Leadec, a portfolio company of Triton, has acquired Louisville, Kentucky-based Diversified Automation, an automation controls and software solution provider to the express parcel industry. No financial terms were disclosed. Citizens M&A Advisory was financial adviser to Leadec on the transaction.
PROVIDENCE, RI – Citizens M&A Advisory announced today that it served as the financial advisor to Leadec in its acquisition of Diversified Automation, Inc.
Founded in 2002, Diversified Automation is a leading automation controls and software solution provider to the express parcel industry. It serves global express parcel and e-commerce companies, prime contractors and integrators with end customers that include Amazon, FedEx Ground and UPS. Headquartered in Louisville, Kentucky, and with annual sales of approximately $100 million, Diversified Automation has more than 140 engineers and project managers operating in seven locations across the United States.
Leadec, a portfolio company of Triton, is headquartered in Stuttgart, Germany, and is a leading engineering, installation, maintenance and support service specialist for industrial facilities across their entire life cycle and their related infrastructure. Operating on four continents with 20,000 employees worldwide and almost 60 years of experience, Leadec has more than 300 facility sites and generated approximately $1 billion in sales in 2019.
“Engineering and process automation are the spearhead of Leadec’s service offering across the factory life cycle. Diversified Automation ideally completes our service portfolio with controls and software solutions for the parcel industry, a market segment which is thriving due to the growth of e-commerce. This also strengthens the technical profile of our U.S. operations,” said Markus Glaser-Gallion, CEO of the Leadec Group.
Christian Geissler, CFO of the Leadec Group, added: “Diversified Automation supports Leadec’s diversification into new end markets with high-growth potential. The deal strengthens the resilience of our business model.”
“We appreciate the Leadec team for the trust they place in Citizens as their exclusive buy-side advisor to identify high-value market segments and companies that expand their customer base and service offering in North America. Citizens’ extensive knowledge of the industrial automation sector allowed us to recognize this opportunity for Leadec to enhance its service offering by entering the high-growth parcel sortation market. We are thrilled that we were able to leverage our expertise and relationships in the industry to identify Diversified Automation as an ideal partner for Leadec,” said Matt Mueller, managing director at Citizens.
Citizens’ unique and differentiated approach to buy-side M&A advisory resulted in six completed buy-side transactions in 2020 with a combined enterprise value of $2.5 billion.
Citizens M&A Advisory specializes in middle-market mergers and acquisitions as well as later-stage financing transactions. Citizens combines sector intelligence with a client-focused approach to realize our clients’ true value. The Citizens team has closed more than 150 transactions in the last five years and has more than 60 M&A professionals specializing in a range of industries across the United States. Citizens M&A Advisory is part of Citizens Capital Markets, Inc., a subsidiary of Citizens Financial Group (NYSE: CFG).
For more information, please go to the Citizens M&A Advisory website.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $183.3 billion in assets as of December 31, 2020. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 2,700 ATMs and approximately 1,000 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.