Manufacturing Acquisitions in Colorado

Legrand has acquired Kratos Industries, a Colorado-based manufacturer of low-voltage switchboards, medium-voltage switchgear and integrated power systems, to strengthen its critical power offerings for the data center market. In parallel, Legrand participated in Accelsius' Series B to deepen capabilities in two-phase, direct-to-chip liquid cooling for high-density AI data centers.

Highland Rim Capital, a Nashville-based private equity firm, has acquired Xybix Systems, a manufacturer of ergonomic, height-adjustable workstations and control-room furniture for mission-critical environments. SDR Ventures served as Xybix's exclusive sell-side advisor and Fennemore LLP was Xybix's legal advisor; Highland Rim said the investment will support product development and broader market expansion.

HKW’s portfolio company Electric Equipment Engineering (EEE) has completed a strategic merger with Endpoint Industrial Controls, a Loveland, Colorado–based designer and manufacturer of low-voltage electrical products. The combination expands EEE’s product offering and engineered solutions for end markets including data centers, energy and industrial customers, with Endpoint’s leadership team remaining in place.

Graham Corporation (NYSE: GHM) acquired 100% of FlackTek Manufacturing, LLC and FlackTek Sales, LLC for a $35 million base purchase price (85% cash, 15% stock via 75,818 shares) plus up to $25 million of performance‑based earnouts. The acquisition adds advanced materials processing as a third core platform for Graham and keeps FlackTek headquartered in Louisville, Colorado (satellite in Greenville, South Carolina) as a wholly owned subsidiary; FlackTek reported approximately $30 million in annualized revenue.

Alliant Power has acquired Capital Reman Exchange, a Denver-based remanufacturer of Class 8 diesel engines and components, to expand its heavy-duty engine remanufacturing capabilities and provide more end-to-end solutions for service shops, fleets, and dealers across North America. The deal integrates Capital Reman's machine shop and remanufacturing expertise with Alliant Power's OE-critical parts and value-added solutions to offer premium overhaul kits, long blocks built to OE specs, and expanded fuel and air system offerings.

GS Microelectronics US, Inc. (GSME) has acquired Muse Semiconductor, a provider of multi-project wafer (MPW) services that supports university researchers, startups and commercial chip designers. The acquisition expands GSME’s prototyping and low-volume fabrication capabilities and extends its reach into key innovation hubs across North America, Europe and Asia.

CFS Technologies, a portfolio company of Union Park Capital, has acquired Meritech Systems, a Colorado-based manufacturer of automated hygiene and sanitation systems. The acquisition brings Meritech into the CFS platform (which includes Knight Equipment, Lafferty Equipment and Lavo Solutions) and names former Meritech CEO David Duran as CEO of CFS to accelerate growth across food processing and other hygiene-critical industries.

TriggerTech acquired Colorado Springs-based Hawkins Precision in July 2025 to expand its product portfolio in precision rifle accessories and establish a permanent U.S. manufacturing footprint. Hawkins founder Andy Hawkins will remain with the company as Head of Product Development to support product continuity and new product development.

HKW, a middle-market private equity firm, has acquired Electric Equipment & Engineering Co. (EEE), a Denver-based designer and manufacturer of electrical power distribution products serving data centers, telecommunications, broadband and utilities. The company was owned by the third-generation Morroni family prior to the transaction; financial terms were not disclosed and financing was provided by Barings and Siguler Guff.

Dry Fly Capital has completed a majority recapitalization of Serpentix Conveyor Corporation, a Westminster, Colorado-based manufacturer of specialized conveyor systems for wastewater and industrial applications. Tamarix Capital Partners provided debt and equity financing to support the transaction, and Serpentix President and owner Rob Nusz will remain with the company to support growth as Dry Fly builds a wastewater infrastructure platform.

Honeywell completed an all-cash $2.16 billion acquisition of Sundyne from private equity firm Warburg Pincus. The deal adds engineered pumps, integrally geared compressors and aftermarket services to Honeywell's Energy and Sustainability Solutions portfolio, expanding capabilities across refining, petrochemicals, LNG and clean fuels while leveraging Honeywell Forge for integrated offerings.

Provident (a business unit of Anderson & Vreeland, Inc.) and Precision Flexo & Gravure have announced a merger to combine their flexographic and gravure printing capabilities. The combined organization will operate under a unified brand and aims to expand and enhance service offerings, technical support and pressroom capabilities for customers across North America.

D-A Lubricant Company has acquired Crystal Packaging, Inc., a contract blending and packaging firm based in Henderson, Colorado, which will operate as D-A Packaging LLC. The acquisition — completed following Crystal Packaging's Chapter 11 process — adds more than 40 employees, a 70,000+ sq. ft. facility with large bulk blending tanks and ~2 million gallons of storage, expanding D-A's manufacturing capacity and presence in the western U.S.

Industrial Growth Partners (IGP) has acquired SENS Holdings, LLC, a Longmont, Colorado-based designer and manufacturer of battery chargers, integrated power systems and battery monitoring solutions. IGP partnered with SENS management and rollover equity to create a platform to accelerate growth, scale operations and expand the company’s presence across critical-infrastructure end markets such as data centers, hospitals and utilities.

Madison Air has acquired AcoustiFLO, a Denver‑area manufacturer of high‑performance plenum fans and acoustic fan technology, to add aerodynamic efficiency and acoustic performance capabilities to its Air Handling Group (AHG). AcoustiFLO, founded in 1995 and headquartered in Aurora, Colorado, will report to Madison Air's AHG and its technology will be integrated across portfolio air‑handling platforms including FANWALL offerings.

ENVEA, the Carlyle-backed environmental monitoring group, has acquired Droplet Measurement Technologies from Benford Capital Partners. The deal, which closed on October 31, 2024, adds Droplet's high-precision aerosol and cloud-droplet instruments to ENVEA's particulate monitoring platform and expands the group's presence in the United States and research markets.

GM Ventures, the venture arm of General Motors, invested $10 million in Forge Nano to accelerate development and deployment of its Atomic Armor atomic layer deposition coatings for battery cathode materials. The investment includes a strategic partnership to explore using Forge Nano's high-throughput equipment to coat cathode active materials for GM's EV battery cells and supports Forge Nano's expansion of battery-material coating services, equipment sales and prototype cell production.

Giant Bicycles, through its SPIA Cycling subsidiary, acquired Stages Cycling from Foundation Fitness following Stages’ Chapter 11 bankruptcy filing. The purchase includes Stages’ intellectual property, manufacturing facilities, product lines and limited inventory and is intended to strengthen Giant’s indoor and outdoor cycling offerings and expand into the commercial fitness market.

Valens Semiconductor acquired Acroname, a Boulder-based maker of programmable USB hubs, switches and test automation systems, to expand its industrial USB connectivity offering. The deal paid $7.8 million in cash plus Acroname's cash on hand and includes up to $7.2 million of earnouts tied to performance and product milestones.

Brighton Partners, an Atlanta-based private equity firm, has acquired Ray Allen Manufacturing, a leading manufacturer and direct marketer of professional K9 training products, from Benford Capital Partners. The transaction closed on May 24, 2024, with Ray Allen President JD Snowden remaining in place; Benford Capital noted it completed two add-on acquisitions and grew Ray Allen's e-commerce business during its ownership.

CV Sciences, Inc. has completed an equity purchase of Elevated Softgels, LLC, a GMP-certified manufacturer of encapsulated softgels and tinctures, which will operate as a wholly owned subsidiary. The acquisition (up to $1.0M consideration) is intended to in-source production for CV Sciences' +PlusCBD products, increase sales to current and new clients, and leverage Elevated Softgels' low-MOQ and flexible production capabilities to drive cost savings and growth.

Factor89 Group, a specialized private equity firm, has acquired Master Magnetics Inc., a Castle Rock, Colorado-based manufacturer and distributor of magnets and magnetic devices. Master Magnetics will continue operating from its Castle Rock headquarters with CEO Jennifer Brown and existing management remaining in place as Factor89 provides capital and operational resources to scale the business.

Sun Print Solutions of Salt Lake City, Utah has acquired Plumb Marketing, a Denver-based direct mail and commercial printing company. The transaction, arranged by Graphic Arts Advisors, will expand Sun Print Solutions' geographic footprint and capacity — including enhanced political print and mail capabilities — while Plumb Marketing's owners (the Epps) will remain engaged during the transition.

TZP Group has led a majority recapitalization of Head Rush Technologies, partnering with management and existing shareholders; Pike Street Capital completed the sale of its stake. Head Rush, headquartered in Louisville, Colorado, is a global manufacturer of climbing and adventure-safety equipment (notably the TRUBLUE auto belay) and will partner with TZP to fund new product introductions, international expansion and entry into new end markets.

Maysteel Industries, a portfolio company of Littlejohn Capital, acquired Star Precision Manufacturing, a full-service sheet metal fabrication and precision machining firm in Frederick, Colorado. Patriot Capital provided subordinated debt financing in support of the add-on acquisition, which expands Maysteel's manufacturing capabilities and geographic footprint in the Mountain West.

MCM Capital Partners, a micro‑cap private equity firm based in Cleveland, Ohio, has acquired AIM Processing, a custom plastic injection molder headquartered in Longmont, Colorado. AIM's president Jon Gelston retained a significant equity stake and MCM said it will augment AIM's technical molding and automation capabilities with strategic sales and marketing to drive growth; the deal is the second platform investment in MCM Capital Partners IV, L.P.

Pelican Energy Partners (Base Zero LP) acquired Springs ATG from Machine Build Technologies and rebranded the business as Advanced Technology Group (ATG). Pelican made a growth equity investment alongside the existing management team to fund a plan to double capacity and support ATG’s expansion into nuclear market opportunities including life-extension projects and SMR/advanced reactors.

Conner Industries, a Fort Worth, Texas-based industrial wood and packaging company, acquired Denver Reel & Pallet Company, a custom wooden crate and pallet manufacturer in Denver, Colorado. The acquisition adds a 20,000 sq ft facility and ~30 employees, expands Conner's footprint into the Rocky Mountain market, and brings additional foam-integration capabilities for customized industrial packaging.

DRT Holdings, LLC (DRT), a portfolio company of Mill Rock Capital, has acquired Custom Machining Corporation (CMC), a Denver-based maker of high-speed, high-precision liner systems and parts for the metal packaging industry. The founders, Terri and Allan Ross, will step back following the transaction; CMC will join DRT's Metal Packaging Systems (DRT MPS) segment to broaden product capabilities, aftermarket parts and geographic reach. Terms were not disclosed.

Rotunda Capital Partners has acquired Bron Tapes, a Denver-based distributor and converter of pressure-sensitive tapes and adhesives, as the second investment from its Fund III. Rotunda intends to support Bron's organic growth, help pursue add-on acquisitions, and leverage Bron's technical expertise and nationwide branch footprint to expand its value-added distribution platform.

Branford Castle Partners (Branford Castle Partners II, L.P.) acquired Garlock Pipeline Technologies (GPT), an EnPro Industries operating division that manufactures pipeline sealing and electrical isolation products. The transaction included a simultaneous, accretive sale‑leaseback of GPT’s 64,000 sq ft manufacturing facility to Tempus Realty Partners; terms were not disclosed.

APCT, a portfolio company of Industrial Growth Partners, completed the acquisition and merger with Advanced Circuits, Inc., a designer and manufacturer of quick-turn, low-volume printed circuit boards. The transaction was announced January 10, 2023 and closed in February 2023 (enterprise value reported at $220 million), with the seller Compass Diversified receiving approximately $170 million of proceeds at closing after adjustments.

Momentive Technologies has completed the acquisition of CoorsTek's crucibles business, adding CoorsTek's crucible product line and employees to Momentive. The deal expands Momentive's portfolio of high-purity fused quartz and specialty ceramic products for semiconductor wafer and fabrication customers worldwide.

Arcline Investment Management acquired Custom Interconnects LLC and consolidated it into a newly formed specialty interconnects platform, Qnnect LLC, which combines Custom Interconnects with Meritec and Joy Signal Technology. The move creates a focused platform for high-performance electronic interconnect solutions serving aerospace, defense, semiconductor and test & measurement markets.

Crusoe Energy Systems has acquired Denver-based Easter-Owens Electric Co., a manufacturer of modular data centers and specialized electrical systems. The acquisition vertically integrates Crusoe's data center design and manufacturing capabilities to increase production capacity, supply chain control and support scaling of Crusoe's Digital Flare Mitigation, Crusoe Cloud and other data center operations.

The Radant Technologies division of Communications & Power Industries (CPI) has completed the acquisition of AdamWorks LLC, a Centennial, Colorado-based designer and manufacturer of advanced composite structures for aerospace and defense applications. AdamWorks will operate as CPI AdamWorks LLC within CPI's Radant Technologies division, expanding CPI's airborne product line and composite engineering capabilities to support commercial aviation, space and defense customers.

Kamps, Inc., a national pallet solutions provider, has acquired Denver-based L&R Pallet Service, Inc. SDR Ventures served as exclusive sell-side advisor and the sellers were James and Carine Ruder. The acquisition expands Kamps' footprint in the Colorado market and brings L&R's pallet manufacturing and recycling capabilities into Kamps' national network.

LFM Capital portfolio company PSI Power & Controls has acquired Salient Power Solutions, a Nunn, Colorado-based manufacturer of switchboards, switchgear, and control-based power solutions. The add-on expands PSI's product offering and access to key end-markets—notably data centers—enabling cross-selling and increased capacity; financial terms were not disclosed.

Columbia PSI, LLC (a business unit of Columbia Machine, Inc.) acquired Control Design & Manufacturing, Inc., a Denver-area designer and manufacturer of bag palletizing, bag handling and box forming/filling equipment. The transaction, which closed April 1, 2022, brings CD&M's palletizing and controls capabilities into Columbia PSI's bagging and packaging product line while retaining CD&M employees in the Denver operation.

3D Systems announced it will acquire Titan Additive LLC (Titan Robotics), a Colorado-based designer and fabricator of large-format, pellet-based extrusion 3D printers. The acquisition adds Titan's hybrid pellet/filament extrusion and hybrid tool-head technology to 3D Systems' polymer additive manufacturing portfolio to address larger-format industrial applications across aerospace, automotive, foundries and general manufacturing.

Agrify Corporation (Nasdaq: AGFY) acquired Lab Society, a Boulder-based maker of distillation and solvent separation equipment for the cannabis extraction industry, for $8 million in cash and stock plus an earnout of up to $3.5 million. The deal adds Lab Society’s hardware and proprietary EliteLab software to Agrify’s extraction product portfolio and is expected to be accretive in early 2022; Lab Society reported approximately $10 million in revenue for 2021.

Los Angeles-based private investment firm Carmelina Capital Partners completed an investment in Magswitch Technology Worldwide Holdings, LLC. Magswitch — a Lafayette, Colorado-headquartered maker of switchable magnetic grippers, tools, and automation components — will continue to be led by its existing executive team and will use the partnership to accelerate growth and expand its global footprint.

HTM-MBS, LLC has acquired M C Max, Inc. dba Milano Digital Papers & Films (Milano Digital), a Denver-based manufacturer and distributor of wide-format imaging media, fine art papers, films, inks, laminates and display hardware. SDR Ventures acted as exclusive sell-side advisor to Milano Digital in the transaction announced by SDR Ventures.

Denver-based Lumos Custom Lighting & Fabrication was acquired by an unnamed private investor, with SDR Ventures advising the seller. The transaction transfers ownership to new private ownership while Lumos’s leadership expressed confidence in the company’s continued legacy and growth under the new owner.

JBC Technologies, a portfolio company of River Associates Investments, acquired Die Cut Technologies (DCT), a Northglenn, Colorado-based full-service die-cutting and flexible materials converter. The add-on acquisition — JBC's first — closed on December 7, 2021 and expands JBC's converting capabilities (laser cutting, cleanroom production, large-format die cutting), manufacturing footprint, and presence in medical, electronics, automotive, and aerospace end markets.

ASTM International has acquired Wohlers Associates, a leading provider of market intelligence, reports, training, and consulting for the additive manufacturing (3D printing) industry. The acquisition brings the Wohlers Report and related advisory products into ASTM's AM Center of Excellence to expand ASTM's additive manufacturing programs, intelligence offerings and training services.

Allied Motion Technologies Inc. (Nasdaq: AMOT) has acquired ALIO Industries, a designer and manufacturer of nano-precision linear and rotary motion systems, for $20.0 million (comprised of $15.0 million cash and $5.0 million Allied common stock) plus potential earn-outs tied to future EBITDA targets. ALIO, headquartered in Arvada, Colorado, brings patented hybrid hexapod and air-bearing positioning technologies intended to expand Allied Motion’s precision positioning and robotics capabilities across markets such as silicon photonics, genome sequencing and microelectronics.

Tide Rock Holdings, a San Diego–area strategic holding/PE firm, has acquired Altratek Plastics, a Longmont, Colorado custom injection molding and tooling company. The deal expands Tide Rock’s plastics manufacturing platform by adding mid-tonnage injection molding capacity, robot-assisted automated production and broader end-market coverage across commercial, industrial and specialty consumer products. Michael Engler (CEO of Tide Rock portfolio companies) will lead Altratek as CEO alongside Dan Kaven, the company’s former owner, to manage the transition.

Tide Rock Holdings acquired Pikes Peak Plastics Co., a Colorado Springs-based plastic injection molder and components manufacturer, to expand its plastics manufacturing capabilities across thermoforming, overmolding and injection molding. The acquisition is an add-on to Tide Rock’s portfolio intended to broaden onshore plastics capability and create synergies across industrial, aerospace and medical end markets.

Chicago-based private equity firm Benford Capital Partners has acquired NucFil, LLC, a Golden, Colorado manufacturer of engineered storage and safety products used primarily by Department of Energy laboratories. CEO Terry Wickland will remain in place and Benford plans to invest in operational capabilities, new product development and pursue add-on acquisitions to grow the business.