Mergers & Acquisitions
Rockwell acquires Middleton manufacturer
Milwaukee-based Rockwell Automation Inc. announced it has purchased the assets of SoftSwitching Technologies, a provider of industrial power quality detection and protection systems located in Middleton, Wis.
SoftSwitching Technologies’ solutions improve uptime in manufacturing production by identifying and correcting brief power disruptions called “voltage sags.”
SoftSwitching Technologies’ battery-free, environmentally friendly products provide cost and performance advantages over battery-based, three-phase uninterruptible power supplies or constant voltage transformers. The global, centralized intelligent network system also provides power grid alerts so manufacturers can monitor activity and correlate power quality events with unscheduled downtime, saving hours of guesswork and mechanical diagnostics.
“This acquisition provides the necessary resources to extend all SoftSwitching Technologies’ unique technologies into many more applications through the Rockwell Automation global channels network,” said Jason Doescher, SoftSwitching Technologies’ chief financial officer.
SoftSwitching Technologies will be aligned within the Rockwell Automation Control Products & Solutions operating segment. Financial terms of the transaction were not disclosed.
Portfolio company acquires Elkhorn manufacturer
Dispensing Dynamics International Inc. (DDI) announced it has acquired The Colman Group Inc., which does business as San Jamar-Chef Revival in Elkhorn.
DDI is a portfolio company of Kinderhook Industries LLC.
Financial terms of the transaction were not disclosed.
The transaction represents the 23rd follow-on acquisition completed by Kinderhook Industries’ portfolio companies in the past three years.
Based in City of Industry, Calif., DDI is a leading global provider of proprietary plastic injection molded paper towel, tissue, soap, and air care dispensing systems for the away-from-home washroom industry.
Paul Cifelli, managing director at Kinderhook Industries, said, “We are very excited to acquire San Jamar-Chef Revival, a recognized leader the AFH industry, due in large part to its exceptional management team and world class distribution network. This acquisition represents a pivotal point in DDI’s history as the combination of DDI’s product innovation and technology with San Jamar-Chef Revival’s distribution network positions the company for accelerated future growth.”
Milwaukee-based Robert W. Baird & Co. Inc. served as exclusive financial advisor to San Jamar-Chef Revival. Godfrey & Kahn served as legal advisor to The Colman Group.
Mayville Products Corp. sells cabinet lines
ELMA Americas announced an expansion of its Optima EPS operations with the acquisition of Stantron broadcast cabinets and APW Mayville datacenter cabinets from Mayville Products Corp. of Mayville, Wis.
“These newest assets demonstrate ELMA’s commitment to providing rock-solid infrastructure to broadcast, communications, military, datacenters and many other industries,” said Fred Ruegg, president of ELMA Americas, headquartered in Fremont, CA. “Adding Stantron and APW Mayville’s specialized products to the extensive offering of cabinets and enclosures, Optima EPS extends and expands our ability to safely and securely house high-availability datacenter assets and other specialty equipment regardless of the environment.”
“Stantron and APW Mayville found the perfect home,” said Dan Eder, owner of Mayville Products Corp., which sold the two brands along with existing products, designs and equipment. “ELMA and Optima EPS provide expertise and a path for the future for Stantron and APW Mayville.”
Financial terms of the transaction were not disclosed.
Journal Broadcast Group to buy 2 more Tulsa radio stations
Journal Broadcast Group, a subsidiary of Milwaukee-based Journal Communications Inc., announced that it has reached an agreement to purchase two more radio stations in Tulsa, Okla.
The company will acquire 106.9 KHTT FM (contemporary hits) and 92.9 BOB FM (adult contemporary variety from Renda Broadcasting Corp. The transaction is subject to Federal Communications Commission approval. Financial terms of the transactions were not disclosed.
Journal Broadcast Group currently owns three radio stations in Tulsa.
“We have high regard for Renda Broadcasting and their talented team and are very pleased to add these exceptional radio stations to our Tulsa cluster,” said Steven Smith, chairman and chief executive officer of Journal Communications. “The combination of these high quality stations will create a strong group that will continue to serve our listeners, customers and the entire Tulsa community. This transaction is consistent with our strategic goal of creating additional scale in existing Journal Broadcast markets.”
“We are pleased to have reached an agreement with Journal for our two Tulsa stations. This transaction will benefit both parties,” said Anthony Renda Sr., founder and president of Renda Broadcasting (RBC) of Pittsburgh.
