarket and service capabilities.

Sandvik Acquires Verisurf Software Inc.

June 3, 2025

Software

Sandvik AB has completed the acquisition of Verisurf Software Inc., a US-based 3D metrology software solutions provider. Verisurf will be reported as a separate business unit within Sandvik’s Machining and Intelligent Manufacturing business area; the company is headquartered in Anaheim, California with 44 employees and reported ~SEK 130 million (USD 12 million) revenue in 2024.

Balmoral Funds Affiliate Acquires DWFritz Automation from Sandvik AB

September 30, 2024

Manufacturing

An affiliate of Balmoral Funds LLC has acquired DWFritz Automation, LLC from Sandvik AB. Balmoral will partner with industry veterans Michael Pacione, Paul Cihak, Tyler McCoy, and Jason Darley to operate DWF as an independent precision automation and metrology company and invest in technology, commercial expansion, and growth.

Dwyer Instruments Acquires Universal Flow Monitors, Inc.

December 14, 2021

Manufacturing

Dwyer Instruments, a portfolio company of Arcline Investment Management, acquired Universal Flow Monitors, Inc. (UFM), a manufacturer of flow meters and controllers for fluids and gases used in automation, robotics and process automation. The deal adds UFM's ruggedized flow measurement portfolio to Dwyer's sensor and instrumentation offerings to support further growth in niche industrial markets.

American Track Services Acquires Universal Rail Systems; Forms North American Rail Solutions

April 17, 2023

Transportation

American Track Services (a portfolio company of DFW Capital Partners) has acquired Universal Rail Systems, Canada’s largest provider of rail infrastructure inspection, maintenance, repair and construction. The deal creates a new parent, North American Rail Solutions, combining ATS' U.S. footprint with URS' Canadian operations to create a continent-wide rail services platform; URS was sold by an investor group led by TorQuest Partners.

Automation Anywhere Acquires FortressIQ

December 23, 2021

Software

Automation Anywhere has entered into a definitive agreement to acquire FortressIQ, a San Francisco-based process discovery and mining company. The acquisition will integrate FortressIQ’s process intelligence capabilities into Automation Anywhere’s cloud-native Automation 360 platform to accelerate customers’ intelligent automation and digital transformation initiatives.