As manufacturers strive to optimize and improve profitability, they often use various business strategies to stay competitive. These actions include mergers, acquisitions, promotions, layoffs, funding, and much more. Below are just a few of the companies that are making moves and making headlines in the industrial sector.
Acquistion: Modine, a company that focuses on thermal management and ventilation solutions, has agreed to acquire Scott Springfield Manufacturing. With clients in the telecommunications, healthcare, and aerospace industries, Scott Springfield Manufacturing specializes in the production of air handling units (AHU). In a recent quote, Neil D. Brinker, President and Chief Executive Officer of Modine, said, "The acquisition is right in line with our transformation and will bring Modine a product line and customer base in high-growth markets that fully complement and expand our current reach, including to hyperscale data center operators. Further, the addition of custom air handling unit capabilities demonstrates our continued commitment to focus on innovative, engineered solutions that help us achieve our long-term growth targets. Coming on the heels of our acquisition of Napps Technology last year and the purchase of liquid immersion cooling assets last month, Modine is in a very strong position to provide customers a full range of technology solutions in critical cooling and ventilation applications."
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Acquistion: PROBAT, a company that focuses on coffee processing plants and machinery, has acquired AC Horn Manufacturing. Based in Texas, AC Horn specializes in the production of food processing equipment, including roasters and dryers, grinders, granulators, cookers, and coaters. In a recent quote, ROBAT CEO Wim Abbing said, “PROBAT and AC Horn are two family-owned companies that have more in common than separates them. Our combined expertise will strengthen both companies to the benefit of our customers and all stakeholders. I am very pleased that Michael Horn has decided to remain at the helm in Dallas and look forward to a shared future.”
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Business Deals: The HAIMER Group has recently become a 25% shareholder in WinTool AG, as well as forming a strategic partnership with the TCM Group. As part of this business deal, HAIMER now has global distribution rights to WinTool and Toolbase. In a recent quote, Markus Temmel, CEO of TCM Group, said, "In 2023, we worked together very intensively and were able to achieve significant success in a very short period of time. The product portfolios of HAIMER and the TCM Group complement each other seamlessly and our shared understanding of our customers' requirements will lead to even more powerful overall solutions. Both partners stand for practical, high-quality solutions that are geared towards the long-term benefit of the customer. Furthermore, we are convinced that the HAIMER product range will enrich our range of services in the tool management business field and strengthen our market position and our claim to be the market leader for tool management services. All TCM tool management customers worldwide will benefit from this in the future. We look forward to consolidating this strategic partnership and welcome HAIMER as a shareholder at WinTool. "
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Acquistion: Exyte, a company that specializes in the design, engineering, and delivery of high-tech facilities, has officially completed its acquisition of CollabraTech Solutions. CollabraTech helps its clients in the technology and semiconductor industry in the design and production of distribution systems and contract manufacturing services. In a recent quote, Exyte CEO Dr. Wolfgang Büchele said, "By acquiring CollabraTech Solutions, we enhance our vertical integration, as their offerings seamlessly align with our Technology & Services business area. We are excited to welcome the CollabraTech Solutions employees to Exyte. Through the acquisition of highly specialized companies, we bring complementary technology, experience, and value creation into our company, while also unlocking additional revenue opportunities. The strategic advancement of T&S supports our profitable growth."
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Acquistion: Sandvik, an engineering group that offers solutions to improve manufacturers’ productivity, profitability, and sustainability, has announced plans to acquire Cimquest. By purchasing the computer aided manufacturing (CAM) solutions reseller, Sandvik hopes to be better positioned to serve its customers and expand its client base. In a recent quote, Stefan Widing, President and CEO of Sandvik, said, “The acquisition of Cimquest is another step in our strategic direction to grow in the digital manufacturing space, and an important investment in Mastercam’s channels. This will strengthen our presence within CAM, expand our ability to serve customers and improve our growth platform going forward.”
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