by webadmin | Aug 31, 2022 | Press Release
–Transaction Represents Convergix’s Third Acquisition in Plan to Build a Market Leading Automation Solutions Provider Targeting a $500 Billion+ Global Market–
DETROIT, MI and ARBROATH, SCOTLAND August 31, 2022 – Convergix Automation Solutions (“Convergix”), an automation solutions company backed by leading private equity firm Crestview Partners (“Crestview”), has completed the acquisition of AGR Automation (“AGR”), a UK-based provider of custom, high-performance automation design and systems integration primarily to the life sciences industry. Following Convergix’s acquisitions of JMP Solutions in August 2021 and Classic Design in February 2022, AGR marks the third investment in Crestview’s strategy to build Convergix into a diversified automation solutions provider targeting the global $500+ billion market, with a particular focus on the $70 billion global systems integration and connectivity segments. Financial terms of the transaction were not disclosed.
Founded in 1970, AGR is a leading designer, developer, and integrator of innovative and high-value automated systems to multinational customers across a variety of sectors, including life sciences and consumer goods. With end-to-end systems integration capabilities and a focus on precision applications, AGR’s approximately 130 employees work across three locations in Scotland, England, and Northern Ireland. AGR’s Managing Director Derek Gaston will remain in an advisory role, and its senior managers will continue in their current leadership roles.
“The acquisition of AGR and its subsidiary company Aylesbury Automation accelerates Convergix’s planned global expansion and marks our first foray into Europe,” said Mike DuBose, Executive Chairman of Convergix. “AGR brings market-leading technical capabilities and exposure to strategic end markets such as life sciences and consumer goods, while expanding Convergix’s capacity for growth. We are excited to partner with the AGR team to continue building a world-class provider of custom automation solutions to global customers. AGR’s focus on engineering quality and commitment to customer satisfaction are well aligned with Convergix’s culture and strategy. We look forward to leveraging our existing operations across North America and India to create more opportunities for AGR to deliver exceptional customer solutions.”
Derek Gaston noted, “I am honored to have been part of building an innovative and high-quality provider of automated systems, which would not have been possible without the hard work and commitment of our exceptional team members and the loyalty of our customers. The AGR team is excited to join Convergix and to leverage its operational expertise to accelerate AGR’s growth and enhance our ability to serve our valued customers.”
About Crestview Partners
Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with approximately $10 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and backgrounds in private equity, finance, operations and management. Crestview has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: industrials, media and financial services. For more information, please visit www.crestview.com.
About Convergix Automation Solutions
Convergix Automation Solutions elevates the automation industry through comprehensive products, technology and services that improve productivity and maximize talent. By closing gaps in automation and through earned trust, Convergix leverages creative and solutions-oriented engineering and technology to allow its customers to reach their complete potential to develop, create and drive industries forward. For more information, please visit www.convergixautomation.com.
About AGR Automation
Founded in 1970, AGR is a leading automation integrator with extensive expertise in vibratory and centrifugal technologies, vision recognition, and robotics. Headquartered in Arbroath, Scotland with three locations across the U.K. and a strong commitment to innovation, AGR is an established partner capable of delivering highly specialized solutions across diverse systems and applications. For more information, please visit www.agr-automation.com.
by webadmin | May 26, 2022 | Press Release
Automation Integrator Created to Become Global Market Leader in Fragmented Industry
NEW YORK and DETROIT – Crestview Partners (“Crestview”), a leading private equity firm, is announcing the launch of its portfolio company, Convergix Automation Solutions (“Convergix”), as part of its strategy to build a $1 billion global automation solutions company. Convergix seeks to benefit from significant tailwinds driving growth in the automation industry driven by evolving labor markets, affordable robotics and demand for resilient supply chains.
Crestview invested in Convergix to create a global automation solutions provider, following its ownership of JR Automation from 2015 to 2019. Crestview has allocated up to $200 million in equity capital to support Convergix and fuel its growth. To date, the company has acquired two established automation companies – JMP Solutions (“JMP”) and Classic Design (“Classic”).
As a global solutions provider, Convergix offers its customers technical expertise and creative solutions to dramatically improve and enhance their processing, manufacturing and logistics operations. Targeting the global $750+ billion automation market, with a particular focus on the $150 billion global automation systems and connectivity segments, Convergix delivers best-in-class technology, integration and support to customers in a variety of industries.
The company specializes in automation, robotics, information systems, material handling and control systems and is positioned to be an innovative automation partner providing comprehensive solutions to a wide range of industries and applications. Today, the company provides automation solutions to companies in industries ranging from food and beverage, consumer products and postal and courier industries to the automotive, semiconductor, energy, water and wastewater industries.
“We are making proactive investments in the future,” explains Mike DuBose, Executive Chairman of Convergix and Operating Executive at Crestview. “Our experience in automation has demonstrated that companies, regardless of industry, prefer a single automation source for multiple applications, yet functionally the industry is highly fragmented. Convergix solves that problem by providing scalable automation solutions across our customers’ entire value chains. Our strategy is to build on these capabilities to become the leading automation partner to our customers while relentlessly driving to provide best-in-class flexible solutions.”
Convergix’s first two acquisitions, JMP and Classic, provide a strong base of automation engineering capabilities and blue chip customer relationships as well as a global geographic reach, with 18 offices throughout the U.S. and Canada and a scalable engineering and manufacturing presence in India. Headquartered in London, Ontario, JMP provides controls engineering services and system design and integration solutions to a diverse customer base. Classic, based in Troy, Michigan, has been a leading supplier of automation systems design and integration solutions for nearly 50 years. Together, the two operating companies advance Convergix’s customers’ capabilities by helping their facilities and equipment to run more efficiently with improved quality and at a lower cost.
“Through strategic acquisitions, our streamlined approach to integration, and our team’s deep knowledge and experience, we are building the foundation for something that is unique in our industry,” says Convergix Chief Executive Officer John Bubnikovich. “We operate at the intersection of technology, people, integration and support, which enables us to provide solutions that empower our customers to reach their full potential and compete on a new level.”
Bubnikovich and Convergix’s leadership team will be on hand for one-on-one conversations at Automate, June 6-9, 2022, in Detroit, Michigan. Automate is the largest solutions-based showcase of robotics, vision control, motion control and automation in North America.
About Crestview Partners
Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with approximately $10 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: industrials, media and financial services. For more information, please visit www.crestview.com.
About Convergix Automation Solutions
Convergix Automation Solutions elevates the automation industry through comprehensive products, technology and services that improve productivity and maximize talent. By closing gaps in automation and through earned trust, Convergix leverages creative and solutions-oriented engineering and technology to allow its customers to reach their complete potential to develop, create and drive industries forward. For more information, please visit www.convergixautomation.com.
