M&A Deal Summary

Asplundh Acquires Voltyx

On May 28, 2024, Asplundh acquired electrical equipment company Voltyx from Arcline Investment Management and Industrial Growth Partners

Acquisition Highlights
  • This is Asplundh’s 1st transaction in the Electrical Equipment sector.
  • This is Asplundh’s 1st transaction in the United States.
  • This is Asplundh’s 1st transaction in Tennessee.

M&A Deal Summary
Date 2024-05-28
Target Voltyx
Sector Electrical Equipment
Buyer(s) Asplundh
Sellers(s) Arcline Investment Management
Industrial Growth Partners
Deal Type Add-on Acquisition

Target

Voltyx

Nashville, Tennessee, United States
Voltyx provides highly technical, outsourced substation services to a diverse universe of utility, renewable, data center, industrial, and other customers nationwide. Voltyx provides a comprehensive, specialized service offering across transformers, protective relays, and control systems and other related substation apparatus equipment such as breakers, batteries, and switchgear. Voltyx is based in Nashville, Tennessee.

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Buyer(S) 1

Buyer

Asplundh

Willow Grove, Pennsylvania, United States
Category Company
Founded 1928
Sector Business Services
Employees35,000
DESCRIPTION

Asplundh is a provider of recurring, nondiscretionary services across three segments: vegetation management, UtiliCon, and commercial landscaping. Asplundh was established in 1928 and is based in Willow Grove, Pennsylvania.

DEAL STATS #
Overall 1 of 1
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Tennessee) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1

Seller(S) 2

SELLER

Arcline Investment Management

Investor Investor

Category Private Equity Firm
Founded 2018
PE ASSETS 8.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Arcline Investment Management is a private equity firm that seeks to invest in niche, market-leading companies. Arcline is a generalist investor, however the Firm prefers businesses in the industrials, technology, life science, and chemicals sectors. The Firm targets businesses with $10 to $100 million of EBITDA and valued up to $1 billion. Arcline was formed in 2018 and has offices in New York City and San Francisco.

DEAL STATS #
Overall 4 of 4
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Tennessee) 1 of 1
Country (United States) 4 of 4
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-19 Kaman

Bloomfield, Connecticut, United States

Kaman conducts business in the aerospace & defense, industrial, and medical markets. The company produces and markets proprietary aircraft bearings and components; super precision, miniature ball bearings; proprietary spring energized seals, springs, and contacts; wheels, brakes, and related hydraulic components for helicopters, fixed-wing, and UAV aircraft; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; safe and arming solutions for missile and bomb systems for the U.S. and allied militaries; subcontract helicopter work; restoration, modification, and support of its SH-2G Super Seasprite maritime helicopters; support of its heavy lift K-MAX manned helicopter; and development of the KARGO UAV unmanned aerial system, a purpose-built autonomous medium lift logistics vehicle. Kaman was formed in 1945 and is based in Bloomfield, Connecticut.

Buy $1.8B
SELLER

Industrial Growth Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 3.4B USD
Size Large
Type Sector Focused
DESCRIPTION

Industrial Growth Partners (IGP) is a private equity firm that invests in privately held, lower middle-market manufacturing and manufacturing services companies. Specific areas of interest include industrial components and equipment, electrical and electronic equipment, process instrumentation and controls, analytical instruments and measuring devices, filtration and pumps, specialty chemicals, plastics, and healthcare/safety equipment. Prospective transaction situations include management buyouts, leveraged buyouts, corporate divestitures, recapitalizations, management buy-ins, and growth capital financings. Target companies typically are profitable and have annual revenues up to $250 million. IGP was formed in 1997 and is based in San Francisco, California.

DEAL STATS #
Overall 34 of 34
Sector (Electrical Equipment) 6 of 6
Type (Add-on Acquisition) 18 of 18
State (Tennessee) 4 of 4
Country (United States) 33 of 33
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-19 Climax Portable Machine Tools

Newberg, Oregon, United States

Climax Portable Machine Tools is a supplier of portable machine tools and related products serving the shipbuilding, power generation, service and engineering sectors. Climax Portable Machine Tools was founded in 1966 and is based in Newberg, Oregon.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-29 AMG

Danbury, Connecticut, United States

AMG is a high precision metal forming manufacturing platform that provide mission critical components and assemblies into aerospace, defense and medical markets. AMG is based in Danbury, Connecticut.

Buy -
Mergr

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