Divestiture • Machinery

Investindustrial Acquires Procon

On February 2, 2023, private equity firm Investindustrial acquired machinery company Procon from Standex for 75M USD

Acquisition Context
  • This is Investindustrial’s 2nd transaction in the Machinery sector.
  • This is Investindustrial’s 12th largest (disclosed) transaction.
  • This is Investindustrial’s 6th transaction in the United States.
  • This is Investindustrial’s 1st transaction in Tennessee.

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M&A Deal Summary

Date February 2, 2023
Target Procon
Sector Machinery
Buyer(s) Investindustrial
Sellers(s) Standex
Deal Type Divestiture
Deal Value 75M USD

Target Company

Procon

Smyrna, Tennessee, United States
Procon is a provider of custom fluid solutions that combines collaborative design expertise, bespoke solution engineering, and a high-quality, highly-engineered portfolio of niche positive displacement pumps. Procon was founded in 1950 and is based in Smyrna, Tennessee.
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Buyer Overview 1

Buyer

Investindustrial

London, United Kingdom

Investor


Category Private Equity Firm
Founded 1990
PE ASSETS 11.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Investindustrial is an investment firm focused on creating global leaders through organic growth and acquisitions. The Firm is operationally driven and seeks opportunities in Southern Europe. Areas of interest include services, consumer, retail, leisure, and industrial manufacturing. Investindustrial has offices in London, Luxembourg, Milan, Lugano, Barcelona, Shanghai, and New York.


Deal Context for Buyer #
Overall 60 of 66
Sector: Machinery 2 of 3
Type: Divestiture 7 of 7
State: Tennessee 1 of 1
Country: United States 6 of 8
Year: 2023 1 of 3
Size (of disclosed) 12 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-21 Eataly

Torino, Italy

Eatal is a global food‑retail and dining group offering immersive culinary experiences through Italian restaurants, gourmet markets, cafes, and cooking schools. Eataly was founded in 2003 and is based in Torino, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-23 Della Toffola

Treviso, Italy

Della Toffola is a designer and manufacturer of machines and automated lines across a range of beverage sectors. Della Toffola was founded in 1958 and is based in Treviso, Italy.

Sell -

Seller Profile 1

SELLER

Standex

Salem, New Hampshire, United States

Category Company
Founded 1955
Sector Manufacturing
Employees3,700
Revenue 721M USD (2024)
DESCRIPTION

Standex is a multi-industry manufacturer in five broad business segments: Food Service Equipment Group, Air Distribution Products Group, Engineering Technologies Group, Engraving Group and the Electronics and Hydraulics Group with operations in the United States, Europe, Canada, Australia, Singapore, Mexico, Brazil, India, Turkey and China. Standex was founded in 1955 and is based in Salem, New Hampshire.


Deal Context for Seller #
Overall 8 of 8
Sector: Machinery 2 of 2
Type: Divestiture 7 of 7
State: Tennessee 1 of 1
Country: United States 7 of 7
Year: 2023 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-01 Sensor Solutions

Steamboat Springs, Colorado, United States

Sensor Solutions designs and manufactures magnetic sensors and accessories including digital switches and analog output sensors designed to measure speed, speed, direction, count, position, proximity, alignment, rotation angle, or the strength of a magnetic field. Sensor Solutions was founded in 1993 and is based in Steamboat Springs, Colorado.

Buy $10M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-31 Minntronix

Watertown, South Dakota, United States

Minntronix designs and manufactures transformers, inductors, sensors, coils, chokes, and filters for products focused on cable fiber, smart meters, industrial control and lighting, electric vehicles, and home security markets. Minntronix was formed in 1990 and is based in Watertown, South Dakota.

Buy $30M