Tracked deals
9
9 tracked deals across 2020-2025.
Manufacturing Buyers & Acquisitions in South Dakota
Buyer mix
PE-led
12 pe · 4 strategic
Top trend
Volume peaked in 2023
4 tracked deals announced in 2023.
Buyer Snapshot
Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Behrman Capital | 1 | Private equity firm focused on management buyouts, levera... | PE |
| Emko Capital | 1 | Middle-market private equity firm specializing in investm... | PE |
| Exeter Image Holdings | 1 | Platform company created/controlled by Exeter Street Capi... | PE |
| Exeter Street Capital Partners | 1 | Lower‑middle‑market private equity firm (affiliate of Pat... | PE |
| Harbert Credit Solutions | 1 | Credit solutions / credit investor providing financing fo... | PE |
| Industrial Opportunity Partners | 1 | Operations-focused private equity firm investing in manuf... | PE |
| Lynx Equity Limited | 1 | Diversified private equity firm focused on acquiring smal... | PE |
| Members of Persona's leadership team | 1 | Rollover management team retaining equity and partnering ... | Investor |
| NewSpring Mezzanine | 1 | Mezzanine debt and subordinated equity investor within th... | PE |
| Northcreek Mezzanine | 1 | SBIC mezzanine lender providing subordinated debt and equ... | PE |
Acquisition Volume in Manufacturing in South Dakota by Year
Last 5 years
Supporting Data
Recent Transactions
-
October 1, 2025
- Buyer
- Thompson Fabrication LLC
- Target
- Midwest Dakota Dumpsters
- Industry
- Manufacturing
- Location
- South Dakota, United States
- Type
- Addon
Thompson Fabrication LLC, a PE-backed manufacturer and distributor of waste equipment containers, has acquired Midwest Dakota Dumpsters (MDD), a Castlewood, South Dakota-based maker of waste containers. The deal closed on October 1, 2025 and will integrate MDD's operations and facilities into Thompson's platform to expand its Midwest footprint and manufacturing capacity.
-
October 3, 2023
- Buyer
- Emko Capital, Tecum Capital, Woodforest National Bank
- Target
- Scotchman Industries, Steelmax Tools
- Industry
- Manufacturing
- Location
- South Dakota, United States
- Type
- Recapitalization
Emko Capital recapitalized Scotchman Industries and Steelmax Tools and created the new holding company SMX Industrial Solutions to combine the two metal-fabrication equipment brands. Tecum Capital provided supporting debt and equity and Woodforest National Bank participated in financing; the new platform will broaden the companies' product portfolio and support future acquisitions across manufacturing, construction and energy end markets.
-
October 2, 2023
- Buyer
- Lynx Equity Limited
- Target
- Creative Surfaces, Inc.
- Seller
- Jud Pins (Judson Pins)
- Industry
- Manufacturing
- Location
- South Dakota, United States
- Type
- Buyout
Toronto-based private equity firm Lynx Equity Limited has acquired Creative Surfaces, Inc., a Sioux Falls, South Dakota manufacturer, distributor and installer of commercial casework, countertops, cabinetry and signage. Founder and CEO Jud Pins (former owner) sold the business and will remain in management; terms were not disclosed. Creative Surfaces has approximately 123 employees and $40 million in annual sales, and Lynx intends to leverage its existing sister companies to provide operational support and pursue synergies, including entry into the gaming market.
-
July 31, 2023
- Buyer
- Standex International Corporation
- Target
- Minntronix
- Industry
- Manufacturing
- Location
- South Dakota, United States
- Type
- Buyout
Standex International Corporation acquired Minntronix, a South Dakota-based designer and manufacturer of magnetic components, for approximately $30 million in cash. Standex said the acquisition expands its presence in fast-growing end markets such as 5G, smart grid, and industrial automation and is expected to be accretive in the first year.
-
February 14, 2023
- Buyer
- PumpTech LLC, Pike Street Capital, LLC
- Target
- Dakota Pump Inc
- Industry
- Manufacturing
- Location
- South Dakota, United States
- Type
- Addon
PumpTech LLC, a Pike Street Capital portfolio company, has acquired Dakota Pump Inc, a Mitchell, South Dakota-based supplier of packaged pump stations and automated controls for the water and wastewater markets. The acquisition expands PumpTech's product portfolio, controls/SCADA capabilities and nationwide distribution reach as part of Pike Street's platform growth strategy.
-
April 29, 2022
- Buyer
- Industrial Opportunity Partners
- Target
- Raven Engineered Films Division
- Seller
- CNH Industrial
- Industry
- Manufacturing
- Location
- South Dakota, United States
- Type
- Divestiture
Industrial Opportunity Partners (IOP) has acquired the Raven Engineered Films Division from CNH Industrial for $350 million. The Sioux Falls-based business, a manufacturer of engineered polymer films and sheeting for agriculture, construction and industrial markets, will operate as IOP's first platform investment from Fund IV with management continuing to lead the company.
-
March 7, 2022
- Buyer
- Exeter Image Holdings, Exeter Street Capital Partners, Harbert Credit Solutions, NewSpring Mezzanine, Northcreek Mezzanine, Members of Persona's leadership team, Triangle Sign & Service
- Target
- Persona Signs
- Industry
- Manufacturing
- Location
- South Dakota, United States
- Type
- Addon
Exeter Image Holdings, the platform backed by Exeter Street Capital Partners, made a majority investment in Persona Signs in a transaction co-sponsored by Harbert Credit Solutions, NewSpring Mezzanine, Northcreek Mezzanine and members of Persona’s leadership team. Persona will join Triangle Sign & Service under the combined Persona‑Triangle operating structure to create a national signage, lighting, and facility services platform; Enterprise Bank and Trust provided senior debt financing for the deal.
-
July 29, 2021
- Buyer
- Behrman Capital
- Target
- Shur-Co, LLC
- Seller
- PCM Companies, LLC (PCMC)
- Industry
- Manufacturing
- Location
- South Dakota, United States
- Type
- Buyout
Behrman Capital, a New York-based private equity firm, has acquired Shur-Co, LLC, a Yankton, South Dakota-based manufacturer of cargo covering and cargo control systems. Shur-Co—previously a subsidiary of PCM Companies (PCMC)—will continue to be led by CEO Terry Tennant and will partner with Behrman to accelerate its growth and product development across agriculture, construction, waste and rail end markets.
-
July 21, 2020
- Buyer
- One Equity Partners
- Target
- Spartronics
- Seller
- Sparton Corporation
- Industry
- Manufacturing
- Location
- South Dakota, United States
- Type
- Buyout
One Equity Partners (OEP) completed the acquisition of Spartronics, the Manufacturing & Design Services (MDS) business formerly of Sparton Corporation, creating a standalone electronics manufacturing services (EMS) platform. Headquartered in Watertown, South Dakota, Spartronics operates nine U.S. sites and one facility in Vietnam providing engineering, contract design, PCB/assembly and cable/harness manufacturing to aerospace, medical and industrial OEMs; financial terms were not disclosed.
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