M&A Deal Summary

Dwyer Acquires Miljoco

On January 5, 2024, Dwyer acquired test/measurement equipment company Miljoco from Foundation Investment Partners

Acquisition Highlights
  • This is Dwyer’s 2nd transaction in the Test/Measurement Equipment sector.
  • This is Dwyer’s 4th transaction in the United States.
  • This is Dwyer’s 2nd transaction in Michigan.

M&A Deal Summary
Date 2024-01-05
Target Miljoco
Sector Test/Measurement Equipment
Buyer(s) Dwyer
Sellers(s) Foundation Investment Partners
Deal Type Add-on Acquisition
Advisor(s) Brown Gibbons Lang & Co. (Financial)

Target

Miljoco

Mt Clemens, Michigan, United States
Miljoco is a designer, manufacturer, and distributor of a broad range of temperature and pressure measurement instruments utilized in critical life and safety, food safety, commercial indoor environmental quality (IEQ), and industrial applications. The company's proprietary automated production and near-zero tolerance for failure have resulted in a well-earned reputation for quality, highly customizable products. Miljoco was formed in 1979 and is based in Mt Clemens, Michigan.

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Buyer(S) 1

Buyer

Dwyer

Michigan, Indiana, United States
Category Company
Founded 1931
Sector Test/Measurement Equipment
DESCRIPTION

Dwyer designs and manufactures sensors and instrumentation solutions for the process automation, HVAC, and building automation markets. Dwyer was founded in 1931 and is based in Michigan, Indiana.

DEAL STATS #
Overall 4 of 5
Sector (Test/Measurement Equipment) 2 of 3
Type (Add-on Acquisition) 3 of 4
State (Michigan) 2 of 2
Country (United States) 4 of 4
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-05 Automation Components

Middleton, Wisconsin, United States

Automation Components is a designer, manufacturer, and distributor of sensors and instruments for building automation, data centers, and indoor air quality markets. Automation Components is based in Middleton, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-21 PST

Ely, United Kingdom

PST is a provider of measurement instrumentation and monitoring solutions for process-critical applications worldwide. With 12 leading brands, PST offers a comprehensive suite of proprietary sensors, instruments, analyzers, and monitoring solutions with sensing capabilities across parameters, including moisture, gas, level, and flow. PST was founded in 1964 and is based in Ely, Cambridgeshire.

Buy -

Seller(S) 1

SELLER

Foundation Investment Partners

Category Private Equity Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

Foundation Investment Partners is a Midwest US-based private equity investor focused on acquiring niche manufacturers, value-added distributors, outsourced business service providers, and targeted software developers. Targeted acquisition characteristics include b2b orientation, defensible market positions, undermanaged, and limited focus on sales/marketing. The Firm seeks businesses profitable candidates with $1 to $6 million of EBITDA. Foundation Investment Partners was formed in 2009 and is based in Cleveland, Ohio.

DEAL STATS #
Overall 2 of 2
Sector (Test/Measurement Equipment) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Michigan) 1 of 1
Country (United States) 2 of 2
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-17 Weiss Instruments

Holtsville, New York, United States

Weiss Instruments is a manufacturer of temperature and pressure instruments for commercial HVAC/R and OEM customers. Its portfolio includes HVAC thermometers and pressure gauges, OEM dial thermometers for the foodservice industry, and a growing line of sustainable light-powered thermometers for air conditioning, refrigeration, food service, food retail, and industrial applications. Weiss Instruments was founded in 1882 and is based in Holtsville, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-11 Spartan Tool Supply

Columbus, Ohio, United States

Spartan Tool Supply is a distributor of industrial power tools and equipment to businesses across various industries. Spartan Tool Supply is based in Columbus, Ohio.

Buy -
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