Stevenson & Company completes the sale of C&D Robotics, Inc.
Result: Business Sold to European Strategic Buyer
Industry: Manufacturing – Material Handling – Robotic Palletizers
Stevenson & Company recently completed the sale of C&D Robotics, Inc. located in Beaumont, Texas, to Euroimpianti S.P.A. of Vicenza, Italy. Euroimpianti manufactures the internationally recognized Skilled brand of automation systems.
C&D Robotics is the leading manufacturer and integrator of gantry style robots, and custom-engineered equipment for industrial applications, including packaging, material handling, palletizing and distribution.
Stevenson identified Euroimpianti in its worldwide search for strategic and financial buyers. Stevenson initiated a dialog with the Italian equipment manufacturer and learned of its interest in a US acquisition. With the help of a dedicated management team and other professional advisors the purchase agreement was negotiated, due diligence completed and the transaction closed in the face of its Texas facility being impacted by Hurricane Ike and today’s economic uncertainty.
This transaction has accomplished the objectives of both parties. It allows the majority owner to exit the business and focus on other business interests and the European buyer to expand its product line and gain a significant presence in the US marketplace. The existing management team will continue to run the day-to-day operations and help integrate C&D’s gantry robots into the Skilled worldwide product offering.
Stevenson served as an excellent trusted advisor throughout. They provided me with precisely what I needed – an aggressive go-to-market approach, the guidance to present Aerostar’s story and future strategy, and the drive to get it successfully closed! And this is what retirement looks like!