It's just business: Manufacturing moves from Ingersoll Rand, Modine, Solar Atmospheres, and more
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.
Capital: E Tech Group has received a strategic investment from Graham Partners. The automation system integrator plans to use the funds to continue investing in new tools, technologies, and talent, helping the company further emphasis its commitment to innovation and providing its clients with improved automation services. In a recent quote, Matt Wise, CEO of the E Tech Group, said, “The E Tech Group is on a mission to disrupt and reshape the world of industrial automation. This new investment will advance our ability to provide distinctive automation solutions, elevating efficiency and productivity while redefining how manufacturing is done in North America.”
Learn more
Capital: Equispheres Inc. has recently closed its round of Series B financing, which totaled C$20 million and was led by Martinrea International Inc., an automotive company. Equispheres develops and produces advanced materials for use in additive manufacturing. In a recent quote, Kevin Nicholds, President and CEO of Equispheres, said, “By working closely with global leaders in automotive, aerospace and defense, we have been able to use our technology to engineer materials that unlock new high-speed additive manufacturing processes and new applications.”
Learn more
Acquistion: Solar Atmospheres, Inc. has announced the acquisition of Certified Metal Craft (CMC), a company that specializes in heat treating and brazing services. The company serves a variety of markets, including aerospace, medical and commercial. In a recent quote, Derek Dennis, President of Solar Atmospheres of California, Inc., said, “Solar is excited to welcome the dedicated CMC team into the growing nation of Solar companies. We look forward to learning, growing, and working together to modernize the facility with Solar built state-of-the-art equipment, support systems, and a customer support structure that seamlessly works to meet or exceed our valuable customers’ requirements.”
Learn more
Acquisition: Lear Corporation plans to acquire WIP Industrial Automation. WIP, a systems integrator that specializes in advanced automation solutions, is a long-time supplier to Lear, which focuses on automotive technology in Seating and E-Systems. In a recent quote, Ángel Rodríguez Fernández, WIP CEO and co-owner, said, “This transaction gives WIP a unique opportunity to become part of a world-class automotive company, marrying WIP’s expertise in robotics and AI technologies with Lear’s industry-leading knowledge in product design, engineering, and manufacturing processes.”
Learn more
Capital: Inkbit has closed a $19 million round of funding, which was led by Ingersoll Rand. The company, which provides additive manufacturing solutions, also received investments from Future Labs Capital, GC Ventures America, iGlobe Partners, Ocado, and more. In a recent quote, Davide Marini, Cofounder and CEO at Inkbit, said, “This new partnership with Ingersoll Rand marks a key milestone in the history of our company. We are evolving from an equipment provider to partnering with manufacturers to develop new materials and processes to enable the acceleration and simplification of product innovation. For me personally, and for our team at Inkbit, being able to learn from and be inspired by some of the most iconic names in the history of American manufacturing is a once-in-a-lifetime opportunity. I look forward to building on this extraordinary tradition of technical ingenuity and operational excellence. Together, we will create the factories of the future.”
Learn more