Leading Industrial Instrumentation, Controls Automation, and Electrical (ICE) provider Selects Revenue Rocket to facilitate a business combination

News provided by

Sep 07, 2023, 13:27 ET

BLOOMINGTON, Minn., Sept. 7, 2023 /PRNewswire/ -- From Bloomington, Minnesota, Revenue Rocket Consulting Group, the leading M&A Advisory firm focused exclusively on IT Technology-Enabled services businesses, announced it has been retained by a top Western-Canada-based industrial instrumentation, controls automation, and electrical engineering firm to find a suitor to acquire the company. This process is Project Dragon.

Project Dragon offers a fully integrated lifecycle of offerings across Engineering, Construction, and Field Services in industrial instrumentation, control automation, and electrical disciplines.

Industrial controls engineering services include engineering of automation and control systems with expertise in Operational Technology, Industrial Internet of Things, instrumentation design, electrical design, and functional safety.

Field services include multi-discipline commissioning, regulatory inspections, facility turnarounds, and long-term maintenance of instrumentation, electrical and mechanical systems.

Construction services include fabricating and installing electrical instrumentation panels, electrical systems, and control solutions.

Project Dragon's customers include marquee names in manufacturing, energy, and agricultural markets, with 75% of customers returning for multiple projects over the company's lifetime.

The management team and employees are willing to stay with the acquiring company to maintain and grow sales and operations capabilities as the ownership team plans to exit the business after an orderly transition. As such, Project Dragon represents a critical scale and profitability in a unique industry with 200+ employees and 200+ active projects.

Project Dragon stands out from its competitors due to their complete cycle of offerings across engineering, construction, and maintenance. They specialize in Operational Technologies, enabling them to design, build, and service complex industrial control systems without needing subcontractors or third-party supply chains for project completion.

Project Dragon is $45M (CAN) in revenue with $6M (CAN) in adjusted EBITDA with a history of growth and profitability.

"Project Dragon represents a unique opportunity to acquire a leading industrial automation engineering company of true scale, allowing suitors to expand services offerings and deep geographic coverage into Western Canada. We have had growing success in Canada with the placement of several strong companies, and our partnership with Project Dragon reflects the performance from our proven methodologies, process, and reach," said Mike Harvath, President & CEO of Revenue Rocket.

Revenue Rocket is currently evaluating potential suitors. To be involved in the process, please submit your interest at the Project Dragon mandate page here (https://www.revenuerocket.com/project-dragon) or connect with the Revenue Rocket team at: info@revenuerocket.com. A Confidential information Memorandum is available after a call with Revenue Rocket and completing a non-disclosure agreement.

The parties are executing against Revenue Rocket's processes and anticipate indications of interest and potential letters of intent in September 2023.

About Revenue Rocket Consulting Group
For owners of IT services companies looking for the next growth stage or an exit of their firm, Revenue Rocket Consulting Group provides M&A advisory for buy-side and sell-side initiatives, M&A readiness, and growth strategy consulting services. Revenue Rocket is 100% focused on technology-enabled services, including Application Integration firms, Custom Application Development firms, Managed Service Providers, Telecommunication Providers, SaaS, and Cybersecurity firms. For more information, please visit https://www.revenuerocket.com/

SOURCE Revenue Rocket Consulting Group