Industry Pulse: Recent Acquisitions From Konrad Technology, Hexagon AB, Modine, and More
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.
Spherea to Acquire Konrad Technology U.S. to Expand North American Presence
Type: Acquisition
Major Players: Spherea Group, Konrad Group, Konrad Technology U.S.
Spherea Group has announced its intent to acquire Konrad Technology U.S., the American subsidiary of Konrad Group, as part of a strategic expansion into the North American market. Based in Farmington Hills, Michigan, Konrad Technology U.S., formerly VI Engineering, specializes in engineering and integration services for Automated Test Equipment across defense, automotive, consumer products, and medical sectors.
The acquisition allows Konrad Group to streamline global operations while significantly enhancing Spherea's capabilities and customer reach in the U.S. The deal is expected to close over the summer, pending regulatory approval.
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Hexagon AB to Acquire APEI to Strengthen Geospatial Data Platform Capabilities
Type: Acquisition
Major Players: Hexagon AB, APEI
Hexagon AB has announced an agreement to acquire APEI, a French aerial mapping company specializing in geospatial data acquisition. APEI operates a private fleet of aircraft primarily serving France, neighboring European countries, and Africa, and has been a long-term partner contributing to Hexagon's Content Program—the largest aerial imagery and elevation model library in the U.S. and Europe.
This acquisition will enhance Hexagon's ability to meet growing demand for accurate, large-scale geospatial content and strengthen its position in key markets, including France's expansive geospatial data sector driven by governmental mapping initiatives.
APEI will be integrated into Hexagon's Geosystems division. The company is expected to generate approximately €3 million in revenue for 2025, with margins aligned with Hexagon's average. The transaction is pending regulatory approval and is expected to close by the end of Q2 2025.
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Modine to Acquire L.B. White to Strengthen Specialty Heating Solutions Portfolio
Type: Acquisition
Major Players: Modine, L.B. White
Modine, a global leader in thermal management technology, has entered into a definitive agreement to acquire L.B. White, a leading provider of specialty heating solutions for agriculture, construction, and special events industries.
L.B. White, headquartered in Onalaska, Wisconsin, manufactures direct-fired forced air, radiant, indirect-fired, and electric heating products. The acquisition will integrate L.B. White into Modine's HVAC Technologies product group, with the existing leadership team retained.
L.B. White anticipates fiscal 2025 revenue of $73.5 million. The enterprise value of the deal is approximately $112 million. Modine expects the acquisition to be immediately accretive to earnings and to generate future growth and cost savings through operational synergies and Modine's 80/20 operating model.
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E Tech Group Acquires JSat Automation to Expand Global Life Sciences Integration Services
Type: Acquisition
Major Players: E Tech Group, JSat Automation
E Tech Group has acquired JSat Automation, a Pennsylvania-based system integrator specializing in automation, IT/OT convergence, and compliance. JSat Automation will operate as "JSat an E Tech Group Company", with founder Jeetu Satpute joining E Tech's leadership team. The acquisition expands E Tech's global presence to 10 countries across three continents, adding significant expertise in life sciences automation.
JSat Automation maintains over 10 locations worldwide, including the United States, Costa Rica, India, the Netherlands, Romania, Singapore, Switzerland, and the United Kingdom. This marks E Tech Group's third acquisition since 2023, following purchases of E-Volve Systems and Automation Group.
E Tech Group CEO Matt Wise said the acquisition strengthens the company's ability to deliver manufacturing execution systems, lab automation, informatics, and robotics solutions globally. JSat CEO Jeetu Satpute noted that joining E Tech enhances client service capabilities and employee opportunities, positioning the combined entity as a powerhouse in life sciences with a broad suite of industry services.
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Fleetworthy Acquires Haul to Advance AI-Driven Fleet Compliance
Type: Acquisition
Major Players: Fleetworthy, Haul
Fleetworthy has acquired Haul, an AI-powered platform specializing in fleet compliance and safety automation. The acquisition provides Fleetworthy with automated document audits, intelligent driver onboarding, real-time compliance monitoring, and integration with telematics for proactive safety management. Haul's technology improves operational efficiency with self-service features and advanced analytics, helping fleets meet regulatory demands more effectively. Haul's co-founders will join Fleetworthy's leadership team, and the combined companies aim to set a new standard for AI-enabled fleet compliance across the transportation industry.
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