Sustainable Tech Partner’s Post

More M&A activity in the #ITAD market. Why? Customers are seeking #channelpartners & #MSPs that deliver #sustainableIT services, #ewaste reduction capabilities and #recycling know-how...

We are thrilled to share the news that Pacific Avenue Capital Partners has signed a Put Option Agreement to acquire Purflux, the Filtration Business Unit of Sogefi S.p.A. This deal marks a significant milestone for Pacific Avenue for multiple reasons. Firstly, it confirms our ability to complete large complex multinational carve-outs ($100M+ of EBITDA) and be the buyer of choice for corporate sellers. Secondly, this acquisition expands Pacific Avenue's geographical reach, with Purflux being Pacific Avenue's first European HQ transaction. (The EU is a geography that Pacific Avenue intends to continue investing in). Finally, substantial co-invest was raised alongside current and new limited partners, highlighting Pacific Avenue's ability to complete large-scale transactions. You can find more information about this exciting development here: https://lnkd.in/d_cGuJHA #pacificavenuecapitalpartners #chrissznewajs #privateequity

VivoPower has announced a strategic heads of agreement to merge with Future Automotive Solutions and Technologies (𝗙𝗔𝗦𝗧) valuing the combined group at a proforma equity valuation of $1.13bn.   The proposed transaction ascribes an equity valuation of $556m to VivoPower, implying an equity value per VVPR share of US$101. Under the proposed terms, FAST would receive restricted shares in VVPR as consideration for the proposed merger. VivoPower insiders and affiliates would also agree to a voluntary lock up on their shareholding.    FAST is a Canadian headquartered hydrogen technology company that converts ICE (internal combustion engine) vehicles to run on hydrogen. It has office and factory locations in Canada and Japan. FAST was co-founded and led by one of the automotive industry's leading luminaries, Ken Okuyama, best known for being the chief designer of the Enzo Ferrari whilst working at Pininfarina.   The heads of agreement is exclusive for 90 days and non-binding until such time definitive transaction documents are executed. A target completion date of 31 December 2024 has been agreed and is conditional upon, among other things, the consummation of the previously announced business combination transaction between Tembo and Cactus Acquisition Corp. 1 Limited (CCTS), the satisfactory completion of a third-party fairness opinion, as well as the fulfilment of customary regulatory and merger transaction requirements.

The #industrials market is fueling a post-holiday M&A announcement spree this week, with several transactions targeting the industrials and manufacturing services space. Plus, signs that exits are finally making a comeback have emerged. Review the latest deals and announcements below. #merger #acquisition

Honeywell Announces Plan To Spin Off Advanced Materials Business To Shareowners Honeywell (Nasdaq: HON) 8th. Oct announced a plan to spin off its Advanced Materials business into an independent, U.S. publicly traded company, which is targeted to be completed by the end of 2025 or early 2026. Honeywell expects to execute the planned spin in a tax-free manner to its shareowners. As a leading global provider of sustainability-focused specialty chemicals and materials, this pure-play business will be well-positioned to benefit from an enhanced strategic focus and the financial flexibility to pursue innovation and growth opportunities through investment cycles. Further, the planned spin-off will enable Honeywell to progress its strategic priorities of accelerating organic growth, evolving its Accelerator operating system, and optimizing its portfolio. "Given the sustained market demand for advanced specialty chemicals and materials around the globe, we are confident now is the right time for this business to grow independently, leveraging its leading technologies and deep customer relationships. As a sector leader, this new company will have a greater strategic focus on innovation, enabling it to develop new, more sustainable solutions and products with next-generation chemistry to create further value for shareowners," said Vimal Kapur, Chairman and CEO of Honeywell. Kapur added, "Today's announcement is the latest step in the optimization of the Honeywell portfolio, a key priority I laid out in my first year leading the company. Through the powerful combination of strategic bolt-on acquisitions and subtractions of high quality but non-core business lines, we continue to enhance our portfolio mix and further tighten Honeywell's alignment to three compelling megatrends: automation, the future of aviation, and energy transition—underpinned by our Accelerator business models." https://lnkd.in/giJx-xCH #Honeywell #Advanced Materials #PUdaily

If you run an ASX listed company which is profitable and has a market capitalization under $50m you should be acquiring. The reality is that a sub $50m market cap company is going to get limited coverage and provide limited upside to its shareholders. It does however hold a unique position with its listed status giving it access to some of the cheapest capital around. There are plenty of quality SMEs that are purchasing off $5m of free cashflow which could be acquired at decent multiples immediately giving the listed entity and its shareholders an immediate value uplift. Some ideas. Verbrec Ltd should acquire a training or engineering firm. Metro Performance Glass should acquire either an entity its its supply chain or a smaller competitor. DECMIL should acquire an entity which has a substantially larger GP. I would suggest a specialized rquipment rental entity. In each case the access to capital, the market conditions and the overarching benefits to shareholders could be substantial. It will be interesting to see whether the micro cap ASX companies take a proactive or reactive approach to the market. #asx #takeover #mergersandacquisitions #capitalraising

New Deal in the Industrials Sector | Sale of KAP AG's 𝘱𝘳𝘦𝘤𝘪𝘴𝘪𝘰𝘯 𝘤𝘰𝘮𝘱𝘰𝘯𝘦𝘯𝘵𝘴 segment (MBO) Capitalmind Investec has advised KAP AG on the divestment of its 𝘱𝘳𝘦𝘤𝘪𝘴𝘪𝘰𝘯 𝘤𝘰𝘮𝘱𝘰𝘯𝘦𝘯𝘵𝘴 segment to the current management through a Management Buy-Out (MBO). The deal provides the segment with enhanced strategic focus and operational independence. 👉 KAP AG is a listed industrial holding company. The 𝘱𝘳𝘦𝘤𝘪𝘴𝘪𝘰𝘯 𝘤𝘰𝘮𝘱𝘰𝘯𝘦𝘯𝘵𝘴 segment specializes in the development and production of high-precision plastic and plastic-metal composite components. It primarily serves the automotive industry, with a focus on drive technology for comfort and assistance systems. Additionally, the segment supports the e-bike, energy, and med-tech sectors. It operates from three advanced production facilities in Germany and Hungary. Our deal team: Holger Truckenbrodt, Erwin Constantin Waider and Arthur Leonhard To find out more: https://lnkd.in/e7RHXJU7 #Industrials #MBO #precisioncomponents #sellyourbusiness #carveout

Q3 Sees Major Rebound in Poland’s Real Estate Investment Activity With the acquisition of Park Zgorzelec, we have embarked on an exciting journey. By the end of the third quarter, transaction volumes in the Polish investment market reached EUR 2.7 billion, marking a nearly 60% year-on-year increase and fueling optimism about the revitalization of the industrial real estate sector. The majority of transactions in the industrial sector took place within the Big Five hubs, maintaining their dominance in overall deal volume. Notably, warehouse investments in Q3 surpassed the total volume achieved in H1. Looking forward to further acquisitions for our group. Source: https://lnkd.in/egke9ykY

M&A deal number 263 of 2024 (so far) in the #sustainability market: Iron Mountain has acquired Wisetek, an #ITAD (IT asset disposition) service provider in Ireland, the Irish Examiner reported. Financial terms of the deal were not disclosed. Iron Mountain has been an active ITAD business buyer. Earlier acquisitions include Regency Technologies and ITRenew. Iron Mountain, founded in 1951, is based in Boston, Massachusetts. The company specializes in information management, storage, data center infrastructure, and asset lifecycle management. The Iron Mountain partner program serves #channelpartners, real estate brokers and strategic alliances. Example alliances typically involve environmental, hardware, software and interconnection businesses. Wisetek, founded in 2007 by Sean Sheehan, is based in Cork, Ireland. The company also has offices in the United Kingdom (Milton Keynes), the United States (Massachusetts, Virginia, Texas, and California), Fujairah, and Thailand (Laem Chabang), according to Wisetek's LinkedIn page. Wisetek employs approximately 400 people worldwide and holds a number of blue-chip customers including #Dell,# Google, Viacom CBS, and PFH, the Irish Examiner reported. Meanwhile, M&A activity in the ITAD market remains strong. Among the reasons: Annual spending on ITAD is expected to reach $34 billion by 2030, up from $16.8 billion in 2022, according to Research and Markets. That's a 9.2% compound annual growth rate (#CAGR), the researcher said. Complete story: https://lnkd.in/gma4bNsN

M&A deal number 256 of 2024 (so far): Tide Rock, an investment firm focused on #sustainable IT services, has acquired circular IT asset management firm Premier LogiTech  of Dallas, Texas. This is Tide Rock's second acquisition in recent days. The other involved Full Circle Electronics, backed by Tide Rock, acquiring Global Electronics Recycling (GER) -- an IT Asset Disposition (#ITAD) specialist. Premier LogiTech, founded in 2007, specializes in technology #logistics -- including product sourcing, warehousing, asset management, configuration services, fulfillment services, delivery, reverse services, product repair and reclamation, the company said. Tide Rock, founded in 2013, is based in Solana Beach, California. The unlevered buyout firm acquires companies with strong free cash flow and grows them to scale, while distributing high quarterly yield to its investors, the buyer said. Tide Rock typically acquires B2B (business to business) companies that have annual #EBITDA (earnings before interest, taxes, depreciation and amortization) of $2 million to $7 million. Read our complete report -- including statements from Tide Rock President Brooks Kincaid & Premier LogiTech CEO Scott Paul -- here: https://lnkd.in/eSMAtFGB #SupplyChainManagement #ITAssetManagement #ITAM #Recycling #ReverseLogistics #Logistics #MergersAndAcquisitions #ITservices #CircularEconomy