Motion & Control Enterprises Expands Reach with Acquisition of North East Technical Sales
Deal News | Dec 02, 2024 | Frontenac
Motion & Control Enterprises (MCE), a leading supplier of technical fluid power, automation, flow control, and related services, announced the acquisition of North East Technical Sales, Inc. (NETS), a reputed distributor of control products and instrumentation solutions. Founded in 1973, NETS services industrial and municipal customers throughout the Mid-Atlantic region. This strategic acquisition is set to enhance MCE's presence in the flow control industry and offers NETS access to greater resources to meet and grow its customer base. Frontenac, a Chicago-based private equity firm, backs MCE and supports the company's growth objectives. The acquisition reflects Frontenac's executive-centric investment strategy, aimed at fostering market leaders across industrial and service sectors. The deal is welcomed by both companies, as they foresee a prosperous future leveraging combined strengths. The transaction not only boosts MCE's operational footprint but also aligns NETS owners' aspirations with enhanced growth opportunities.
Sectors
- Industrial Equipment Distribution
- Private Equity
Geography
- United States – Both Motion & Control Enterprises and North East Technical Sales operate primarily within the U.S., specifically across the Mid-Atlantic region.
Industry
- Industrial Equipment Distribution – The acquisition involves Motion & Control Enterprises and North East Technical Sales, both key players in the distribution of industrial equipment, including control products and instrumentation solutions.
- Private Equity – Frontenac, a private equity firm, is backing the acquisition, showcasing its role in facilitating investments and growth in the industrial sector.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Motion & Control Enterprises (MCE) | Acquirer | Company | A supplier of technical fluid power, automation, flow control, and related services, founded in 1951 and serving over 33,400 customers across 18 states. |
| North East Technical Sales, Inc. (NETS) | Target Company | Company | A value-added distributor of control products and instrumentation solutions for industrial and municipal clients, founded in 1973. |
| Frontenac | Private Equity Firm | Company | A Chicago-based private equity firm investing in lower middle market buyout transactions, focusing on consumer, industrial, and services industries. |
| David Yankowy | Leader at NETS | Person | Continued leader ensuring the operational integration of NETS under MCE. |
| Charles Hale | Chairman & CEO of MCE | Person | Chairman & CEO of Motion & Control Enterprises, overseeing the strategic direction including the acquisition. |