Arsenal acquires automation solutions firm Innovative

• Arsenal acquired Eckhart in December 2021
• SVB Securities served as financial advisor to Innovative while Harris Williams LLC served as financial advisor to Arsenal and Eckhart
• Arsenal invests in industrial growth and healthcare companies

Arsenal Capital Partners has acquired Hudson, New Hampshire-based Innovative Products & Equipment Inc, an automation solutions provider that focuses on the medical device and life sciences markets.

Arsenal will merge Innovative with portfolio company Eckhart Inc. No financial terms were disclosed.

Arsenal acquired Eckhart in December 2021. Together, Innovative and Eckhart will provide specialized automation solutions.

Sal Gagliardo, an operating partner of Arsenal, said in a statement, “Innovative is the latest example of our commitment to invest significant capital behind the substantial growth in automation and expand our presence in attractive, specialized end markets, such as medical device and life sciences.”

SVB Securities served as financial advisor to Innovative while Ruberto, Israel & Weiner P.C. served as legal advisor.

Harris Williams LLC served as financial advisor to Arsenal and Eckhart while Kirkland & Ellis LLP served as legal advisor.

Innovative was founded in 1980.

Eckhart, based in Warren, Michigan, designs, builds, and sustains advanced industrial solutions used to solve complex manufacturing needs.

Arsenal Capital Partners invests in industrial growth and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds totaling over $10 billion, completed more than 250 platform and add-on acquisitions, and achieved more than 30 realizations.