Tracked deals
675
675 tracked deals across 2024.
Tracked deals
675
675 tracked deals across 2024.
Buyer mix
Mixed buyer set
495 strategic · 376 pe
Top trend
Volume peaked in 2021
720 tracked deals announced in 2021.
Buyer Snapshot
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| LFM Capital | 6 | Private equity firm focused on lower middle market manufa... | PE |
| Arcline Investment Management | 5 | Growth-oriented private equity firm that builds industria... | PE |
| Main Street Capital Corporation | 5 | Principal investment firm providing long-term debt and eq... | PE |
| ASSA ABLOY | 4 | Global leader in access solutions (doors, locks, entrance... | Strategic |
| CORE Industrial Partners | 4 | Industrials-focused private equity firm investing in Nort... | PE |
| Farragut Capital Partners | 4 | Provider of subordinated debt and preferred equity to low... | PE |
| One Equity Partners | 4 | Middle‑market private equity firm focused on industrial, ... | PE |
| Arsenal Capital Partners | 3 | Private equity firm focused on industrial growth and heal... | PE |
| Blackstone | 3 | Global alternative asset manager investing across private... | PE |
| Calibre Scientific | 3 | Diversified global provider of life-science reagents, too... | Strategic (PE-backed) |
Last 10 years
Supporting Data
POET Technologies completed the acquisition of the remaining 24.8% equity in Super Photonics Xiamen (SPX) from Quanzhou San'an (Sanan) for US$6.5 million (payable over five years) and purchased SPX's production equipment for US$3.8 million. The deal gives POET 100% ownership of SPX, strengthens its ‘China Plus One’ manufacturing footprint and expands production capacity for 800G+ optical engines serving AI and hyperscale data center markets.
Star8 Corp. announced it will merge with Italian EV motorcycle company TOMAHAWK SRL. The merger is intended to provide TOMAHAWK with access to capital markets and new distribution channels across the Americas and beyond, while expanding production and marketing across Europe, the Americas, and Asia.
Meridian Adhesives Group has acquired PAS Bangkok Co., Ltd., a Thailand-based adhesive specialist and distributor, to expand Meridian’s presence across Southeast Asia. PAS Bangkok — which distributes adhesives, sealants, tapes, cleaning chemicals, greases and dispensing/curing equipment to advanced electronics and manufacturing customers — will be integrated into Meridian’s APAC operations to provide localized support and broaden product offerings.
Gamber-Johnson, a Main Street Capital portfolio company based in Stevens Point, Wisconsin, has acquired American Aluminum Accessories, Inc., a Perry, Florida-based specialty aluminum manufacturer serving law enforcement, public safety and fleet markets. Skyway Capital Markets advised the sellers (siblings Thomas Swain and Linda Lawson); Jennifer Arnold will continue to lead the Perry facility as General Manager while the business operates as part of the Team GJ family.
Osceola Capital acquired Bakers' Signs & Manufacturing (closed December 27, 2024) and is combining the business with its platform investment, Texas Republic Signs (TRS). The deal will expand manufacturing capacity, installation resources, and service offerings across Texas while Bakers' president Matt Baker remains with the business.
LindFast Solutions Group (LSG), a portfolio company of Nautic Partners, has completed the acquisition of Big Bolt, a Bloomingdale, Illinois-based manufacturer of specialty fasteners. The add-on acquisition expands LSG's manufacturing capabilities and product offering to better serve distributor customers across North America; Lincoln International acted as exclusive financial advisor to Big Bolt.
PML Sound International—parent of Paradigm, Anthem and MartinLogan—has acquired loudspeaker maker GoldenEar from AudioQuest. GoldenEar will operate as GoldenEar Studio Inc. beginning January 1, 2025 and will be integrated into PML's engineering and manufacturing operations, with a temporary pause in operations during January 2025 to enable integration.
Creators of the Outside World (CROWD) has acquired Armada Mobility B.V., a Dutch provider of street furniture, traveler information systems, bicycle storage and station wayfinding solutions. The deal expands CROWD's product and smart-city service offerings and reinforces its strategy to grow via buy-and-build while enhancing circularity and long-term maintenance capabilities.
ASSA ABLOY has acquired Norshield Security Products, a U.S.-based manufacturer of certified ballistic, attack- and blast-resistant openings and enclosures, based in Montgomery, Alabama. The acquisition, from the Spell Family Office/Spell Capital Partners, expands ASSA ABLOY's high-security product portfolio and is expected to be accretive to earnings immediately.
Saothair Capital Partners has acquired a majority equity stake in T BAILEY, LLC, a vertically integrated manufacturer of above-ground industrial tanks, pressure vessels, marine pontoons and other large custom steel solutions based in Anacortes, Washington. Founder and CEO Gene Tanaka will remain in a meaningful ownership position and continue to lead the business; financing was provided by Polen Capital and legal/financial advisors included McGuireWoods, Holland & Hart and TM Capital.
Chroma Color Corporation acquired Spectra Color, Inc., a Corona, California-based custom manufacturer of colorants, masterbatch and pre-colored resin compounds. The deal expands Chroma Color's West Coast manufacturing footprint and enhances its colorant and resin capabilities to better serve medical, healthcare, agriculture and consumer end-markets.
An affiliate of Balmoral Funds LLC has acquired R.H. Sheppard Co., Inc. from Bendix Commercial Vehicle Systems LLC (a North American subsidiary of Knorr-Bremse). The transaction establishes Sheppard as an independent, PE-backed platform focused on steering technologies for Class 5-8 trucks, with management and operational investment planned to drive growth and innovation.
The Riverside Company, via an affiliated European fund, has acquired a controlling stake in Essential Compositions, a Gandía, Spain-based developer and manufacturer of fragrances. Riverside will support the company's commercial and R&D expansion, pursue a buy-and-build strategy in the specialty ingredients/fragrance space, and the Catalá family will reinvest alongside Riverside.
An affiliate of Peak Rock Capital has completed the acquisition of Traffic and Parking Control Co. (TAPCO), a Brown Deer, Wisconsin-based manufacturer of intelligent transportation systems and traffic safety products. Peak Rock said it will invest in product, service and operational capabilities to accelerate growth and pursue accretive acquisitions while supporting TAPCO's leadership and employees.
Gladstone Investment Corporation (NASDAQ:GAIN) acquired Nielsen-Kellerman, Inc. on December 19, 2024, providing both equity capital and senior secured debt to complete the transaction. Nielsen-Kellerman, a Boothwyn, Pennsylvania-based designer and manufacturer of rugged environmental measurement and sports performance instruments, will leverage Gladstone's resources to expand market reach and enhance product offerings.
L Squared Capital Partners has acquired Kano Laboratories, the 85-year-old maker of Kroil penetrating oils and Super Lube synthetic lubricants, from Gryphon Investors. The transaction — led by L Squared's Fund IV with co-investment from select limited partners and participation from Kano's executive leadership team — positions Kano as a platform for add-on acquisitions targeted at specialty chemical and industrial MRO businesses.
The ICAPE Group has acquired 100% of ALR Services Ltd., a UK-based printed circuit board (PCB) distributor. The acquisition gives ICAPE a direct footprint in the United Kingdom, adds a portfolio of ~300 EMS and OEM customers and expected 2024 revenue of ~£2.5m; the deal was financed in cash and will be consolidated from January 1, 2025.
MultiTech Industries, a portfolio company of Argonaut Private Equity, has acquired Sandin Manufacturing in a strategic add-on transaction. Dresner Partners served as sell-side advisor; the acquisition expands MultiTech’s manufacturing footprint and capabilities in wire rope, cable and coated metal products.
Los Angeles-based private equity firm Vance Street Capital has partnered with Fumex Air Filtration Systems, a Kennesaw, Georgia-based designer and manufacturer of industrial fume extraction and air filtration solutions. Fumex CEO Kevin East is reinvesting and will remain in place; Vance Street plans to support product development, organic growth and pursue strategic M&A opportunities to expand the business.
Laser Photonics Corporation (NASDAQ: LASE) acquired Control Micro Systems, Inc. (CMS) for approximately $1.05 million ($950,000 cash and $100,000 in common stock). The acquisition expands Laser Photonics' engineering capabilities and entry into the pharmaceutical market, with CMS bringing precision laser drilling systems and a revenue backlog of over $3.7 million.
Power Grid Components (PGC), a Blackstone portfolio company, has acquired Elliott Industries, a custom manufacturer of electrical equipment based in Bossier City, Louisiana. The acquisition is an add-on to PGC's power distribution portfolio and will preserve the Elliott brand while leveraging PGC's resources to drive growth and product innovation.
ASSA ABLOY has acquired Roger Sp. z o.o. sp.k., a Polish manufacturer of on‑premise electronic access control systems and related hardware. Roger, founded in 1991 and headquartered in Gościszewo, Poland, has about 100 employees and reported 2023 sales of ~MPLN 42 (approx. MSEK 110); ASSA ABLOY says the deal is accretive to EPS and expands its product portfolio.
The Vomela Companies has acquired the business of Color Reflections of Las Vegas to operate as part of Vomela’s Fusion Imaging Group. The add-on expands Vomela’s geographic presence and production/support capabilities in the events, tradeshow and retail graphics markets.
CPM Holdings, Inc. (CPM) has acquired Jacobs Global, a supplier of aftermarket parts for hammermills and pellet mills. The deal expands CPM's product portfolio and capacity to better serve customers across the animal feed, oilseed and biomass/pellet markets.
Carey International Group (CIG) acquired CSM, a solar panel manufacturing business, after raising new equity in May 2024 that funded the purchase. The acquisition is part of CIG's broader strategy to build a US-based solar manufacturing capability to support its utility-scale and renewables pipeline.
Nordifa AB, a Swedish manufacturer of technical textiles, has acquired Sporda Nonwoven after the latter declared bankruptcy on November 18. Nordifa will keep Sporda operating as an independent company under current executives Jonas Rylander and Anna Hallberg, aiming to preserve jobs and pursue long-term synergies in material supply and technical development across markets such as filtration, acoustics and insulation.
MBK Partners, in concert with Young Poong, is pursuing a hostile takeover of Korea Zinc. Korea Zinc has publicly demanded greater transparency around the shareholder/call-option arrangement, while other reporting raises concerns that MBK overpaid for additional shares and used borrowed funds to finance the bid.
Wärtsilä has agreed to divest its Automation, Navigation and Control System (ANCS) business to Swedish investment company Solix Group AB. ANCS— a global provider of marine navigation, automation, sensors and dynamic positioning systems with ~€200m revenue in 2023—will transfer to Solix subject to approvals expected in Q2 2025.
Moss, a global producer of branded-experience graphics and structures, has acquired Stretch Shapes, a Eugene, Oregon-based supplier of tension fabric products used in live events and experiential environments. The deal — executed by Moss (a portfolio company of EagleTree Capital) — strengthens Moss’s production capabilities and west-coast footprint while keeping the Stretch Shapes leadership and team in place.
Funds advised by Triton have signed an agreement to acquire the Bosch Security and Communications Technology product business (BSCT) from the Bosch Group. BSCT—maker of video surveillance, access and intrusion control, and professional communication products (brands include Dynacord, Electro-Voice, RTS, Telex)—has ~4,300 employees, generated more than €1 billion in revenues in FY2023, and the transaction is expected to close by the end of H1 2025 subject to regulatory approvals.
Revolution Sustainable Solutions, LLC has acquired Island Plastics, LLC, a Flint, Michigan-based producer of 100% post-consumer recycled LLDPE/LDPE film-grade resin. The purchase expands Revolution’s mechanical recycling and PCR production capabilities — including plans to leverage its recent FDA Letter of No Objection to offer clear food-grade PCR for flexible food packaging and other end markets.
United Safety & Survivability Corporation has acquired Sweden-based Dafo Vehicle, a developer and manufacturer of environmentally focused fire suppression systems for rolling stock and commercial vehicles. The deal expands United Safety's product capabilities in mobile and special-hazard fire suppression and strengthens its geographic presence in Europe and the global aftermarket.
Virtium, a PE-backed industrial memory and storage solutions provider, has acquired Embedded Artists AB, a Sweden-based developer of system-on-module (SOM), AI accelerator and connectivity modules for Edge AI and industrial applications. The deal expands Virtium's compute, edge AI, connectivity and software capabilities and supports global manufacturing scale via Virtium's U.S. and Vietnam facilities.
DexKo Global Inc., through its AL-KO Vehicle Technology unit, has acquired Cerma Srl, a family-owned Italian manufacturer of high-precision hydraulic valves, manifolds and turned components based in Vezzano sul Crostolo, Emilia-Romagna. The purchase strengthens DexKo/AL‑KO’s hydraulics value chain and expands its product range for off‑highway and industrial end markets; financial terms were not disclosed.
Patriot Capital announced a new growth investment in Libra Industries, an existing portfolio company of CW Industrial Partners, to support the company's next stage of growth. Libra is a U.S.-based systems integrator and outsourced manufacturing partner providing PCBA/EMS, precision machining and metal fabrication to semiconductor, medical, aerospace and industrial OEM markets.
Eagle Materials Inc. has entered into a definitive agreement to acquire Bullskin Stone & Lime, LLC, a pure-play aggregates business serving the Pittsburgh and broader Western Pennsylvania markets. The deal is valued at $152.5 million, subject to post-closing adjustments, and is expected to close within the next 60 days subject to customary conditions.
Precision Roll Solutions, a portfolio company of Guardian Capital Partners, acquired Charlotte-based ARC International on December 9, 2024. The add-on purchase expands PRS's engraving and manufacturing capabilities for the corrugated packaging market, increasing capacity and product offering; terms were not disclosed.
Jennmar, a FalconPoint Partners portfolio company, through its Jennchem subsidiary acquired the Pyro‑Chem line of pre‑mixed fire‑retardant ventilation sealant products from Wright‑Mix Material Solutions, LLC’s Pyro‑Chem division. The asset purchase adds Pyro‑Chem’s product portfolio and manufacturing capabilities to Jennchem, expanding Jennmar’s offering for the underground mining and construction markets.
Los Angeles-based private equity firm Vance Street Capital has partnered with Cleveland-based System Seals, a designer and manufacturer of proprietary sealing solutions. Founder and CEO Arnold von Engelbrechten will retain a meaningful ownership stake and continue to lead the business as Vance Street supports product development, international expansion and targeted M&A.
The Riverside Company has acquired Seatex, a specialty chemical formulator and manufacturer headquartered in Rosenberg, Texas. Comvest Credit Partners acted as administrative agent and sole lender on an $85 million senior secured credit facility to support the acquisition.
Hydraulic Technologies, a Rockford, Illinois-based manufacturer of high-pressure hydraulic tools and a portfolio company of Wynnchurch Capital, has made a growth investment in Hydra-Slide, a Guelph, Ontario-based maker of skidding and hydraulic heavy-lift systems. The transaction is intended to expand Hydraulic Technologies' engineered heavy-lift and skidding product offerings and support Hydra-Slide's next phase of growth.
Aurora Material Solutions, backed by private equity sponsor Nautic Partners, has acquired Lastique International Corporation and will integrate the business into its Sustainable Product Solutions platform. Lastique, a leading recycler and supplier of rigid PVC and other thermoplastic resins, will operate as a standalone segment under Aurora with existing management retained and will expand Aurora's recycled-content and closed-loop capabilities.
Altus Capital Partners, a private equity firm focused on middle-market manufacturing, has acquired Air Innovations, LLC, a North Syracuse, New York-based designer and manufacturer of custom environmental control units (ECUs) serving wine, aerospace, semiconductor, homeland security, and healthcare markets. Financial terms were not disclosed; Air Innovations' management will remain in place and Altus said it will support the company’s growth and end-market diversification.
Salt Creek Capital acquired Sinclair Designs & Engineering, LLC (SDE), a Michigan-based manufacturer of solar panel racking systems, in a transaction completed in February 2024. Founder Kevin Sinclair is transitioning into retirement while CEO Kyle Sinclair remains to lead the business as Salt Creek provides capital and strategic support to drive growth in commercial and residential solar markets.
CenterGate Capital's affiliate has made an investment in Zyloware Corporation, a Port Chester, New York-based provider of eyewear frames founded in 1923. Co-CEOs Jamie and Chris Shyer will remain in leadership as CenterGate partners with management to support growth and enable ownership liquidity.
Funds managed by affiliates of Fortress Investment Group have acquired a majority stake in Infra Pipe Solutions (IPS), a North American manufacturer of HDPE pipes and structures. Wynnchurch Capital exited the company; IPS management retained a minority stake and Fortress plans to invest to expand capacity and capture strong infrastructure demand across water, telecom and mining markets.
Main Street Capital completed a $30.8 million first-lien, senior secured term debt follow-on investment in portfolio company Gamber-Johnson Holdings to support Gamber-Johnson's strategic acquisition of a manufacturer of law enforcement and aftermarket truck accessories. The follow-on represents Main Street's sixth additional investment in Gamber-Johnson since initially partnering with the company's management team in June 2016.
KPS Capital Partners, through a newly formed affiliate, signed a definitive agreement to acquire INEOS Composites from INEOS Enterprises Holdings II Ltd for an estimated ~€1.7 billion. The deal was expected to close in the first half of 2025, and later sources confirm the acquisition closed and the company was renamed Alta Performance Materials.
Blanchon Group has acquired Dr Schutz, the German family-owned specialist in floor renovation, protection and maintenance products, in a deal supported by private equity partners IK Partners and Abenex. The acquisition adds Dr Schutz’s product lines, five main sites and ~90 employees to Blanchon’s network and is intended to accelerate Blanchon’s international expansion and strengthen its flooring capabilities across Europe, particularly in Germany and the DACH region.
Carlisle Fluid Technologies has completed the acquisition of Reinhardt Technik, a German supplier of dosing, mixing and liquid silicone rubber processing systems. The deal expands CFT’s Sealants and Adhesives platform by adding Reinhardt Technik’s bonding, dispensing, potting and process-control capabilities to its global product portfolio.
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