M&A Deal Summary

Hexagon Acquires Atlas RFID Solutions

On September 29, 2021, Hexagon acquired technology hardware company Atlas RFID Solutions from Kayne Anderson Capital Advisors and Benford Capital Partners

Acquisition Highlights
  • This is Hexagon’s 8th transaction in the Technology Hardware sector.
  • This is Hexagon’s 20th transaction in the United States.
  • This is Hexagon’s 2nd transaction in Alabama.

M&A Deal Summary

Date 2021-09-29
Target Atlas RFID Solutions
Sector Technology Hardware
Buyer(s) Hexagon
Sellers(s) Kayne Anderson Capital Advisors
Benford Capital Partners
Deal Type Add-on Acquisition

Target

Atlas RFID Solutions

Birmingham, Alabama, United States
Atlas RFID Solutions is a developer and marketer of Jovix, an award-winning material control application purpose-built for the capital asset market. Jovix combines web-based server software with mobile and auto-ID technologies to extend access to information to decision-makers in the field, enabling digitization and automation of paper-based data collection processes. Atlas RFID Solutions was founded in 2007 and is based in Birmingham, Alabama.

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Buyer(S) 1

Buyer

Hexagon

Stockholm, Sweden

Category Company
Founded 1975
Sector Information Technology
Employees24,091
Revenue 5.4B EUR (2023)
DESCRIPTION

Hexagon is a provider of integrated design, measurement and visualisation technologies. Hexagon was founded in 1975 and is based in Stockholm, Sweden.


DEAL STATS #
Overall 70 of 83
Sector (Technology Hardware) 8 of 11
Type (Add-on Acquisition) 65 of 77
State (Alabama) 2 of 2
Country (United States) 20 of 25
Year (2021) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-16 Immersal

Helsinki, Finland

Immersal is a provider of spatial mapping and visual positioning solutions used to produce augmented reality (AR) applications. Immersal was founded in 2015 and is based in Helsinki, Finland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-10 Minnovare

Perth, Australia

Minnovare is a provider of drilling technology that improves the speed, cost and accuracy of underground drilling. Minnovare was founded in 2012 and is based in Perth, Australia.

Buy -

Seller(S) 2

SELLER

Kayne Anderson Capital Advisors

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1984
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kayne Anderson Capital Advisors is an alternative investment management firm focused on hedge funds, public funds, energy private equity, growth private equity, real estate private equity, and mezzanine finance opportunities. Kayne's energy private equity group focuses on $20 to $100 million investments in high-growth exploration and production, midstream and oilfield service companies. The energy group considers both majority or minority stakes in public and private businesses. Kayne's growth private equity practice involves structured investments in public and private companies looking for capital to finance expansion. This group will also consider middle-market leveraged transactions and management buyouts. Kayne's real estate private equity group invests in established, cash-flow generating projects. Areas of interest include student housing and campus-oriented retail properties, amongst other opportunistic investments. The Group looks for acquisitions of $25 to $100 million. Kayne's mezzanine team looks to provide $20 to $35 million of capital for mid-market businesses with $100 to $500 million of sales and $10 to $50 million of EBITDA. Kayne Capital Advisors was formed in 1984 and is based in Los Angeles with additional offices in Armonk, New York; New York City, and Houston.


DEAL STATS #
Overall 77 of 85
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 30 of 34
State (Alabama) 1 of 1
Country (United States) 67 of 73
Year (2021) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-17 Black Knight Energy

Santa Clarita, California, United States

Black Knight Energy is a private energy company focused on the acquisition and development of large, cash flowing oil and natural gas assets across the Lower 48. Black Knight Energy is based in Santa Clarita, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-19 Regiment Security Partners

Yonkers, New York, United States

Regiment Security Partners is a national, full-service security firm that provides unarmed and armed security guards, loss prevention specialists, special event officers, private investigators, and a host of security and risk management services. Regiment Security Partners is based in Yonkers, New York.

Buy -
SELLER

Benford Capital Partners

Chicago, Illinois, United States

Investor Investor Investor


Category Private Equity Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Benford Capital Partners is a private equity investment firm focused on leveraged buyouts and recapitalizations of smaller, lower middle-market companies in the US and Canada. Benford targets niche manufacturers, unique service companies and specialty distributors with minimum sales of $3 million, and at least $1 million in EBITDA. Avoided industries/transactions include retail, restaurants, software, start-ups, real estate, commodity products, and biotech. Benford Capital Partners was formed in 2004 and is based in Chicago, Illinois.


DEAL STATS #
Overall 5 of 10
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 4 of 6
State (Alabama) 1 of 1
Country (United States) 5 of 10
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-25 NucFil

Golden, Colorado, United States

NucFil is a manufacturer of highly engineered, proprietary storage and safety products, used primarily by Department of Energy (“DOE”) laboratories, for safe handling, transportation, storage, and analysis of nuclear material and waste. The Company’s specialized products are used in a wide range of applications including plutonium research & development, storage, transuranic waste transportation and disposal, and remediation. In addition, NucFil provides related services (gas analysis, characterization, certification, testing, and repair) on a recurring basis to numerous DOE entities. NucFil was founded in 1985 and headquartered in Golden, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-02 Argus Monitoring

Birmingham, Alabama, United States

Argus Monitoring provides a broad range of outsourced continuous seismic and environmental monitoring services through a “hardware-as-a-service” business model.

Buy -