Manufacturing Acquisitions in Arizona

Torginol, a Sheboygan, Wisconsin-based manufacturer of decorative flake, quartz and specialty products for resinous flooring, has completed the acquisition of Chips Unlimited, a Tempe, Arizona-based producer of decorative chip/flake products. The deal (terms not disclosed) expands Torginol's product suite, manufacturing footprint and ability to serve domestic, international and specialty markets with broader product availability and faster lead times.

Okika Devices Corporation has completed the acquisition of Anadigm, Inc., a Mesa, Arizona–based fabless semiconductor company known for Field Programmable Analog Array (FPAA) technology. Okika will assume Anadigm's products, operations and support and aims to advance and commercialize FPAA integrated circuits and associated design tools to expand its analog IC capabilities.

Ubiqconn Technology (USA) Inc. has acquired E3 Displays to strengthen its North American presence and expand its portfolio of rugged, high-performance display solutions. E3 Displays will continue to operate independently while leveraging Ubiqconn's global resources to accelerate product innovation and serve defense, medical, industrial, and transportation end markets.

An affiliate of private equity firm American Pacific Group has made a strategic investment in ServerLIFT, a Phoenix-based manufacturer of material handling and lifting equipment for data centers. The investment is being done in partnership with Ray and David Zuckerman and will support accelerated growth, expanded manufacturing capabilities, and next-generation product development.

Pursuit Aerospace has completed the acquisitions of Prescott Precision Die, Inc. (Arizona) and Merc Aerospace, Ltd. (United Kingdom) to broaden its precision machining capabilities and expand its geographic footprint in the Southwestern U.S. and the U.K. The deals add heat-treatment, nondestructive testing, CMM inspection and plating capabilities to Pursuit's global aircraft engine component manufacturing platform.

Singapore-based Sunningdale Tech Ltd. has acquired Proactive Plastics, LLC, a Phoenix, Arizona injection molding company founded in 2021. The acquisition supports Sunningdale's North American expansion and adds engineering and tooling capabilities while ensuring continuity for Proactive's employees and multinational industrial and transportation customers.

MEIDOH Co., Ltd., a Japan-based fastener manufacturer, has acquired Pilgrim Screw Corporation d/b/a Pilgrim Aerospace Fasteners, a Chandler, Arizona-based maker of screws, bolts, rivets and clevis pins for the aerospace market. Pilgrim will continue to be led by its existing management and MEIDOH intends to grow Pilgrim's operations in Chandler to diversify into the aerospace fastener market.

Stance Healthcare, a Canadian manufacturer of healthcare furniture, has agreed to acquire Plural Studios, an Arizona-based maker of adaptive furniture for healthcare, corporate and hospitality settings. The deal, announced Nov. 16, 2023, will expand Stance's U.S. presence and broaden its design portfolio; Plural will continue to operate independently from Scottsdale with its existing leadership.

A. O. Smith Corporation acquired Water Tec of Tucson, a family-owned water treatment equipment manufacturer and dealer based in Tucson, Arizona, in an all-cash transaction; terms were not disclosed. Water Tec will join A. O. Smith’s North America Water Treatment business to expand the company's West Coast presence, and members of the DeGrave family will remain with the business operating out of Tucson and Las Vegas.

TJC-backed Allure Beauty Concepts—formed by integrating Allure Labs and Kleen Concepts—was launched to create a scaled R&D and manufacturing platform for personal care brands. The transaction brings Kleen Concepts into the new platform to expand formulation, complex manufacturing and supply-chain capabilities and accelerate growth for OTC and non‑OTC beauty customers.

Tesseract Medical Research has acquired the tolling & operations business of Pulse Combustion Systems (PCS), transferring PCS’s spray-drying contract manufacturing capabilities to Tesseract. The deal allows Tesseract to control tolling capacity for its nutraceutical and pharmaceutical formulations while enabling Pulse to focus on designing and manufacturing its proprietary spray-drying equipment.

The Middleby Corporation (NASDAQ: MIDD) has acquired TERRY Water Treatment Solutions, a Chandler, Arizona–based provider of Citryne®, an environmentally friendly, chemical-free formulation that prevents and removes scale in commercial foodservice equipment. Middleby said the acquisition will allow it to expand the availability of the Citryne solution across its product portfolio and customer channels to improve equipment performance and reduce maintenance.

Boise, Idaho-based Blount Entities has acquired SunTower Machine Company, a Tempe, Arizona-based manufacturer of industrial machinery and parts. The acquisition positions Blount Entities to expand its product line and global reach by leveraging SunTower’s engineering capabilities and existing customer base in mineral testing and industrial markets.

Marucci Sports, a subsidiary of Compass Diversified (CODI), has acquired Baum Enterprises LLC (Baum Bat), a designer and manufacturer of composite wood baseball bats. The deal expands Marucci's wood-bat product lineup and bolsters its composite bat technology; terms were not disclosed.

CECO Environmental Corp. has completed the acquisition of industrial flow control leader General Rubber (GRC) and integrated the business into its Effox‑Flextor‑Mader (EFM) joint venture with Chartwell Investments (Chief Capital). The acquisition expands CECO's product offering into rubber expansion joints and increases its addressable market to approximately $500 million while improving short-cycle sales and expected accretion to earnings and cash flow.

Amtech Systems, Inc. acquired Entrepix, Inc., a provider of chemical mechanical polishing (CMP) technology and wafer cleaning equipment, in a reverse triangular merger that closed on January 17, 2023 for $35 million. The acquisition adds Entrepix's CMP technology, remanufacturing capabilities and wafer cleaning products to Amtech's substrate processing and wet chemical offerings to accelerate growth in front-end wafer processing, including silicon carbide applications.

Fogco, a Chandler, Arizona manufacturer of high-pressure fog and misting systems, has acquired Snap-Fan Solar National Air Propulsion, a maker of energy-efficient and solar-powered ventilation equipment for commercial, residential and horticulture markets. The acquisition expands Fogco's product capabilities in ventilation and horticulture-focused airflow solutions and brings Snap-Fan's founder Lucien Eddisford into the Fogco team.

MSouth Equity Partners, an Atlanta-based private equity firm, has acquired Sunbelt Modular, a Phoenix-based manufacturer of commercial modular buildings, as its new controlling equity investor. Sunbelt will continue to be led by CEO Ron Procunier and will operate its seven regional brands while MSouth supports the company's growth and potential platform expansion.

TruArc Partners, a New York–based private equity firm, acquired Molded Devices, Inc., a Tempe, Arizona–headquartered manufacturer of precision plastic and rubber components, from PNC Mezzanine Capital and founder Brian Anderson. TruArc said the acquisition supports its specialty manufacturing strategy and will help deepen Molded Devices' capabilities and exposure to the medical OEM market.

Atlanta-based private equity firm Crown Capital Investments has acquired Aero Mist, Inc., a Phoenix-based manufacturer and distributor of high-pressure misting and fogging systems. The deal adds Aero Mist to Crown's industrial technologies portfolio and aims to support growth and integration with Crown's existing manufacturing and distribution platform.

Iconex, a leading provider of paper receipt and label solutions, acquired Liberty Greenleaf, a Phoenix-based manufacturer of point-of-sale (POS) and industrial packaging paper products. Elm Creek Partners, the private equity owner, exited the business in the sale; financial terms were not disclosed. The deal expands Iconex's paper receipt manufacturing footprint, supply security and product range across the U.S. and internationally.

Vopne Capital has made an equity investment in Radio Design Labs (RDL), a Prescott, Arizona-based manufacturer of professional audio, video and control modules. Founder and President Joel Bump will remain with the company as Vopne partners with management to support RDL’s next phase of growth and operational expansion.

ZXP Technologies, a Houston-based lubricants manufacturer and portfolio company of Milton Street Capital, has acquired Maverick Performance Products to broaden its finished-lubricant offerings and strengthen vertical integration. The deal gives ZXP immediate access to new end markets and private-label programs while improving supply-chain flexibility and growth potential.

Vitec Imaging Solutions, a division of The Vitec Group plc, agreed on 16 November 2021 to acquire Savage Universal Corp, a manufacturer of photographic backgrounds based in the Phoenix area, with the deal expected to close by the end of November 2021. The acquisition brings Savage’s background and backdrop manufacturing capabilities into Vitec’s portfolio of imaging accessories to expand product offerings for professional photographers, content creators and vloggers.

Dallas-based private equity firm Baymark Partners has acquired Brilliance LED, LLC, a Carefree, Arizona manufacturer of LED landscape lamps and fixtures. Brookside Capital Partners provided subordinated debt and an equity co-investment to facilitate the transaction; Brilliance sells over 500 SKUs to more than 200 distributors nationwide.

Hermetic Solutions Group (HSG), a Windjammer Capital portfolio company, has acquired FilConn, Inc., a manufacturer of high-reliability specialty connectors for aerospace, military, medical, transit and energy markets. The add-on expands HSG's Specialty Interconnect Solutions platform and broadens its engineered connector and EMP suppression product offering; terms were not disclosed.

nVent Electric plc has acquired CIS Global LLC, a provider of intelligent rack power distribution units and server rack slides, for approximately $200 million in cash. The acquisition strengthens nVent's data center power and thermal management capabilities and expands its global manufacturing footprint; CIS Global is headquartered in Tucson, Arizona and employs about 850 people worldwide.

Montreal-based e2ip technologies acquired Arizona-based Serious Integrated, Inc., a provider of industrial, medical and commercial touch-screen HMI and IIoT solutions. The deal brings Serious' embedded systems, LCD and touch-screen expertise into e2ip's Smart Surface and HMI product and manufacturing platform to accelerate capability development and global scaling.

Cargill has entered into an agreement to acquire Floratech, a Chandler, Arizona–based maker of natural emollients and botanical derivatives for the beauty and personal care industry. The deal expands Cargill’s Cargill Beauty capabilities by adding Floratech’s specialty ingredient portfolio and R&D/manufacturing expertise to accelerate nature-derived, sustainable solutions for cosmetics customers worldwide.

ARCH Global Precision, a Jordan Company platform, has acquired Morsch Machine, a precision machining firm based in Chandler, Arizona. The acquisition adds 3-, 4- and 5-axis machining, structural adhesive bonded assembly, 3D printing and assembly capabilities to ARCH’s Precision Components segment and expands capacity for mid- to high-volume aerospace, defense and space work.

KICTeam, a proprietary cleaning-consumables platform owned by private investment firm Inverness Graham, has acquired Teknipure, a Mesa, Arizona-based developer and manufacturer of cleanroom contamination-control consumables. The add-on expands KICTeam's addressable markets into biopharmaceuticals, medical devices and advanced manufacturing, and will allow investment in U.S.-based capacity to support increased demand; terms were not disclosed.

ARCH Global Precision, LLC has acquired Cling's Aerospace, LLC, adding Cling's precision machining, tubing and weldment capabilities to ARCH’s Precision Components segment. The acquisition expands ARCH’s aerospace and defense manufacturing capabilities and broadens its footprint in the Phoenix (Tempe/Mesa) area; former owner Doug Cling will remain to run the business post-closing.

CORE Industrial Partners, a Chicago-based private equity firm, completed an investment in Arizona Natural Resources (ANR), a Phoenix-based contract manufacturer of personal care products specializing in haircare and skincare. CORE said it will partner with ANR’s management to pursue strategic add-on acquisitions and expand the company’s product offering and geographic presence; ANR operates a 132,000 sq. ft., FDA-registered cGMP facility with 23 production lines.

IDEX Corporation has entered into a definitive agreement to acquire Flow Management Devices, LLC (Flow MD) for $125 million in cash, before closing adjustments. Flow MD, a Phoenix-based maker of small-volume provers used for custody transfer accuracy in the oil and gas industry, has approximately $60 million in annual sales and will join IDEX's energy group.

3SI Security Systems has acquired CovertTrack, an Arizona-based developer of GPS tracking and covert surveillance equipment and services for law enforcement. The acquisition strengthens 3SI’s law enforcement division by adding CovertTrack’s technical surveillance products, customer relationships, and engineering capabilities to 3SI’s asset-protection and GPS tracking offerings.

Nielsen-Kellerman Co., a Clearview Capital-backed portfolio company, has completed the add-on acquisition of Ambient Weather, a Chandler, Arizona-based designer and marketer of weather stations and a cloud-based weather platform. The deal (closed December 6, 2019) adds fixed weather station hardware and a feature-rich cloud dashboard (API, IFTTT, Amazon Alexa and Google Home integrations) to NK's Kestrel instrument product suite to expand product capabilities and address both consumer and professional markets.

Hunt Valve Company, a portfolio company of May River Capital, has completed the acquisition of Pima Valve, a Chandler, Arizona-based supplier of severe-duty bronze marine valves. The add-on expands Hunt Valve's product offering and access to U.S. Navy and commercial shipyards, supporting the company's role in the Navy supply chain.

Signet LLC has acquired Arizona-based Roswell Bookbinding to expand its graphic arts/post-press capabilities and extend its footprint into the Southwest. Signet will retain Roswell’s brand and team, including president Mike Roswell, and add specialized restoration, prototype and luxury packaging capabilities to its portfolio.

Aterian Investment Partners has acquired Bright International Corporation, the largest U.S. producer of hair bleach products, headquartered in Coolidge, Arizona. Aterian said it will provide capital and operational resources to expand Bright's R&D, manufacturing and product offerings and intends to use the company as a platform for further investments in the consumer, health & beauty and personal care sectors.

TILT Holdings Inc. agreed to acquire Jupiter Research, a vaporization and inhalation hardware company, in a US$210 million transaction (US$70M cash and shares) under a definitive agreement signed January 2, 2019. The deal is intended to expand TILT’s hardware offerings and technology ecosystem for the cannabis supply chain; Jupiter is a 2015-founded vaporizer hardware maker serving 700+ brands with reported ~US$77M 2018 revenue and US$28M in booked orders going into Q1.

Bourns, Inc. has acquired certain assets and the ongoing operations of Transtek Magnetics, Inc., a Tucson-headquartered maker of custom transformers, inductors and coils with manufacturing in Dongguan, China. The acquisition expands Bourns' product offering into high-frequency and high-power magnetic components for end markets including automotive, solar power and consumer electronics.

Dallas-based private equity firm Elm Creek Partners, with majority equity provided by Henrikson & Graul Capital Partners (HGCP), has acquired Liberty Paper Products, a Phoenix-based specialty converter and distributor of thermal paper. Founder and CEO Mike Rapier remains in his role and rolled a portion of his proceeds into the new ownership; lenders on the transaction included Marquette Business Credit and subordinated debt from Medallion Capital.

Standard Microsystems Corporation (SMSC) agreed to acquire Gain Technology Corporation in a transaction valued at approximately $34 million, payable in cash and SMSC stock with potential additional contingent payments. The acquisition brings Gain’s analog and mixed-signal IC expertise (including the GT3200 USB 2.0 PHY) and ~35 analog engineers to SMSC to expand its USB 2.0 product offering and accelerate SoC/serial I/O capability; SMSC expected the deal to add roughly $20 million of revenue in fiscal 2004.