Pentair Acquires Florida's G&F Manufacturing For $104 Million
Pentair PLC, a global provider of commercial and residential water solutions to customers in over 150 countries, has announced the successful acquisition of Florida’s G&F Manufacturing for approximately $108 million in cash at closing.
North Fort Myers-based G&F Manufacturing is a leading manufacturer of heat pumps for pools under the Gulfstream brand. G&F is a second-generation family business that has proudly made quality pool heaters in Florida since 1999.
Pentair Pool CEO Jerome Pedretti says the addition of the Gulfstream brand will enhance Pentair’s pool equipment offerings to customers in Florida and surrounding states in the Southeast.
“Heat pumps are an important offering for customers in critical geographical regions and align with sustainability trends for pool equipment. This strategic acquisition allows us to enhance our value proposition to our customers and aligns with our commitment to deliver smart, sustainable solutions to help our customers enjoy water and make the most of life’s essential resource.” – Jerome Pedretti
To learn more, visit gulfstreamheatpump.com.
Quikrete Holdings To Acquire Summit Materials For $11.5 Billion
Quikrete Holdings, the largest manufacturer of packaged concrete in the United States, has entered into a definitive agreement to acquire Summit Materials, a leading producer of aggregates, cement and ready-mix concrete, in a transaction valued at approximately $11.5 billion.
Atlanta-based Quikrete CEO Will Magill described the planned acquisition as “a significant milestone in our journey to expand our capabilities and geographic presence.”
“We are thrilled to welcome Summit into the Quikrete family. Summit is a recognized leader with a highly complementary portfolio of trusted aggregate, cement and ready-mix solutions. We look forward to working closely with the talented team at Summit to achieve our shared vision for the future.” – Will Magill
Both parties anticipate the deal will close sometime in the first half of 2025, subject to Summit shareholder approval, regulatory approvals and other customary closing conditions.
Joint Venture To Manufacture Next Generation Aircraft In Florida
Skyborne Technology, a UAV Corp company, and Atlantic Industrial Group (AIG) have announced a joint venture to manufacture multiple high efficiency drone models (SVTOLs) at Skyborne’s manufacturing facility in Gulf County, Florida.
According to the press release, the facility in Wewahitchka will serve as an in-house design center for airships and drones utilizing large-scale 3D printers to produce light weight airframe parts, cockpits and wing structures.
AIG currently holds several technology licenses that it plans to manufacture for government contracts and private security needs. These licenses include VTOLs (Vertical Takeoff and Landing), energy generation, and propulsion.
Company officials say the new joint venture with Skyborne will take AIG’s UAV and SVTOL technologies to the next level:
“We believe that this partnership will revolutionize the UAV industry by combining our expertise in lighter-than-air vehicles with AIG’s efficient manufacturing models for their UAV/VTOL drones.” – Skyborne CEO Michael Lawson.
To learn more, visit atlanticindustrialgroup.com.
Irving Tissue To Invest $600 Million In Georgia Facility Expansion
Irving Tissue, a manufacturer of premium household store brand paper products for America’s top retailers, has announced a $600 million expansion of the company’s manufacturing facility in Macon, Georgia.
The announcement was made on the fifth anniversary of Irving’s Macon arrival during which time the company has invested over $1.5 billion into the local community and created over 400 jobs. The new expansion dubbed Phase 3 will create an additional 100 jobs at Irving’s Macon plant.
According to the official press release, the $600 million expansion will include a third ThruAir Dry (TAD) paper making machine which will boost annual capacity by 75,000 tons or the equivalent of 15 million cases raising the Macon plant’s total capacity to 225,000 tons or 45 million cases.
Iving anticipates the Macon plant expansion will also provide a major boost to the company’s entire supply chain including their pulp mills in the Northeast as well as the six million acres of timberland Irving owns and manages.
UF To Lead Regional Hub For America's Semiconductor Industry
The University of Florida has been chosen to lead one of seven regional hubs as part of a $285 million initiative to accelerate America’s semiconductor industry and reduce dependence on foreign suppliers.
In collaboration with the Florida Semiconductor Institute, UF will lead the Florida/Caribbean Digital Innovations Semiconductor Center which includes strategic industry partners like NVIDIA, NHanced Semiconductor, BRIDG and Synopsys.
Volker Sorger, Ph.D., the Walden and Paula Rhines Endowed Professor of Semiconductor Photonics at UF’s Department of Electrical and Computer Engineering described the significance of the project and the university’s leadership role:
“As the leader of one of seven national centers, UF will oversee regional research and development initiatives, facilitate the commercialization of new technologies, and drive workforce development programs.” – Volker Sorger, Ph.D.
For more information, visit UF’s Department of Electrical & Computer Engineering.
Lancaster Colony To Acquire Georgia Sauce Production Facility
Lancaster Colony, an Ohio-based manufacturer and marketer of specialty food products for the retail and foodservice markets, has announced their planned acquisition of a large sauce and dressing production facility in Georgia.
The 300,000-square-foot facility in Atlanta is currently owned and operated by Illinois-based Winland Foods, a global manufacturer of private label and branded foods for retail and co-pack customers.
According to the official press release, the asset purchase transaction valued at approximately $75 million is expected to close in the first quarter of 2025 with Lancaster Colony CEO David Ciesinski describing the acquisition as “a strategic addition to our manufacturing network.”
“This facility will benefit our core sauce and dressing operations through improved operational efficiency, incremental capacity, and closer proximity to certain core customers while enhancing our manufacturing network from a business continuity standpoint. We look forward to welcoming the plant employees to the Marzetti team.” – David Ciesinski
In addition to several well-known retail brands of breads, sauces and dressings, Lancaster Colony and its wholly owned subsidiary T. Marzetti Company manage a growing portfolio of exclusive license agreements with national chains including Arby’s, Chick-fil-A, Olive Garden and Texas Roadhouse.
For more information, visit lancastercolony.com.
MidOcean Partners Acquires Florida Auto Parts Manufacturer
MidOcean Partners, a New-York-based alternative asset manager specializing in middle market private equity and structured capital, has acquired Arnott Industries (“Arnott”) a well established, Florida-based manufacturer of air suspension products for the automotive aftermarket.
Merritt Island-based Arnott was founded in 1989 and has grown to become an industry leaders as a designer, manufacturer and distributor of more than 800 replacement air suspension products with OE quality components for light passenger vehicles.
Arnott proudly designs and manufactures their air suspension products in Florida in a nearly 300,000-square-foot facility including the eRide series, a new line of electronic air struts and shocks for the Audi, Jaguar, Land Rover and Porsche aftermarket.
According to the official press release, the acquisition marks MidOcean Partners’ fourth investment in the auto aftermarket industry over the last five years.
Contact CII Today
If you own an established manufacturing business in Florida or Georgia and would like to get a better understanding of the current market value of your company and important steps you can take today to maximize that value, get in touch with a CII business advisor today.