M&A Deal Summary

IR Acquires APSCO

On October 1, 2024, IR acquired manufacturer APSCO from TGP Investments, Whiterock Capital and BERKS Group

Acquisition Highlights
  • This is IR’s 14th transaction in the Manufacturing sector.
  • This is IR’s 27th transaction in the United States.
  • This is IR’s 1st transaction in Oklahoma.

M&A Deal Summary

Date 2024-10-01
Target APSCO
Sector Manufacturing
Buyer(s) IR
Sellers(s) TGP Investments
Whiterock Capital
BERKS Group
Deal Type Add-on Acquisition

Target

APSCO

Tulsa, Oklahoma, United States
APSCO is a designer, manufacturer, and sells pneumatic and hydraulic valves, cylinders, actuators, and control systems for the heavy-duty truck equipment markets. Air Power Systems products are used in a variety of end markets, including construction, oil & gas, waste and recycling, fluid power, utility and snow, and ice removal. APSCO was founded in 1964 and is based in Tulsa, Oklahoma.

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Buyer(S) 1

Buyer

IR

Davidson, North Carolina, United States

Category Company
Founded 1859
Sector Machinery
Employees18,000
Revenue 6.8B USD (2023)
DESCRIPTION

IR is a manufacturer of highly engineered products, including compressors, liquid ring pumps and blowers for various industrial, medical, environmental, transportation and process applications, pumps used in the petroleum and industrial market segments and other fluid transfer equipment, such as loading arms and dry break couplers, serving chemical, petroleum and food industries. IR was founded in 1859 and is based in Davidson, Wisconsin.


DEAL STATS #
Overall 48 of 48
Sector (Manufacturing) 14 of 14
Type (Add-on Acquisition) 42 of 42
State (Oklahoma) 1 of 1
Country (United States) 27 of 27
Year (2024) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-01 Blutek

Gorle, Italy

Blutek specializes in the design and production of highly engineered solutions for compressed air and nitrogen generation in mission-critical environments. Blutek was formed in 2002 and is headquartered in Gorle, Italy.

Buy -

Seller(S) 3

SELLER

TGP Investments

Kansas City, Missouri, United States

Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 57M USD
Size Small
Type Sector Agnostic
DESCRIPTION

TGP Capital Partners is a private equity fund that makes middle-market investments in profitable, growing companies. TGP primarily targets opportunities located in the Midwest US. TGP will consider both control and minority investments in manufacturing and business service companies with annual revenues of $15 to $50 million. Prospective transaction situations include industry consolidations, management buyouts, acquisitions, and growth financings. The fund is managed by TGP Investments, a Kansas City, Missouri based merchant bank.


DEAL STATS #
Overall 5 of 5
Sector (Manufacturing) 3 of 3
Type (Add-on Acquisition) 3 of 3
State (Oklahoma) 1 of 1
Country (United States) 5 of 5
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-09 Sunpro

Mandeville, Louisiana, United States

Sunpro is a provider of rooftop solar systems in the United States. Sunpro markets, designs, sells, installs, and maintains solar power systems on residential and commercial properties through their 3,600-person, full-time workforce of solar energy professionals with 56 locations in 22 states. Sunpro was founded in 2008 and is based in Mandeville, Louisiana.

Sell $825M
DESCRIPTION

Whiterock Capital is a private investment firm principally focused on acquiring small-cap ($1 to $5 million of EBITDA) private companies in the manufacturing, distribution, and business services sectors. The Firm prefers control investment situations where there is an opportunity to pursue add-ons. Whiterock Capital is based in Austin, Texas.


DEAL STATS #
Overall 1 of 1
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Oklahoma) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-25 Fab-Tech

Van Buren, Arkansas, United States

Fab-Tech is a precision fabrication machine shop that specializes in small parts and assemblies that are custom-built to customer design specifications for both OEM and contract manufacturers serving a wide range of industries. Their facility is a one-stop-shop incorporating primary processes such as cutting/punching and forming, as well as secondary processes such as welding, hardware installation, powder coating/painting, and printing. Fab-Tech was founded in 1988 and is based in Van Buren, Arkansas.

Buy -
DESCRIPTION

The BERKS Group is a division of the privately held News-Press & Gazette Company and the Bradley family holdings business. BERKS looks to acquire and invest in profitable manufacturing, education technology, and technology infrastructure businesses valued between $10 and $100 million. The Firm doesn't have an investment horizon and seeks to partner with strong brands led by talented management. The BERKS Group is based in Kansas City, Missouri.


DEAL STATS #
Overall 1 of 1
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Oklahoma) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-08 Trualta

Ottawa, Ontario, Canada

Trualta supports families managing care for loved ones at home via an online learning platform. In partnership with innovative healthcare payers, providers, government, and social service organizations, Trualta provides better care at a lower cost. Each partner organization is equipped with a customized learning portal offering on-demand, personalized skills-based training to help caregivers keep their loved ones at home for longer. Currently available in Canada and across 25 U.S. states, Trualta's evidence base offering is proving that trained, confident family caregivers can improve health outcomes and reduce costs. Trualta was formed in 2017 and is based in Ottawa, Ontario.

Buy -