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Welcome back to our regular look at who's buying who in the manufacturing equipment world. We've rounded up the latest deals that matter to your business—from major industry shakeups to smaller strategic moves.
Keeping tabs on these acquisitions helps you stay ahead of the curve—whether you're wondering about future product lines, service changes, or where prices might be heading. So grab your coffee and let's dive into the latest manufacturing acquisitions and what they mean for your equipment decisions.
Highlights:
- Hexagon to acquire Septentrio to expand and strengthen its positioning technology, driving greater adoption of autonomous systems.
- Manitex, a provider of lifting solutions and construction rentals, is now a subsidiary of Tadano Ltd., an OEM of lifting solutions.
- Security tools distributor Lockmasters has acquired Orchard Lock Distributors for its specialized door access solutions.
- AI cybersecurity expert Darktrace has proposed an acquisition with Cado Security to enhance its products with Cado's forensic tech.
- GSC Technologies has been purchased by private equity firm Speyside, which intends to heavily invest in its growth.
Hexagon Acquires Septentrio for Navigation, Autonomy Applications
Hexagon is set to acquire Septentrio NV, an OEM provider of Global Navigation Satellite System (GNSS) technologies, to expand the market reach of resilient assured positioning solutions.
Combining Septentrio's GNSS platform with Hexagon's positioning portfolio, including sensor fusion, anti-jamming, correction services, and perception technologies, Hexagon will ensure greater accessibility to high-accuracy, high-performance positioning technology with low SWaP (Size, Weight, and Power) characteristics. The combination will accelerate the adoption of autonomous systems and address the needs of high-growth segments like robotics, UAVs, autonomy, and others.
Based in Belgium, Septentrio will continue to operate its business model of supplying state of the art GNSS technology and products to its large base of OEM customers. Septentrio will be reported within Hexagon’s Autonomous Solutions division.
Manitex International Becomes Subsidiary of Tadano Ltd.
Manitex International, Inc., a manufacturer of cranes and lifting solutions, has been acquired by Tadano Ltd., an OEM and distributor of cranes and lifting solutions in an all-cash transaction valued at $223 million. Manitex is now a wholly owned subsidiary of Tadano, and Manitex's shares are no longer publicly traded.
Headquartered in Bridgeview, Illinois, Manitex manufactures truck cranes, aerial work platforms, specialized lifting solutions, and construction equipment rentals throughout facilities in the United States, Italy, and Romania. Its globally recognized brands include Manitex, PM, Oil & Steel, Valla, and Rabern Rentals.
Founded in 1919 and headquartered in Takamatsu, Japan, Tadano is an original equipment manufacturer and distributor of construction and vehicle-mounted cranes, aerial work platforms, and other specialized material handling solutions sold globally under a set of brands.
Lockmasters Acquires Orchard Lock Distributors for its Door Security Solutions
Lockmasters, Inc., a Kentucky-based distributor of security tools, has acquired Orchard Lock Distributors, LLC, a specialty wholesale distributor of commercial and architectural door locksets, door hardware, and security solutions.
Based in Hamden, CT, Orchard Lock Distributors has been operating for more than 50 years. Orchard Lock will now operate as the New England division of JLM Wholesale, Inc., a specialty wholesale distributor of commercial door hardware and security solutions that Lockmasters acquired in January 2024.
This acquisition marks the fourth add-on for Lockmasters and will enhance its shipping capabilities across the Northeastern U.S. while expanding its product and service offerings.
Lockmasters, not only a distributor for lock and tool manufacturers in the country including ASSA Abloy, Allegion, Bullseye, Kaba Mas, ILCO, and S&G, is also a manufacturer of a variety of tools and locks, including Magnum Drill Rigs, Neutralization Kits, Little Black Box Electronic Safe Opening tool, and its LockOne LKM10K High Security Life Safety Exit Devices.
Darktrace Set to Acquire Cado Security
Darktrace, a cybersecurity leader, has proposed acquiring Cado Security, a UK-based cyber investigation and response solutions provider. The acquisition aims to enhance Darktrace's cloud security capabilities by integrating Cado's advanced forensic investigation technology with its ActiveAI Security Platform.
This move follows Darktrace's recent October 2024 acquisition by Thoma Bravo,a leading software investment firm, and aligns with the growing importance of cloud security. Darktrace's CEO, Jill Popelka, emphasized the strategic importance of the acquisition in developing innovative cybersecurity solutions that help customers operate securely in an evolving threat landscape.
Cado's R&D teams in London and Bristol will work alongside Darktrace's established R&D centers in Cambridge, UK, and The Hague, Netherlands.
GSC Technologies, Inc. Acquired by Speyside Equity Advisors
GSC Technologies, Inc., a manufacturer of plastic containers and storage systems in North America, has been acquired by private equity firm Speyside. The acquisition aims to let Speyside continue its investment in GSC while also expanding the firm's growth.
Founded in 1982 with a single plastic molding machine, GSC Technologies is based in Quebec, Canada.
"GSC has a great growth and value-creation plan that we look forward to facilitating," said Eric Wiklendt, Managing Director at Speyside.
GSC CEO Dave Barrow noted, "My team and I look forward to working with the Speyside team to execute our strategic plan. Speyside has a strong operational background that clearly differentiates it from other investment groups. The new capitalization structure and value-creation system that Speyside brings will help us achieve our vision and drive results."
