BOSTON, MA (March 1, 2019) – Transaction advisory firm Exit Strategies Group served as exclusive M&A advisor to Axis of New England and New York on its successful sale to Motion Industries, Inc., a subsidiary of Genuine Parts Company (NYSE: GPC).
Axis, with facilities in Danvers Massachusetts and Rochester New York, is a leading provider of advanced industrial automation products and engineered systems, specializing in robotics, motion controls, machine vision, sensors and IIOT technologies. Axis, an authorized distributor for many premier automation brands, helps clients in many industries automate their products and processes. Value-added assembly and custom-engineered mixed-technology systems feature prominently in the company’s value proposition. Founded in 1994 by Todd Clark, Axis is the market leader in New England and New York, and one of the largest independent automation technology providers in the U.S. Industries served by Axis include life sciences, pharmaceutical and biotech, medical, semiconductor, electronics, food and beverage, warehouse automation, packaging, machine tools, 3D printing and robotics.
Axis CEO Todd Clark said, “We’re pleased to be part of the Motion family. Their relationships, systems and financial resources will to allow us to expand our technical sales force and systems engineering and manufacturing capabilities more rapidly in the coming years. Selling to the right buyer was important to us. We are proud of the culture of excellence that we created at Axis and believe that Motion will allow us to continue that legacy and provide a great place for our employees to work and advance their careers.”
“Exit Strategies did a tremendous job guiding us through the process. Their automation industry knowledge, competitive bid process and creative deal making were essential in achieving a successful outcome”, Mr. Clark observed.
We are pleased to have advised Axis on the sale process and to have helped them achieve a great outcome. The acquisition by Motion represents a win for Axis’ shareholders, employees, customers and vendors. And Motion acquires one of the most respected and capable automation solution providers in the U.S.
We expect U.S. companies to continue to increase investments in automation and robotics to compete on the global stage and to improve productivity and profits. Trends driving industrial automation include the shortage of skilled labor and rising labor costs, increasing mass-personalization of consumer goods, growing internet connectivity, product miniaturization and the increased use of electronics in products, and the adoption of new enabling technologies such as AI. As a result, we expect the industrial automation technology mergers and acquisitions market to remain strong for a while.
About Motion Industries
Motion Industries, Inc., headquartered in Birmingham, Alabama, is an industrial distributor with annual sales of $4.9 billion. Its products include mechanical power transmission, electrical and industrial automation, hydraulics and pneumatics. It also provides systems design, fabrication and repair services. This is Motion’s third acquisition of an advanced automation solutions provider.
About Exit Strategies
Exit Strategies Group is a California-based merger and acquisition advisory and business valuation firm serving lower middle market companies in a variety of industries including automation and robotics distribution, system integration and manufacturing. For further information about our investment banking and M&A advisor services contact Al Statz, 707-781-8580. Terms of the Axis-Motion deal will not be disclosed.