Drakestar-供应链自动化报告 －2022年第四季度 SUPPLY CHAIN AUTOMATION Q4

SUPPLYCHAIN

AUTOMATION

Q42022

INDUSTRYUPDATE

NEWYORK|LONDON|PARIS|MUNICH|SANFRANCISCO

LOSANGELES|BERLIN|DUBAI

1

Data&LogisticsSoftware

STEVENDANA

PARTNER

NEWYORK

+16465940633

steven.dana@drakestar.

com

JAMESTURINO

PROVENTRACKRECORDINM&AANDGROWTHFINANCINGADVISORY

CONTACTTHESUPPLYCHAINAUTOMATIONDEALTEAM

(1)

MANAGINGPARTNER

NEWYORK

+19177570212

james.turino@

KAISBAKER

PARTNER

MUNICH

+4989149026526

kais.baker@

CHASEGIBBS

ANALYST

NEWYORK

+19043151715

chase.gibbs@

DrakeStarSecuritiesLLCisregulatedby

FINRA

andisamemberof

SIPC

.AllsecuritiesintheUK,aretransactedthroughDrakeStarUKLimited(FRN942020)anappointedrepresentativeofKessionCapitalLtd(FRN582160)whichisauthorizedandregulatedbythe

FinancialConductAuthority

.

(1)LedbypartnerpriortojoiningDrakeStar

2

End-of-Line

Automation

VerticalSoftware

ProductDesign&Development

ProcurementManagement

Operational

YieldOptimization&

ConditionMonitoring

CPQSoftware

Packaging

Supervisory

HMI&

SCADA

MES/MOM

Picking

Palletizing

InventoryTracking&

Validation

AdditiveManufacturing

WeldingAutomation

IndustrialElectrification

Design

PostProcess

Print

Note:Allproductandcompanynamesaretrademarks™orregistered®trademarksoftheirrespective3

Quality

Inspection

Manufacturing/OperationsLayer

DRAKESTARCOVERAGE–SUPPLYCHAINAUTOMATION

MARKETMAP

EnablingSystems&Technology

Cobots

Integrators&Services

Applications/EndofArmTooling

RoboticProgramming

CybersecurityIOT

ConnectivityIoT

LaserSystems

AGV/AMR

AR/VR

Safety

holders.Useofthemdoesnotimplyanyaffiliationwithorendorsementbythem.

MARKETOUTLOOK

DRAKESTARCOMMENTARY

$32.1B

Disclosedvalueforannouncedand/orcloseddeals

625

Dealsannounced

and/orclosed

DealValue($B)

$1.3B

$9.6B

$21.2B

M&APrivate

182

DealCount

31

412

PlacementPublicMarkets

2022Summary

•2022hasbeenarecordyearinsupplychainautomationwith625dealsannouncedand/orclosedtotaling$32B+intotaldealvalue.Dealvolumesexceededbreakoutactivityin2021when600dealswereannounced/closed.

•Dealvaluescontinuedanupwardtrendascomparedtothetrendlinefromprioryearsbutdroppedsignificantlyfromunprecedentedlevelsseenin2021($78.2B):5timesthelevelsseeninprioryears.Themajordriverofthechangeintotaldealvalueswasthereductionof“mega-deals”whichdominated2021(AspenTech,BlueYonder,Coherent,andothers),whichaccountedformorethan70%oftotalannounceddealvaluein2021.AutomationservicesandindustrialsoftwaresubsectorswerethemostactivesegmentsforM&A.Notabledealsincludethetake-privateofCoupabyThomaBravoandtheacquisitionofAltraMotionbyRegalRexnord.

•Privateplacementactivitynearlymatchedrecord-shatteringlevelsof2021with412dealsannouncedand/orclosedin2022withadealvalueof$9.6B.Roboticsandindustrialsoftwareaccountedformorethanhalfoftheprivateplacementstrackedacrossourtencoveredsubsectorsofindustrialautomation.ThemajorityoftheprivateplacementactivitywithannounceddealvaluesoccurredintheU.S.andChina,withmorethan90%ofthetop15privateplacementsrelatingtoCompany’sheadquarteredinthoseregions.

Q4Summary

•Q4announcedM&AdealvaluesignificantlyexceededthelevelsseenthroughQ3of2022,drivenbytwoQ4megaM&Adeals(AltraandCoupa).Inotherdealsofnote,NidecacquiredPAMA,anItalianmachinetoolmanufacturerfor$108MandWalmartacquiredAlertInnovation,aroboticsautomationcompanyfocusedonmaterial-handlingsolutions.

•Privatefinancingmarkethaddiminisheddealactivityinwhatwasadifficultfundingenvironment,buttherewerestill75dealsclosedtotaling$1.5Binannounceddealvalue.RoboticsdroveasignificantproportionofthedealvaluewithnotabledealsincludingLocusRoboticsraiseof$117M,Attaboticsraiseof$72M,VerdantRoboticsraiseof$46M.

•WhilepublicmarketactivityremainedsubduedinQ4,therewereseveralnotabledealswithinthespace.NauticusRoboticscompletedabusinesscombinationwithCleanTechAcquisitionCorpfor$561M.Additionally,EnOceanandTempoAutomationannouncedplansforSPACtransactions,withvaluesexceeding$100M.

Source:CapitalIQ,Pitchbook,LinkedIn,CompanyWebsites,DrakeStarDatabase

4

"Wealsoseesomelooseninginthelabormarketandsomemodestimprovementsinequipmentavailability"

JohnRoberts,CEO&Director|J.B.HuntTransport

Services

“They[customers]wanttobuyaportfolioofrobotsfromthesamevendor,controlledbythesamecontrolsystem,withapplicationsabovethematerialmovement,fulfillment,orderpickingandothers,andinthesamefacility,havethesamevendorsupportingthem”

AndersGustafsson,CEO|Zebra

“Rockwellhascontinuedinvestmentsinresiliencyandagility,alongwiththegraduallyimprovingsupply-chainenvironmenthelpedmorethanoffsetmanyoftheheadwindswefacedheadingintoQ1”

BlakeMoret,CEO|RockwellAutomation

“WedohaveanappetiteforM&A.MostoftheM&Awe'vedoneiskindofbeentuck-insize.Ithinkwehaveappetiteforbiggerthings”

NeilDougherty,CFO|KeysightTechnologies

“We'vebeenonthesidelinessince2019intermsofM&A[duetovaluationconcerns]…It'sadifferentmarketnowandweassumethatvaluationsaregoingtobecomemorereasonable”

GregSmith,President|Teradyne

“Thebigstory,ofcourse,inthefourthquarterwastheannouncementoftheTransporeonacquisition[$2.0B].Torefreshmemories,Transporeonoperatesaleadingcloud-basedtransportationmanagementplatform,poweringaglobalnetworkof145,000carriersand1,400shippers”

RobertPainter,CEO|Trimble

IndustryOutlook&Trends

M&A/FundraiseActivity

Automation

Drivers

“Barringasignificantdeteriorationinthemacro-economy…weexpectchannelexpansioncombinedwithnewproductstodrivegreaterthan20%growthforIA[IndustrialAutomation]in2023weightedtothesecondhalfoftheyear”

“Ithinkwe'veseenonthelaborside;wageinflationhasmoderatedabit”

“Oursolidleverageprofilecoupledwithstrongfree-cashflowgenerationandanundrawnrevolverof$3.5billiongivesus$4billionplusofM&Acapacity.Clearly,weareverywellpositionedfordisciplinedcapital

HoldenLewis,CFO|Fastenal

deploymentin2023”

JasonConley,CFO|RoperTechnologies

“Theeconomicheadwindsandincreasedcautionbyemployersduetoanuncertaineconomicoutlookareresultinginsofteninghiringbehaviors.Weseethisthroughextendedrecruitingandsalescyclesandsofterorderflowwithemployersincertainsectorsastheyare

exercisingmorecautionintheirdemandforcontingent

andpermanentrecruitmentoftalent”

JonasPrising,CEO|ManpowerGroup

GregSmith,President|Teradyne

“We'rewellpositionedfinanciallywithourstrongfreecashflowgenerationandbalancesheetcapacity,allowingustoactivelypursuestrategicM&Aopportunities”

RainerM.Blair,President&CEO|Danaher

“Caterpillarisseeinghealthydemand.Ourresultsreflecthealthydemandacrossmostendmarketsforourproductsandservices"

JimUmpleby,CEO|Caterpillar

Source:PitchbookTranscripts–Thisreportispublishedsolelyforinformationalpurposesandisnottobeconstruedasanoffertosellorthesolicitationofanoffertobuyanysecurity.Theinformationhereinisbasedonsourceswebelievetobereliablebutisnotguaranteedbyusandweassumenoliabilityforitsuse.

MARKETINSIGHTS

NOTABLEPUBLICCOMMENTARY(I/II)

"Wagesareincreasingandconsumerscontinuetotappent-upsavingstosupportspending.Weexpectconsumerswillcontinuetobejudiciousintheirspend,butresilient,whileprioritizingneedsoverdiscretionary.Webelieveinflationhaspeaked,butwillremainsticky

aswemovethroughtheyear”

HarryLawton,CEO|TractorSupply

“Thelayoffs,you'restartingtoseethatinthenews,whichthere'sthegoodnewsandthebadnews.Obviously,thebadnewsisthelayoffs,butthegoodnewsisthey'rereallystartingtofocusontheircashburnbecausetheyknowtheyneedtoholdontotheircashforalotlonger”

MichaelDescheneaux,FormerPresident|SVB

5

“Onthemanufacturingside,near-shoringcontinuestobethemostrobusttrenddrivingdemandinourmarkets.Weestimate3/4ofdemandcamefromtheseopportunities.Shiftsinthesupplychainismakingcompaniesmakelong-termdecisionstowardsregionalization,relocatingallmanufacturingprocesstoourmarkets”

LuisEnriqueGuajardo,CEO|PrologisProperty

“WhenwesawthereopeningintheU.S.,wesawanimportantsurgeofactivitythatcameasaresultofthat.It’sentirelypossiblethatwecouldseesomethingsimilarassociatedwithChinareopeningbecauseofcoursewegotthebenefittothatintheU.S.economyin2021andinto2022.Wehaven’treallyseenthatsameimpactfromChinayet,butit’sentirelypossiblethatwe’regoingtoseethatasaresultoftheirreopening.Plusoneassumesthatit’sgoingtobehelpfultosomeofthesupplychainchallengesthatwe’veseenintheworldovertimeaswell,whichhavethemselvesbeenacontributortoinflation”

RobinVince,CEO|BNYMellon

“Bringinginflationdownislikelytorequireaperiodofbelow-trendgrowthandsomesofteningoflabormarketconditions.Butrestoringpricestabilityisessentialtoachievingmaximumemploymentandstablepricesoverthelongerterm”

ChristopherWaller,President

FederalReserveBankofNewYork

“Evenwiththerecentmoderation,inflationremainshigh,andpolicywillneedtobesufficientlyrestrictiveforsometimetomakesureinflationreturnsto2%”

LaelBrainard,ViceChair

USFederalReserve

Insights

General

Market

Technology

Shifting

Reserve

Federal

“Wedogenerallyseeamorecautiousstanceandtighteningofcriteria,butoveralllenderbehaviorseemsmoreprecautionarythanasadirectresultofconsumercreditstress,otherthaninthesub-primecategories.Themarketisstillquitesegmentedwithlenderslookingtoacquireinprime.Mostbanks,infact,continuetohireandlend,andthisissupportedby

“Youseeinflationnowcomingdownbecausesupplychainshavebeenfixed,demandisshiftingbacktoservices,andshortageshavebeenabated."

“Themarketismovingtowardselectrification,andyoubestgetready…We’vebeenboldenoughtoinvestaheadofthatinflectionpoint,whichweknow[will]come”

JeromePowell,ChairUSFederalReserve

theU.S.labormarketwhichisstillverytight"

BrianCassin,CEO|Experian

JimRowan,CEO|Volvo

JimUmpleby,CEO|CAT

“Specialcircumstances,nowmostlyintherearviewmirror,pusheduppricesinparticularsectors,likeenergy,manufacturedgoodsandhousing.Butinflationthenspreadtoabroadsetofservices,andthisbroaderinflationiswhatshapestheoutlook

“Thoughthismaymakeittemptingtoconcludethatmonetarypolicyisbecomingoverlyrestrictiveandpoisedtocauseanunnecessaryeconomiccontraction,investorsmaybetoosanguineaboutprogressondisinflation…Thiseasingoffinancialconditionsduringacentralbanktighteningcyclecreatesaconundrumforpolicymakers…centralbankscouldpushbackagainstinvestoroptimism,emphasizingtherisksthatinflationarypressuresmaybemorepersistentthanexpected”

“Ourstrongperformancealsolendsconfidencetotheforwardexecutionongrowthinitiatives,includingexpandingourridesharebusiness,growingourEVplatform”

today”

LorieLogan,PresidentFederalReserveBankofDallas

TobiasAdrian,ChristopherErceg,FabioNatalucci|IMF

StephenScherr,CEO|Hertz

Source:PitchbookTranscripts

MARKETINSIGHTS

(II/II)

NOTABLEPUBLICCOMMENTARY

“WealsointroducedaprototypeofourfirstfullyelectricexcavatoratCES…Itshowsourfocusonelectrificationinresponsetocustomerpullforquieterandsafersolutions,whileexecutingjobsinaloweremissionmanner”

JoshuaJepsen,CFO|JohnDeere

“Strategicinvestmentsinnewlocomotiveproductswillcontinueshiftingtocompetitive,sustainablesolutionsthathelpcustomersmeettheircarbonreductioninitiatives,includinghybrid,fullbatteryelectricandalternativefuelpowersources,includinghydrogen”

6

Thisreportispublishedsolelyforinformationalpurposesandisnottobeconstruedasanoffertosellorthesolicitationofanoffertobuyany

security.Theinformationhereinisbasedonsourceswebelievetobereliablebutisnotguaranteedbyusandweassumenoliabilityforitsuse.

2022

OVERVIEW

7

180

$60

$16

450

412

408

400

$14

$50

350

130

$12

282

300

$40

$10

232

250

80

$8

200

$30

150

$6

$20

100

30

$4

50

$10

$2

0

$0

-20

$0

-50

DEALVALUESRETURNTOHISTORICALTRENDLINE,

ASDEALVOLUMEMAINTAINSRECORDHIGHS

PrivatePlacements($B)

MergersandAcquisitions($B)182

170

109

97

93

214

20182019202020212022

Value($B)DealCount

20182019202020212022

Value($B)DealCount

Note:Columnchartshowsannounceddealsonly

Note:Columnchartshowsannounceddealsonly

8

Source:CapitalIQ,Pitchbook,CompanyWebsites,DrakeStarDatabase

SUPPLYCHAINAUTOMATIONM&ATRANSACTIONS&VALUATIONS

2022:182DEALSANNOUNCED/CLOSEDAND$21.2BINDISCLOSEDDEALACTIVITY

#OFDEALSBYSEGMENT:2022

129

M&ADEALVALUATION/MULTIPLES

Jan2022–Dec2022

#ofAnnouncedandorClosedDeals/#ofDisclosedDeals

182/37

DisclosedDealValue($B)

$21.2B

Numberof$500M+Deals

8

Numberof$1B+Deals

3

DisclosedRevenueMultiple(Median)

6.4x

AllSegments

13

AdditiveManufacturing

DiversifiedAutomation

IndustrialSoftware

LaserSystems

Logistics

MachineVision

MotionControl

Robotics

AutomationServices

TestandMeasurement

51

37

10

19

13

98

DEALVALUE($B)BYSEGMENT:2022

$0.1B$0.7B$0.3B$1.0B

$1.7B

$7.2B

$8.8B

$0.9B$0.3B

$0.2B

Source:CapitalIQ,Pitchbook,CompanyWebsites,DrakeStarDatabase

Note:DealscategorizedbasedonDrakeStar’sprimarysegmentation;dealandsectorcrossovermayoccur

9

SUPPLYCHAINAUTOMATIONM&ATRANSACTIONS:2022

TOP15ANNOUNCEDDEALS

DEALSIZE

($M)

EBITDAMULTIPLE

REVMULTIPLE

TARGET

ACQUIRER

SEGMENT

DATE

TARGETCOUNTRY

Dec-22

9.8x

$8,000.0

-

IndustrialSoftware

23.7x

2.4x

$4,950.0

Oct-22

MotionControl

Dec-22

$1,957.6

-

-

Logistics

Feb-22

$1,300.0

-

-

MotionControl

Mar-22

$878.0

8.8x

-

MachineVision

Sep-22

$701.1

-

-

AdditiveManufacturing

MotionControlSep-22$700.0--

IndustrialSoftware

Jul-22

$639.9

-

AutomationServices

Aug-22

$275.0

-

-

Logistics

Feb-22

$240.01.0x

-

TestandMeasurement

May-22

$225.0

4.7x

-

DiversifiedAutomation

Aug-22

$185.0

-

-

AutomationServices

Jul-22

$165.0

-

-

AdditiveManufacturing

May-22

$98.4

-

-

Apr-22

$95.5

-

-

AutomationServices

10

Source:CapitalIQ,Pitchbook,CompanyWebsites,DrakeStarDatabase

Note:DealscategorizedbasedonDrakeStar’sprimarysegmentation;dealandsectorcrossovermayoccur

10

21

37

AdditiveManufacturing

DiversifiedAutomation

$2.7B

$4.0B

$2.7B

SUPPLYCHAINAUTOMATIONPRIVATEPLACEMENTS

2022:412DEALSAND$9.6BINDISCLOSEDPRIVATEPLACEMENTS

#ofDealsbyStage#ofDealsbySegment

118

30

264

DealValue($B)byStage

$0.9B

$1.7B

$7.0B

EarlyStageVC

LaterStageVC

PEGrowth/Expansion

11

2331

15

16

110

130

15

6

48

7

DealValue($B)bySegment

$0.2B

$0.3B

$1.3B

$0.3B

$1.8B

$4.1B

$0.7B

$0.1B

$0.3B

Source:CapitalIQ,Pitchbook,CompanyWebsites,DrakeStarDatabase

Note:DealscategorizedbasedonDrakeStar’sprimarysegmentation;dealandsectorcrossovermayoccur

#ofDealsbyAmountRaised

15

IndustrialSoftware

163

LaserSystems

Logistics

DealValue($B)byAmountRaised

$0.2B

MachineVision

MotionControl

Robotics

AutomationServices

TestandMeasurement

$0-$5M

$5-$10M

$10-$50M

$50-$100M

$100M+

11

SUPPLYCHAINAUTOMATIONPRIVATEPLACEMENTS:2022

TOP15PRIVATEPLACEMENTS

VALUATION

($M)

TARGETCOUNTRY

DEALVALUE

($M)

TARGET

SEGMENT

LEADINVESTORS

DATE

TOTAL

RAISED($M)

AdditiveManufacturingFeb-22

$392.0

$2,000.0

$443.0

NorwestVenturePartners,TigerGlobalManagement

MachineVision

Feb-22

$377.5

$424.4

-

XiaomiVentures

Sep-22

Robotics

$210.0

$3,544.5

$214.8

Oisixradaichi,JMTCCapital,andFutureFoodFund

AdditiveManufacturingAug-22

$2,562.5

$200.0

$200.0

QimingVenturePartners

Mar-22

IndustrialSoftware

$173.4

$439.0

-

GuolianGroup,MulanInvestment,ShangqiCapital,GACCapital

Jun-22

Robotics

$169.0

$2,080.0

$184.5

CapitalToday

RoboticsApr-22$150.0$550.0$178.0DCVC,PlaygroundGlobal

MachineVisionSep-22$150.0-$574.4ChinaStructuralReformFundandMiraeAssetSecurities

RoboticsJul-22$148.9-$221.6Prosperity7Ventures,SoftBankInvestmentAdvisers,Temasek

DiversifiedAutomation

Jul-22

$135.0

-

$135.0

GIC

IndustrialSoftwareOct-22$132.0-$376.0EclipseVentures

RoboticsNov-22$117.0$2,000.0$379.5G2VP,Stack,TheGoldmanSachsGroup

Robotics

Mar-22

$115.0

$840.0

$165.0

BreyerCapital

MachineVision

Aug-22

$111.0

$911.0

$198.7

PSPPartners

Robotics

May-22

$110.0

$205.2

-

MithrilCapitalManagement

12

Source:CapitalIQ,Pitchbook,CompanyWebsites,DrakeStarDatabase

Note:DealscategorizedbasedonDrakeStar’sprimarysegmentation;dealandsectorcrossovermayoccur

32

SECTORSPOTLIGHT:ROBOTICS

PRIVATEPLACEMENTACTIVITYIN2022

RoboticsPrivatePlacements($B)

$2.0$1.8$1.6$1.4$1.2$1.0$0.8$0.6$0.4$0.2$0.0

3939

3333

31

30

27

Q121Q221Q321Q421Q122Q222Q322Q422

2022:130Deals

9

42

79

EarlyStageVCLaterStageVC

2022:$4.1BRaised

$0.6B$0.6B

$3.0B

PEGrowth/Expansion

40

35

30

25

20

15

10

5

0

TARGET

VALUATION

($M)

SELECTINVESTORS

DATE

DEALVALUE

($M)

TARGETCOUNTRY

Sep-22$210.0Oisixradaichi,JMTCCapital$3,544.5

Jun-22

$169.0

CapitalToday

$2,080.0

Mar-22

$150.0

DCVC,PlaygroundGlobal

$550.0

Jul-22

$148.9

Prosperity7Ventures,SoftBankInvestmentAdvisers,TemasekHoldings

-

Nov-22

$117.0

G2VP,Stack,TheGoldmanSachsGroup

$2,000.0

Mar-22

$115.0

BreyerCapital

$840.0

May-22

$110.0

MithrilCapitalManagement

-

Aug-22

$100.0

IntelCapital,MorganStanleyTacticalValue,VertexGrowth

$473.9

Jun-22

$100.0

UndisclosedInvestors

-

Jul-22

$91.0

CongruentVentures,WellingtonManagement

-

Jan-22

$75.0

TigerGlobalManagement

$350.0

Aug-22

$70.0

JenerationCapital

-

Mar-22

$67.6

OctopusVentures

$124.1

Apr-22

$64.0

TigerGlobalManagement

$352.5

Sep-22

-

-

GrahamPartners,ExportDevelopmentCanada

Source:CapitalIQ,Pitchbook,CompanyWebsites,DrakeStarDatabase

Note:DealscategorizedbasedonDrakeStar’sprimarysegmentation;dealandsectorcrossovermayoccur

DrakeStaractedasfinancialadvisor

13

36

28

24

40

35

30

25

20

15

10

5

0

EclipseVentures

$132.0

Oct-22

-

Jan-22

$100.0

AlphaIntelligenceCapital,CDIBCapitalGroup

-

Jun-22

$66.7

Autodesk,LockheedMartin,Atomico

$159.0

Feb-22

$62.9

LegendCapital

-

Mar-22

$61.5

UndisclosedInvestors

$327.5

Jan-22

$50.0

AtlasHoldings,BAMElevate

$310.0

Jan-22

$50.0

DriveCapital

$200.0

Feb-22

$44.6

Accel

-

Jun-22

$39.4

ArosaCapital,EnergyImpactPartners

-

Oct-22

$35.0

NorthzoneVentures

-

Mar-22

$31.0

MegaChips,Nsitexe

$131.0

May-22

$29.2

G2VP

$91.1

Mar-22

$28.0

ProsusVentures

-

$0.5B

$1.3B

SECTORSPOTLIGHT:INDUSTRIALSOFTWARE

SELECTINVESTORS

VALUATION

TARGETCOUNTRY

DATE

DEALVALUE

($M)

PRIVATEPLACEMENTACTIVITYIN2022TARGET

($M)

Mar-22

$173.4

CASGuolianGroup,MulanInvestment,Shangqi

Capital,GACCapital,etc.

-

IndustrialSoftwarePrivatePlacements($B)

$2.0$1.8$1.6$1.4$1.2$1.0$0.8$0.6$0.4$0.2$0.0

29

29

29

29

25

Q121Q221Q321Q421Q122Q222Q322Q422

2022:$1.8BRaised$0.1B

2022:110Deals

8

27

75

Jul-22

$25.0

-

StarshotCapital

PEGrowth/Expansion

EarlyStageVCLaterStageVC

Source:CapitalIQ,Pitchbook,CompanyWebsites,DrakeStarDatabase

Note:DealscategorizedbasedonDrakeStar’sprimarysegmentation;dealandsectorcrossovermayoccur

14

2022Q4

OVERVIEW

15

Source:CapitalIQ,Pitchbook,CompanyWebsites,DrakeStarDatabase(1)2022selecttransactions

16

•BrightMachines,providerofmanufacturingautomationsoftware,announced$132Minnewfundingtoexpandintelligentautomationinmanufacturing,ledbyEclipseVentures.

•LocusRobotics,aleaderinautonomousmobilerobots(AMR)forfulfillmentanddistributionwarehouses,announcedmorethan$117MinSeriesFfunding,ledbyGoldmanSachsAssetManagementandG2VenturePartners.

•Attabotics,developerofaroboticwarehousingandfulfillmentsystem,announcedithasraised$72MinSeriesC-1fundingledbyExportDevelopmentCanada(EDC)tofurtheracceleratethecommercializationofits3Droboticswarehousingsolution.

•PickleRobotannounceda$26MSeriesAraiseledbyRanpak,JSCapital,SchustermanFamilyInvestments,SorosCapitalandCatapultVentures.Thefundingwillacceleratego-to-marketactivitiesandstrengthendeploymentcapabilities.

Fundraising

•NauticusRobotics,developsoceanrobots,autonomoussoftwareandservicesforthemarineindustry,completeditsbusinesscombinationwithCleanTechAcquisitionCorp,aspecialpurposeacquisitioncompany(SPAC).Dealvaluedat$561M.

•Symbotic,developeroffullyautonomousrobotsthatreceiveandretrieveproductsindistributioncenters,closedaSPACdealwithSVFInvestmentCorp.3anddebutsonNASDAQ.Dealvaluedat$320M.

•EnOceanGmbH,aGlobalLeaderinInternetofThings(IoT)devicesandsensor-to-cloudsolutions,announcedplanstobringthecompanytothepublicmarketsviatransactionwithParabellumAcquisitionCorp,valuedat$186M.

Markets

Public

(1)

SUPPLYCHAINAUTOMATIONKEYHEADLINES

Q42022

•CoupaSoftwareannouncedthatithasenteredintoadefinitiveagreementtobeacquiredbyThomaBravoinadealthatvaluesthecloud-basedbusinesssoftwarefirmat$8.0B.

•AltraIndustrialMotion,apremierglobalmanufacturerandsupplierofmotioncontrolandautomationproducts,announcedithasenteredintoadefinitiveagreementtobeacquiredbyRegalRexnordCorporationforapproximately$5.0B.

•Nidec,theJapaneseelectricmotormaker,announcedthatitacquiredPAMA,anItalianmachinetoolmanufacturer,anditsnineaffiliatecompaniesfor$108M.

•WalmartannouncedtheacquisitionofAlertInnovation,aroboticsautomationcompanythatdevelopsmaterial-handlingtechnologyforautomatingorderfulfillmentinretailsupplychains.

•DynamicDesignSolutions,providerofcustomautomationandsystems,announcedtheiracquisitionbyAddtronics,aportfoliocompanyofKahoPartnersdedicatedtoacquiringandgrowingleadingroboticautomationsolutionproviders.

M&A

SUPPLYCHAINAUTOMATIONM&ATRANSACTIONS:Q42022

QoQM&A

46DEALSANNOUNCEDAND$14.1BINDISCLOSEDDEALACTIVITY

M&ATransactions($B):ByQuarter

#OFDEALSBYSEGMENT:Q42022

6064

$30.0

21

5

54

$25.0

14

46

45

45

45

AdditiveManufacturing

DiversifiedAutomation

IndustrialSoftware

LaserSystems

Logistics

11

44

40

40

38

$20.0

MachineVision

MotionControl

Robotics

2

4

34

30

1

3

AutomationServices

2

$15.0

TestandMeasurement

24

#OFDEALSBYGEOGRAPHY:Q42022

$10.0

5

14

$5.0

4

22

NorthAmerica

Europe

17

Asia

$0.0-6

Q420Q121Q221Q321Q421Q122Q222Q322Q422

Value($B)

Note:Barchartshowsannounceddeals

only

DealCou