A Quebec-based company that sells a digital platform for controlling environmental conditions in barns and automating tasks is set to be acquired by Ingersoll Rand.
The owners of Maximus have entered an agreement to be bought by the global industrial company in an all-cash deal worth $135.4 million.
Headquartered in Montreal, with around 100 employees, Maximus developed its modular, internet-linked system on hog and poultry farms in Quebec and Manitoba. The system is designed to control and automate ventilation, feed systems, lighting, record-keeping, and other operations in hog, poultry, and dairy barns, with on-site and remote access.
Ingersoll Rand says it sees the acquisition building its existing presence in the animal health and irrigation markets through its Dosatron brand, which it acquired in 2019. Dosatron makes proportional water medicators for livestock production, and was collaborating with Maximus on its new SmartDosing medicator system prior to the deal.
Ingersoll Rand says it’s also looking at bringing the Maximus platform to greenhouses, and industrial and rural water treatment markets through other existing businesses under its umbrella of more than 50 brands.
“Maximus has built significant expertise in controls and IIoT (industrial internet-of-things) technology that aligns well with Ingersoll Rand and our current brands,” noted Vicente Reynal, chief executive officer of Ingersoll Rand.
According to a news release from Ingersoll Rand, Maximus has experienced greater than 30 per cent annual growth (CAGR) over the last five years.
“Improving the global performance of farms and the welfare of animals through technological innovations directly fits with Ingersoll Rand’s strategic imperative to operate sustainably,” said Nizar Barrou and André Spilmann, owners of Maximus. “The dedicated people in our company embody Ingersoll Rand’s value of thinking and acting like owners, so it is a natural fit to leverage Dosatron’s market leadership with the Maximus controls and IIoT expertise. We look forward to expanding Maximus into additional PST brands and across the Ingersoll Rand portfolio.”
The sale is expected to close in the third quarter of 2021.