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With the acquisition, SDI Industries will become an AutoStore integrator. | Source: Element Logic
Element Logic has acquired SDI Industries. The acquisition helps Element Logic expand to the United States and Latin America. The details of the deal were not disclosed.
Element Logic is a specialized integrator for AutoStore, an automated warehouse solution. With the acquisition, Element Logic plans to leverage SDI’s eight U.S. locations and five Latin American locations and make SDI an AutoStore integrator as well.
“I look forward to having SDI Industries on board. This acquisition is an important milestone of our strategy of becoming the leading integrator for automated warehouse solutions globally. With SDI we see an incredible opportunity to enter the highly attractive American market together with a partner that accelerates our growth strategy,” Dag-Adler Blakseth, co-founder and CEO of Element Logic, said.
SDI is a provider of turnkey automation solutions and sortation systems. SDI’s team of around 200 experts will join Element Logic’s team of around 275. The acquisition also allows Element Logic to expand its product offering by bringing SDI’s sortation systems into the fold.
“We are thrilled to be part of the Element Logic group and having a partner with a shared vision and similar culture as well as years of expertise,” Krish Nathan, CEO of SDI, said. “We look forward to growing together with Element Logic and the opportunities the partnership will bring.”
Element Logic was acquired by Castik Capital, a European private equity investor, in July 2021, and this is the company’s first acquisition since then. It expects the deal to close in the second quarter of 2022.
During the deal, Element Logic was advised by PwC, Kutak Rock and Houlihan Lokey. SDI was advised by Alta Capital Partners, Clapp Kelner and Kirsch Kohn & Bridge.
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