–Transaction Represents Convergix’s Fourth Acquisition in Plan to Build a Market Leading Automation Solutions Provider Targeting a $500 Billion+ Global Market–
DETROIT, MI and BRIDGMAN, MI April 3, 2023 – Convergix Automation Solutions (“Convergix”), an automation solutions company backed by leading private equity firm Crestview Partners (“Crestview”), has completed the acquisition of Eagle Technologies (“Eagle”), a Bridgman, Michigan-based systems integrator specializing in turnkey automated production and testing solutions. Following Convergix’s acquisitions of JMP Solutions in August 2021, Classic Design in February 2022, and AGR Automation in August 2022, Eagle marks the fourth acquisition 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.
With operations dating back to 1953, Eagle is a leading designer, developer, and integrator of innovative and high-value automated systems to multinational customers across a variety of sectors, including electric vehicle & battery, life sciences, and consumer products. With end-to-end systems integration capabilities and advanced product testing capabilities, Eagle’s nearly 300 employees work across three locations in southwest Michigan. Eagle’s President Emeritus Mike Koziel will remain in an advisory role, and its President Brandon Fuller will continue in his current leadership role.
“The acquisition of Eagle accelerates Convergix’s growth and adds significant scale and capabilities to the platform, bringing Convergix’s pro forma revenue to approximately $250 million,” said Mike DuBose, Executive Chairman of Convergix. “Eagle brings longstanding customer relationships and market-leading technical capabilities serving a variety of strategic end markets. We are excited to partner with the Eagle team to continue building a world-class provider of custom automation solutions and services to global customers, and we look forward to leveraging our existing operations across North America, Europe, and Asia to create more opportunities for Eagle to continue delivering exceptional customer solutions.”
Mike Koziel noted, “I am immensely proud of the innovative capabilities, quality solutions, exceptional customer relationships, and most importantly the outstanding team and culture that we have built and nurtured every day at Eagle. The Eagle team is thrilled to join Convergix and to leverage its operational expertise, systems and experience to accelerate Eagle’s growth and enhance our ability to serve our valued customers.”
Following the acquisition of Eagle, Convergix has over 900 employees in 25 locations globally serving a broad range of end markets. Convergix has extensive experience delivering innovative solutions to customers in sectors including food and beverage, electric vehicles, renewable energy, life sciences, consumer products, automotive, general industry and more.
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 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 Eagle Technologies
Originally founded in 1953, Eagle Technologies is a leading provider of engineering and factory automation solutions to diverse customers across the globe with extensive expertise in assembly, test, and process applications, industry 4.0 solutions, and robotics. Headquartered in Bridgman, MI with over 1,000 installations worldwide and a focus on developing and training local engineers, Eagle is an established integrator providing automated manufacturing services to some of the world’s most dynamic businesses. For more information, please visit eagletechnologies.com/.