Manufacturing Acquisitions in New York

Invio Automation, a portfolio company of Arsenal Capital Partners, has acquired Calvary Robotics, a Webster, New York-based provider of robotics, advanced automation and material handling systems. The add-on expands Invio's engineering capabilities and manufacturing footprint to better serve high-growth end markets such as medical devices, advanced manufacturing and transportation; terms were not disclosed.

Salt Creek Capital, a San Francisco Bay Area private equity firm, has acquired Northrock Industries, Inc., a Bohemia, New York-based manufacturer of American-made industrial construction tools. Bret Schmitz will become CEO as founder Brian Robertson exits, and Salt Creek intends to expand Northrock’s geographic reach, enhance its digital presence, and grow the customer base.

Avery Products Corporation, a division of CCL Industries, has acquired IDESCO Corp., a New York–based provider of secure access control and ID badging solutions. The deal expands Avery/CCL's portfolio of secure identification and credentialing technologies and brings IDESCO's products and employees into the Avery/CCL organization.

Taylor Corporation, a global print and communications company headquartered in North Mankato, Minnesota, has acquired Gooten, Inc., a New York–based provider of print-on-demand order management software and fulfillment services. The deal combines Gooten's OrderMesh platform and fulfillment network with Taylor's manufacturing footprint and technology capabilities to accelerate growth in the print-on-demand market.

Afinitas, the Afinitas platform backed by BW Forsyth Partners, has acquired RJ Watson, Inc., a Buffalo-area manufacturer of bridge bearings, seismic isolation devices and expansion joint systems. The deal expands Afinitas' capabilities beyond precast concrete into bridge, highway and heavy construction markets as an add-on to its infrastructure platform.

Sheridan Capital Partners has completed an investment in Currier Plastics, a precision custom plastics manufacturer serving healthcare and life sciences, and appointed Andrew McLean as Currier's new CEO. The private equity partnership will support Currier’s organic growth initiatives and strategic M&A to expand its medical contract manufacturing capabilities.

saas.group has acquired DAKboard, a Syracuse-based provider of customizable digital display hardware and software founded by Dan King in 2017. The acquisition expands saas.group's portfolio into smart-home and digital-organization displays and will allow DAKboard to accelerate product development and market reach with saas.group's resources.

TCP Analytical Holdings, a portfolio company of Riverarch Equity Partners, has acquired Alconox Inc., a White Plains, New York–based supplier of aqueous detergents used across medical device, pharmaceutical, laboratory and foodservice end markets. BellMark Partners advised Alconox on the transaction; the acquisition is an add-on to TCP Analytical’s specialty chemicals and consumables platform to broaden product capabilities and end-market coverage.

The Partner Companies (TPC) has acquired Precision Eforming, a Cortland, New York-based maker of precision electroformed metal mesh and sieves. The acquisition expands TPC's micro-component and electroforming capabilities and broadens its access to end markets including aerospace, medical, defense, electronics and energy.

Prince & Izant, LLC (P&I), a Cleveland-based provider of engineered metal alloys and brazing materials, has acquired the stock of Clad Metal Specialties, Inc., a Bay Shore, New York manufacturer of custom clad metal composites. The deal is an add-on acquisition to P&I (a platform backed by Industrial Growth Partners) to expand its engineered materials capabilities for aerospace, defense, space and industrial end markets.

Portland Bolt & Manufacturing Co., LLC has acquired Bennett Bolt Works, a Jordan, New York-based manufacturer of bolts and fasteners for highway guardrail systems, bridge construction, and overhead sign structures. The deal expands Portland Bolt's manufacturing capabilities and regional presence while retaining the existing Bennett Bolt Works team and operations under the name Portland Bolt Northeast.

CFS Brands, a U.S.-based manufacturer of foodservice and healthcare products, has acquired Mercer Culinary, a Ronkonkoma, New York-based supplier of commercial-grade cutlery, kitchen tools, barware and apparel. Mercer will operate as a standalone business within CFS Brands as the companies integrate to expand product offerings and distribution for culinary and bar professionals.

SurfacePrep, a portfolio company of Nautic Partners, has acquired Precision Abrasives, LLC from Gioia Capital. The add-on acquisition expands SurfacePrep's abrasive product offerings and regional distribution footprint; financial terms were not disclosed.

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.

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.

CELLTREAT Scientific Products has acquired Brewster Plastics, a U.S.-based precision injection molding manufacturer with a 72,000 sq. ft. facility in Patterson, New York. Operations will be consolidated with CELLTREAT's VistaLab Technologies subsidiary to expand domestic production capacity, improve delivery times, and boost manufacturing efficiency for lab consumables and plastics.

Addison Capital Partners announced that its portfolio company Communication Power Companies (CPC) has partnered with Innovative Power Products, Inc. (IPP) management in a recapitalization and business combination. The deal joins CPC's RF power amplifier and antenna capabilities with IPP's RF and microwave passive components to expand product offerings, support integrated system solutions and provide long‑term capital for growth.

CORE Industrial Partners’ portfolio company PrecisionX Group has acquired Ditron, Inc., a Stormville, New York-based provider of micro and micro‑miniature precision metal stamping. The acquisition is an add‑on to the PrecisionX platform to expand high-speed, high-volume micro-stamping capabilities and serve aerospace, medical, electronics and other industrial end markets.

The Edgewater Funds (Edgewater Growth Capital Partners V) has made an investment in Nationwide Coils, Inc., a Somers, New York-based distributor and manufacturer of custom HVAC replacement coils and heat exchangers. The investment establishes Nationwide Coils as a new platform for Edgewater to scale through organic growth and strategic add-on acquisitions while partnering with founder Ross Stephens and management.

Kingswood Capital Management has acquired Kodak Alaris from the United Kingdom Pension Protection Fund. The Los Angeles-based private equity firm said it will partner with management to invest in growth and operational initiatives across Kodak Alaris' two business units—Kodak Moments (consumer photo products) and Kodak Alaris Business Unit (document capture hardware, software and services).

Cleanova, a portfolio company of PX3 Partners, has acquired Sidco Holdings LLP (together with Sidco Filter, LLC and Shawndra Products, Inc.) from Fairchild Capital Partners. Sidco Group is an industrial filtration manufacturer based near Rochester, New York; since Fairchild's 2019 investment the business expanded from one to four facilities, grew revenue more than fourfold and increased headcount from ~30 to over 130 employees.

EIS, a North American specialty distributor of electrical and electronic process materials, has acquired Gerome Technologies, a supplier and fabricator of molded and composite insulation products serving the power generation and electrical industries. The acquisition expands EIS' flexible and rigid insulation portfolio and fabrication capabilities to better serve OEM and aftermarket customers in the power generation market.

Power Integrations has agreed to acquire the assets of Odyssey Semiconductor Technologies, a developer of vertical gallium-nitride (GaN) transistor technology. The deal, expected to close in July 2024, will bring key Odyssey employees into Power Integrations' technology organization to accelerate the company's PowiGaN roadmap and broaden its high-voltage GaN capabilities.

EnerSys agreed to acquire Bren-Tronics, Inc. in an all-cash transaction valued at $208 million. The acquisition will integrate Bren-Tronics' portable lithium battery and charging solutions into EnerSys' Specialty line to expand lithium capabilities and strengthen its presence in the military and defense end market.

Heartwood Partners made a growth investment in Royal Products, a Hauppauge, New York-based manufacturer and distributor of metalworking performance accessories, on April 12, 2024. Management will remain in place while Heartwood plans to support the company’s expansion through investments in people, processes and strategic add-on acquisitions; Lincoln International and Carl Marks Advisors served as financial advisors.

Specac, Ltd — a portfolio company of Ampersand Capital Partners — has acquired Harrick Scientific, a U.S.-based manufacturer of spectroscopy accessories and optical components. The deal combines complementary product lines to create a broader life-sciences-oriented platform serving OEM and laboratory end markets and will be supported by Ampersand operating resources on the Specac board and management team.

KCC Corporation, the Seoul-based chemicals manufacturer, has entered into an agreement to fully acquire Momentive Performance Materials Group, consolidating ownership and resulting in the exit of minority shareholder SJL Partners LLC. The transaction, which remains subject to customary closing conditions, brings Momentive (a global silicones and specialty materials manufacturer headquartered in Niskayuna, New York) under 100% KCC ownership to support expanded collaboration and capability growth.

Ronin Equity Partners financed the acquisition of Akron, New York-based Woodmaxx by Engenuity Outdoor Equipment (formerly DK2) with a $25 million term-loan facility. The deal adds roughly $20 million of annual revenue and approximately $5 million in synergies, brings domestic manufacturing and power take-off product capability into Engenuity, and Woodmaxx owners (including founder Kurt Schie) are reinvesting a substantial portion of proceeds into a double-digit minority stake.

Luxium Solutions, a PE-backed provider of high-performance crystals for photonics and radiation detection, has agreed to acquire PLX Inc. and PLX UK, Ltd. from an investor group led by Tinicum. The acquisition broadens Luxium's detection-enabling technology capabilities by adding PLX's monolithic optical assembly, optomechanical engineering and systems-integration expertise; debt financing was provided by KeyBanc Capital Markets and a unitranche by Stellus Capital Management.

Fedrigoni Group has acquired certain assets of US-based Mohawk Fine Papers and integrated them into its Special Papers division. Financial terms were not disclosed; Fedrigoni said the deal strengthens its position in the North American specialty fine papers market and reflects a shared commitment to innovation and sustainability.

ShoreView Industries has agreed to acquire P&F Industries, Inc. in an all-cash take-private transaction at $13.00 per share. Northstar Capital provided junior debt financing and an equity co-invest to help fund the transaction; ShoreView will operate P&F as a platform and pursue add-on acquisitions in hand-held tools, gears and niche industrial equipment.

Kano Laboratories, backed by Gryphon Investors' Gryphon Heritage Fund, has acquired the operating assets related to the Super Lube and Synco brands from Synco Chemical Corporation. The acquisition expands Kano's portfolio of premium greases and lubricants and will see Natalia Diaz continue to lead Super Lube as President, reporting to Kano President Mark Klein; terms were not disclosed.

Promountings, a U.S.-based fitness equipment designer and manufacturer, has acquired Aqua Training Bag, the original water-filled training bag brand. The acquisition expands Promountings' product lineup, enables packaging of mounts with bags, and aims to improve scale and logistics while revitalizing the Aqua Training Bag brand for commercial gyms and at-home consumers.

PennEngineering has acquired Sherex Fastening Solutions, a Buffalo-area manufacturer of blind rivet nuts and engineered fastening systems. The deal expands PennEngineering's rivet nut product portfolio and global manufacturing/installation capabilities to better serve OEM customers across automotive, aerospace, and industrial markets.

Sweden-based Lindab has signed an agreement to acquire Vicon, a US manufacturer of machines for rectangular ventilation ducts, boosting Lindab's US sales more than threefold and doubling its global duct-machinery sales. Vicon (headquartered in Bohemia, New York, with production in Pevely, Missouri and Meadville, Pennsylvania) has approximately SEK 260 million in annual sales and 64 employees; the acquisition is to be financed with Lindab's own funds and is expected to close in Q1 2024.

Monument MicroCap Partners-backed portfolio company Sweet Tooth Enterprises has acquired Inter Molds Inc., an aluminum mold-maker based in Bay Shore, New York. The add-on expands Sweet Tooth's Aztec division with in-house toolmaking capabilities and increased CNC machining capacity; it is Sweet Tooth's first add-on since Monument's October 2023 recapitalization.

Motorola Solutions has acquired IPVideo, the creator of the HALO Smart Sensor, a multifunctional non-video safety and security sensor. The acquisition adds a privacy-preserving, real-time threat detection sensor to Motorola Solutions' physical security and public-safety product ecosystem to extend detection capabilities into environments where cameras are not suitable.

Monument MicroCap Partners, a Midwest-based private equity firm, closed a transaction to invest in Sweet Tooth Enterprises, a tooling and injection molding provider based in Edgewood, New York, on October 17, 2023. Sweet Tooth operates Micelli Chocolate Mold Company and Aztec Tooling & Injection Molding Company, supplying polycarbonate chocolate molds and custom injection-molded parts to confectionery, food, pharmaceutical, cosmetics, automotive and retail customers; Monument will provide strategic support and capital to expand the company's reach and capabilities.

Rensa Filtration has acquired APC Filtration (Brantford, Ontario) and R.P. Fedder (Rochester, New York) and will operate them together with its Custom Filter business to form an expanded high-efficiency air filtration division. The acquisitions add complementary manufacturing, testing and OEM engineering capabilities to Rensa’s product lineup to serve education, healthcare and high-tech manufacturing end markets.

Samsung Display will acquire eMagin Corporation for $2.08 per share (approximately $218 million) after eMagin stockholders approved the merger. The deal, which will take eMagin private and remove its shares from NYSE American, is expected to close in the second half of 2023 subject to customary conditions and regulatory approvals.

Dunes Point Capital, LP (via Dunes Point Capital Fund III, LP) has acquired Warshaw Supply, LLC, a New York–based supplier of electrical products serving commercial and multi-family end markets. The transaction was financed with debt from M&T Bank and advisors included Polsinelli PC, Alvarez & Marsal Transaction Advisory Group and Ridge Advisory.

Iron Path Capital has formed VION Biosciences as a life-science roll-up platform and completed the acquisition of Aldon Corporation, a private-label manufacturer and distributor of lab chemicals headquartered in Avon, New York. Aldon will serve as VION’s inaugural platform investment to build a specialty chemicals and reagents business serving biopharma, molecular diagnostics and STEM education markets; Mark Thornton was named CEO of VION Biosciences.

An affiliate of Peak Rock Capital has signed a definitive agreement to acquire Rochester Midland Corporation, a 135-year-old specialty chemical supplier headquartered in Rochester, New York. Peak Rock will partner with the Calkins family and RMC management to accelerate growth, pursue complementary acquisitions, and expand the company’s production, geographic footprint, and service offerings.

Addison Capital Partners has recapitalized Communication Power Companies (CPC), partnering with CPC management; financial terms were not disclosed. The investment provides a long-term capital base to support CPC's ongoing growth as a vertically integrated design-build manufacturer of RF and microwave power amplifiers serving military, industrial, scientific and medical markets.

Tramec, a portfolio company of High Street Capital with support from Wells Fargo Strategic Capital, has acquired CS Automation, an Ontario, New York-based designer and manufacturer of pneumatic automation, motion controls, and machine framing and safeguarding. The deal is an add-on intended to expand Tramec's presence in the industrial automation sector, strengthen heavy-duty capabilities, open new sales channels for Tramec Sloan products, and realize operational synergies.

Salt Creek Capital, a San Francisco Bay Area private equity firm, has acquired Lewis Brass & Copper Holding Company, an ESOP-owned distributor and specialty redraw tube operator serving customers across North America. The transaction accompanies management transition with Luke Anderson named incoming CEO as longtime leaders Richard Bacharach and Martin Erdfarb retire, and Salt Creek indicates plans to support growth and operational expansion.

Seattle-based private equity firm Pike Street Capital announced an investment in Apollo Optical Systems, a West Henrietta, New York manufacturer of precision optical components and systems. Pike Street said the investment will serve as the foundation for a platform in the optics technology sector and intends to build on AOS by investing in complementary businesses while Apollo's founder and CEO continues to lead the company.

Olympus Partners has signed a definitive agreement to acquire a majority ownership stake in International Wire Group Holdings, Inc. (IWG) from Atlas Holdings, with Atlas remaining as an investor. Headquartered in Camden, New York, IWG is a leading manufacturer of copper and copper-alloy wire products with operations in the United States and Europe; the transaction was expected to close in Q2 2023 and financial terms were not disclosed in the initial announcement.

AEM, a San Diego-based electronics platform and portfolio company of Industrial Growth Partners (IGP), has acquired Central Semiconductor Corp., a designer and manufacturer of discrete semiconductor solutions based in Hauppauge, New York. The deal expands AEM's product offering in discrete power conditioning components and is being executed as an add-on to AEM's existing platform to broaden capabilities and serve combined customers across industrial, medical, aerospace and commercial end markets.

Quad-C Management agreed to acquire QED Technologies International, Inc. from Entegris in a definitive agreement announced January 20, 2023. The deal is a carve-out of Entegris' QED business and will return QED to standalone ownership under Quad-C to support growth in precision optics, metrology, and contract optics manufacturing.