It's just business: Manufacturing moves from ABB, Motion, Cofactr, and more
As manufacturers strive to optimize and improve profitability, they often use various business strategies to stay competitive. These actions include mergers, acquisitions, promotions, layoffs, funding, and much more. Below are just a few of the companies that are making moves and making headlines in the industrial sector.
Personnel: MISTRAS Group, Inc. has chosen Natalia Shuman to be its new President and CEO. The company, which offers integrated technology-enabled asset protection solutions, chose Natalia because of her decades of leadership experience, her ability to scale billion-dollar enterprises through organic growth and M&A, and her track record of fostering strong teams and delivering innovative, value-driven solutions. In a recent quote, Natalia said, “I’m honored to join MISTRAS Group to lead the Company into its next phase of growth. Working alongside Manny, the Board of Directors, and the leadership team, I am committed to building on the strong foundation established and driving meaningful value for all our stakeholders."
Learn more
Acquisition: ABB, a technology leader in electrification and automation, has officially completed its acquisition of Aurora Motors, a $4 million U.S. vertical pump motors provider. The terms of the transaction, which was initially announced on November 4, 2024, were never disclosed. The acquisition will allow ABB’s NEMA Motors Division to enhance its product offering, expand its supply chain, and improve support to its global customer base.
Learn more
Acquisition: Motion has signed an agreement to acquire the operating assets of U.S.- based International Conveyor and Rubber (ICR), which specializes in the sale, installation, repair, and maintenance of conveyor belts and related system products. Motion, a distributor of maintenance, repair and operation replacement parts, and a provider of industrial technology solutions, will add ICR to its Motion Conveyance Solutions business unit. In a recent quote, James Howe, President of Motion, said, “ICR is highly complementary to Motion, adding seven strategic locations that expand our reach. ICR introduces new customers and end markets, allowing us to broaden our offerings. We are thrilled to welcome the highly talented ICR employees to the Motion team, including Kory and the other owner-operators, who will continue to play an integral role in the business.
Learn more
Acquisition: Motion, a distributor of MRO replacement parts and a provider of industrial technology solutions, has announced plans to acquire the operating assets of Canadian-based Stoney Creek Hydraulics, which specializes in hydraulic and pneumatic cylinder manufacture/repair. In a recent quote, James Howe, President of Motion, said, “As we continue to execute our acquisition strategy to grow our services, we are pleased to welcome Stoney Creek Hydraulics employees to Motion. Their skills and capabilities will bolster our hydraulic offering in Canada and complement our mechanical repair services in the region.”
Learn more
Capital: Cofactr has closed its $17.2 million Series A round of funding. The company, which specializes in supply chain and logistics management platforms, received investments from Bain Capital, Y Combinator, Floating Point Ventures, Broom and DNX. Cofactr plans to use the money to scale its go-to-market efforts, grow its suite of supply chain risk management and process tools, and introduce additional product categories. In a recent quote, Matthew Haber, CEO and Co-founder of Cofactr, said, “Traditional supply chain management has left serious gaps for innovative companies navigating the electronics and mechanical spaces. We’re filling them by creating a seamless link between Product Lifecycle Management (PLM), Enterprise Resource Planning and Manufacturing Execution Systems (MES).”
Learn more
Acquisition: HANZA AB has agreed to acquire Leden Group, a contract manufacturer in sheet metal, machining and complex assembly. HANZA, a knowledge-based manufacturing company that modernizes and streamlines the manufacturing industry, hopes the acquisition will strengthen its manufacturing cluster and increase its capacity and expertise in advanced mechanics manufacturing. In a recent quote, Erik Stenfors, CEO HANZA, said, "The acquisition of Leden is an important step in achieving our goals under our strategy, HANZA 2025. With Ledens strong market position and technological expertise, we are significantly strengthening our offer."
Learn more