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Industrial IT Services M&A: GrayMatter Acquires HTSE

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Digital transformation company GrayMatter, backed by private equity firm Hamilton Robinson Capital Partners, has acquired process automation and machine control provider HTSE Inc. Financial terms of the deal were not disclosed.

This is technology M&A deal number 726 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.

GrayMatter Acquires HTSE

GrayMatter, founded in 1991, is based in Warrendale, Pennsylvania. The company has 118 employees listed on LinkedIn. GrayMatter’s areas of expertise include work process management, PLC version control, operations data management, advanced analytics, big data management, HMI/SCADA, MES, PLM, cybersecurity, Brilliant Manufacturing, digital transformation, water/wastewater management, digital twin, operational technology, smart manufacturing, intelligent assets, asset performance management, APM, reliability, maintenance, IIoT, IoT, big data, predictive analytics and smart workbench.

HTSE, founded in 1989, is based in Portage, Michigan. The company has 39 employees listed on LinkedIn. HTSE’s areas of expertise include ABB, Allen-Bradley, Cognex, Delta-V, Foxboro, Intellution, Microscan, Rockwell, Siemens, Systech Vision and Wonderware.

HTSE has provided automation solutions for some of the world’s largest food, beverage, pharmaceutical, chemical, and manufacturing companies. GrayMatter leverages Advanced Industrial Analytics, Industrial Cybersecurity, Brilliant Operations and other as-a-service solutions to help industrial organizations transform their operations. The acquisition will allow GrayMatter to grow its industrial intelligence solutions offering, according to the company.

Gray Matter is backed by private equity firm Hamilton Robinson Capital Partners. This is the third strategic merger from the company in about four years. In late 2020, GrayMatter acquired Virginia-based E-Merge Systems and in March 2018, GrayMatter acquired Colorado-based TMMI’s software and services assets.

GrayMatter Acquires HTSE: Growing Industrial Intelligence Platform

James Gillespie, CEO and co-founder, GrayMatter
James Gillespie, CEO and co-founder, GrayMatter

James Gillespie, CEO and co-founder, GrayMatter, commented:

“We’re thrilled to add the strength of HTSE to GrayMatter’s Industrial Intelligence Platform. They’re a known powerhouse in the pharmaceutical space and in manufacturing overall.

“Industrial companies have an urgent need to fill talent gaps, leverage advanced analytics and protect plants and remote assets from cyber attacks. The GrayMatter and HTSE merger creates a larger team of unmatched operational technology expertise to solve these challenges for manufacturers.”

Brian Mack, president, HTSE, commented:

“GrayMatter’s extensive experience in the development and deployment of industry-leading manufacturing intelligence solutions along with HTSE’s expertise in both process and discrete automation will allow for even more innovative and complementary solutions that will greatly benefit clients. HTSE could not be more excited to become a part of GrayMatter.”