M&A Deal Summary

Innovative Motion Technologies Acquires Check

On May 6, 2024, Innovative Motion Technologies acquired manufacturer Check from Sage Capital

Acquisition Highlights
  • This is Innovative Motion Technologies’ 1st transaction in the Manufacturing sector.
  • This is Innovative Motion Technologies’ 1st transaction in the United States.
  • This is Innovative Motion Technologies’ 1st transaction in Michigan.

M&A Deal Summary

Date 2024-05-06
Target Check
Sector Manufacturing
Buyer(s) Innovative Motion Technologies
Sellers(s) Sage Capital
Deal Type Add-on Acquisition

Target

Check

Troy, Michigan, United States
Check manufactures flexible heating elements and control systems serving various industries including healthcare, food service, construction, agriculture, marine, motorcycle, and aviation. Check was founded in 1993 and is based in Troy, Michigan.

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Buyer(S) 1

Buyer

Innovative Motion Technologies

Germantown, Wisconsin, United States

Category Company
Sector Electrical Equipment
DESCRIPTION

Innovative Motion Technologies is a global industrial technology platform and designer and supplier of unique interface and control solutions across a diversified set of OEM and aftermarket applications. The Company operates under two brands, Raffel Systems and Micro-Air. Each is well known and highly respected in their markets. Raffel Systems focuses on electro-mechanical controls for residential, healthcare, industrial, cinema, and hospitality markets. Micro-Air focuses on environmental controls for residential, recreational vehicles, HVAC, and marine applications. Innovative Motion Technologies is based in Germantown, Wisconsin.


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

Seller(S) 1

SELLER

Sage Capital

St. Louis, Missouri, United States

Investor Investor Investor


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

Sage Capital is a private equity firm that provides equity capital to established lower middle-market businesses located throughout North America. Sage looks for companies with EBITDA between $2 and $7 million and typically commits $2 to $15 million per transaction. Businesses of interest include value-added manufacturers, recurring-revenue service businesses, and distribution companies. Sage Capital will not invest in start-ups. Sage Capital was formed in 2004 and is based in St. Louis, Missouri.


DEAL STATS #
Overall 3 of 4
Sector (Manufacturing) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (Michigan) 1 of 1
Country (United States) 3 of 4
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-01 Livers Bronze

Kansas City, Missouri, United States

Livers Bronze designs, manufactures and installs architectural railing systems for commercial facilities. The Company offers railing systems across a full spectrum of materials (stainless steel, aluminum, bronze, glass, hardwood, metal cable and other materials), styles and types of finishes. Livers Bronze was founded in 1946 and is based in Kansas City, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-06 Schlafly

Maplewood, Missouri, United States

Schlafly is a craft brewery and operator of brewery restaurants. The company sells beers through wholesalers in a primary region that extends in a radius of approximately 300 miles around its main brewery. The company offers six year-round “flagship” styles and a wide assortment of seasonal and special-release beers. Schlaflyo was founded in 1991 and is based in Maplewood, Missouri.

Sell -