Tequity's Client Matrix Industrial Control Systems Acquired by Valstone



September 25, 2023

Tequity acted as the exclusive financial advisor to food processing systems specialist Matrix Industrial Control Systems in their partnership with Valstone.  

Matrix Industrial Control Systems, based in Brampton, Ontario, Canada, has been a pioneer in the food industry since 1977. Their software solutions provide real-time data, increasing efficiency and throughput while reducing giveaway and maximizing quality. The end result is a significant boost to the bottom line for businesses in the food sector. Their comprehensive suite covers all facets of food industry operations, from receiving through to shipping, including Product Recall and Traceability Management, Yield Control, and Recipe Management.

Valstone is a prominent leader in industrial software and integrated systems. This alliance not only fortifies Valstone's diverse portfolio but also marks the company's strategic entry into the Food & Beverage industry. Together, the partnership brings specialized, fully integrated software solutions to the table, focusing on real-time data analytics, yield control, recipe management, and product recall and traceability.

Jim Wilson, the driving force behind Matrix Controls for more than 40 years shared that "Valstone is absolutely the perfect fit for the future of Matrix. Their enthusiastic team shares the same values that have held the utmost importance to me over the years: our customers and employees. Both have been the driving force in the success and evolution of Matrix. Over to Valstone now to take Matrix and our great team to new heights. I’m confident it will happen."

“Once the decision to sell Matrix had been made, after a deal of research I decided that Tequity was the best for the job. If you have ever sold a business, you will know it can be extremely stressful, but Paul Bennett and the Tequity team stepped up to the plate and shouldered a considerable amount of the burden. Their deep understanding of Matrix and our market led to them finding top notch prospective buyers. Paul and the Tequity team are the ultimate professionals, and I will forever be in their debt.”

“We are excited for Jim and his team as they transition into a new phase of growth with Valstone” added Paul Bennett, Vice President, Client Engagements, Tequity.  “There continues to be considerable interest in vertically focused SaaS companies and strong competition across all buyer profiles.”

The acquisition of Matrix Controls is a significant step for Valstone, reinforcing its commitment to providing comprehensive and industry-specific software solutions. It also marks another milestone in Valstone's ongoing expansion strategy, following recent acquisitions in industrial software and automation technology.

Steph Manos, President of Valstone, concluded "We are thrilled to welcome Matrix Controls into the Valstone family. Their expertise in the food industry aligns perfectly with our mission to empower businesses through innovative software solutions. This acquisition not only expands our portfolio but also opens up new avenues for growth and collaboration. We look forward to working closely with the talented team at Matrix to achieve new milestones."

About Matrix Industrial Control Systems

Matrix is a leader in software solutions tailored specifically for the food industry. The company is dedicated to enhancing efficiency, throughput, and quality, while minimizing waste. Their comprehensive platforms deliver real-time data analytics that guide businesses toward increased profitability. Spanning every aspect of operations from incoming goods to final shipping, their software suite encompasses Product Recall and Traceability Management, Yield Control, and Recipe Management. With a global clientele that includes industry-leading brands, Matrix Controls offers scalable and intuitive platforms engineered to optimize financial performance.

About Valstone

Valstone has solutions and services that support more than 1,500 organizations throughout the world. We provide technology for heavy construction materials, agriculture, grain, forestry, waste, and recycling industries. The Valstone team is made up of passionate professionals who believe in innovation and service to advance automation in the industries we serve. The diverse and real-world experiences of our team members serving our customers enhance our ability to help customers thrive in a digital world and drive our organization forward.

About Tequity

Tequity assists Enterprise B2B SaaS, Cloud, and IT companies with business growth and exit strategies. Our mission is simple: Achieve the best outcome for our clients. With over 15 years of operating excellence and decades of combined experience as executives, consultants, and owners of software and technology companies, Tequity has established a reputation as a trusted name in technology focused M&A advisory. We help technology entrepreneurs to navigate the complex landscape of M&A, ensuring they make informed decisions that drive growth and maximize shareholder value. Our deep industry knowledge and global relationships with strategic buyers allows us to deliver optimal outcomes for our clients.

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