It's just business: Manufacturing moves from Sintavia, Apptronik, TriMas, 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.
Capital: Sintavia, LLC has received a $10 million subordinated debt investment from the Stifel North Atlantic AM-Forward Fund. Sintavia, which manufactures aerospace components, will use the money to refinance existing equipment loans and provide general working capital for the business. In a recent quote, Brian R. Neff, Sintavia’s Founder and CEO, said, “We are honored and humbled to be the launch investment out of the new Stifel North Atlantic AM-Forward Fund. It is great to see Stifel’s strong commitment to funding profitable, high-growth users of additive technology, and this new fund will certainly have a positive impact across the industry.”
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Acquisition: TE Connectivity plc has agreed to acquire Richards Manufacturing Co. from funds managed by Oaktree Capital Management, L.P. and members of the Bier family. TE Connectivity, which specializes in connectors and sensors, hopes the acquisition will help the company better serve electrical utilities in North America by combining complementary product portfolios and adding the expertise of the Richards team. In a recent quote, TE Connectivity CEO Terrence Curtin said, "One of the key pillars of our strategy is investing in long-term secular growth trends that further our commitments to being a trusted partner to customers around the world and creating value for our owners. We have been strategically investing in our Energy business over the past several years to be a growth driver for TE. We've benefited from our focus on utility scale renewables and grid reliability by providing our customers with innovative products required for the ongoing evolution of the energy grid.
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Acquisition: TriMas has completed its acquisition of GMT Gummi-Metall-Technik GmbH’s aerospace business, which manufactures tie-rods and rubber-metal anti-vibration systems for commercial and military aerospace applications. In a recent quote, Vitaliy Rusakov, Group President of TriMas Aerospace, said, “We are pleased to announce the acquisition of GMT Aerospace. GMT Aerospace brings a wide range of highly-engineered products, and advanced design and manufacturing capabilities that complement our existing portfolio, enhancing our offerings in the aerospace and defense sectors. We are also particularly excited about strengthening our relationships with key European aerospace and defense Tier 1 suppliers and original equipment manufacturers (OEMs) by establishing TriMas Aerospace’s manufacturing footprint in Europe. This acquisition further solidifies our commitment to expanding our market presence and delivering innovative solutions to the aerospace industry.”
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Capital: Apptronik has raised $350 million in a Series A round of funding, which was led by B Capital and Capital Factory, with additional investment from Google. The company, which specializes in AI-powered humanoid robotics, will use the money to scale operations, accelerate innovation, and grow its team. In a recent quote, Jeff Cardenas, CEO and co-founder of Apptronik, said, "We’re creating the world’s most advanced and capable humanoid robots, designed to work alongside humans in meaningful and transformative ways. By uniting cutting-edge AI with hardware engineered for meaningful interaction, we're shaping a future where robots become true partners in driving progress. It’s inspiring to have investors who believe in this vision and are committed to helping us bring it to life.”
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Acquisition: Mully Fulfillment, LLC has acquired a leading third-party logistics (3PL) provider, expanding its service portfolio to 13 clients. Mully Fulfillment hopes the acquisition will enhance its logistical capabilities and position the company as the fulfillment partner of choice for businesses of all sizes and industries. In a recent quote, Joe Simon, Partner at Mully Fulfillment, LLC, said, "We are thrilled to integrate this advanced 3PL capability into our operations. Our vision is to bring the same precision and efficiency that Detroit's automotive sector is known for into every facet of e-commerce fulfillment. Whether you're a startup, a subscription box service, or an established business, our commitment is to deliver unparalleled service and reliability to our clients around the globe."
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