ENGINEERING TECH

DuPont Announces Acquisition of Rogers Corporation

DuPont | November 02, 2021

Rogers Corporation (NYSE:ROG) announced  that it has entered into a definitive merger agreement to be acquired by DuPont (NYSE: DD) in an all-cash transaction that values Rogers at approximately $5.2 billion.The transaction delivers substantial value to Rogers’ shareholders, who will receive $277 in cash per share, representing a 33% premium over Rogers’ closing share price on November 1, 2021, and a 46% premium to the 1-month volume weighted average share price.

Following the closing of the transaction, Rogers will be integrated into DuPont’s Electronics & Industrial business unit. Rogers significant applications engineering, design expertise, and deep customer relationships form a strong strategic fit with DuPont’s innovation capabilities and collaborative approach to solving the most complex customer challenges.

Rogers is a recognized global leader in advanced materials solutions, and this combination with DuPont will help accelerate our long-term growth in EV/HEV, ADAS and other key markets,” stated Bruce D. Hoechner, Rogers' President and CEO. “The Rogers’ team has created a growth-focused organization built on a foundation of strong technology leadership and customer intimacy. Our combination with DuPont, a proven leader in technology-based materials, provides resources and support to allow Rogers to scale for success. Rogers is a natural fit with DuPont, and this combination will create an exciting next chapter for Rogers’ customers, employees and partners.

“Rogers is a results-driven organization with excellent technical expertise and deep customer relationships that align well with DuPont’s leading innovation and applied material science capabilities,The combination of Rogers with our Electronics & Industrial business further strengthens our market-leading portfolio and ability to bring new solutions to exciting end markets. We look forward to welcoming Rogers’ employees and working together to deliver essential innovations that help our customers and company grow.”

-Ed Breen, DuPont Executive Chairman and CEO.

About Rogers Corporation
Rogers Corporation (NYSE:ROG) is a global leader in engineered materials to power, protect and connect our world. Rogers delivers innovative solutions to help our customers solve their toughest material challenges. Rogers’ advanced electronic and elastomeric materials are used in applications for EV/HEV, automotive safety and radar systems, mobile devices, renewable energy, wireless infrastructure, energy-efficient motor drives, industrial equipment and more. Headquartered in Chandler, Arizona, Rogers operates manufacturing facilities in the United States, Asia and Europe, with sales offices worldwide.

About DuPont
DuPont (NYSE: DD) is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, healthcare and worker safety. More information about the company, its businesses and solutions can be found at www.dupont.com. Investors can access information included on the Investor Relations section of the website at investors.dupont.com.

Spotlight

Australia is facing a growing demand for engineers across a range of industries. The expanding pipeline of projects – in areas such as infrastructure, transport, mining and resources, construction, defence and beyond – means that more and more skilled engineers are needed to deliver them. Further, staying ahead of the curve in new developments such as robotics, digital technology, artificial intelligence and advanced materials will require the knowledge, innovation and know-how of trained engineers.

Spotlight

Australia is facing a growing demand for engineers across a range of industries. The expanding pipeline of projects – in areas such as infrastructure, transport, mining and resources, construction, defence and beyond – means that more and more skilled engineers are needed to deliver them. Further, staying ahead of the curve in new developments such as robotics, digital technology, artificial intelligence and advanced materials will require the knowledge, innovation and know-how of trained engineers.

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Capital Construction and Maintenance Support Field Services Company AMECO Spun Off From Fluor Corporation

AMECO, One Equity Partners | June 11, 2021

AMECO, one ofNorth America'sleading construction and maintenance field services planning and management companies, was recently spun off by its parent company, Fluor Corporation. The company, which is headquartered inGreenville, S.C, with field operations throughoutthe United StatesandCanada, was purchased by middle market private equity firm One Equity Partners (OEP) for$73 million. For more than 70 years, AMECO has managed and provided indirect products and services, including equipment, scaffolding, tools, consumable supplies and fleet management for capital construction, facility operations and maintenance projects on a global scale. Taking an integrated and collaborative approach to project management, AMECO is the premier company providing complete, packaged solutions to the industry. As an independent organization, AMECO will bring its world-class expertise to bear for a larger range of customers throughoutthe United StatesandCanadato enhance efficiency, increase craft productivity, streamline billing and supply chain management and reduce costs for large projects and ongoing maintenance needs. AMECO has assembled a strong senior management team comprised of long-tenured construction and maintenance executives, including many former and present AMECO team members, to lead the organization.Gary Bernardez, who led AMECO from 2001-2012, will serve as chief executive officer. About AMECO As a field services company, AMECO delivers unique solutions for efficient planning and management of indirect construction products and services throughout the project life cycle to the construction and maintenance markets in the U.S. andCanada. Headquartered inGreenville, S.C., AMECO serves owners and contractors on capital construction projects and in ongoing facility operations with an emphasis on energy, chemicals, mining, biotech, manufacturing and infrastructure end markets. About One EquityPartners One Equity Partners (OEP) is a middle-market private equity firm focused on the industrial, healthcare, and technology sectors inNorth AmericaandEurope. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015.

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ENGINEERING TECH

Aktion Acquires Corum Client Central Consulting Group

Aktion | July 26, 2021

Corum announced today that Aktion Associates has acquired its client, Minnesota-based Central Consulting Group (CCG), Deltek's biggest Vision/Vantagepoint partner. The acquisition expands Aktion's product offerings and customer base in the AEC sector in North America. Corum is the world's top educator on technology trends, valuations, growth plans, and tech mergers. On August 10th, 10:00 AM CDT, Rob Griggs will conduct a 90-minute online Tech M&A, Merge Briefing. Tech CEOs and founders will learn about disruptive technology trends, how to manage an M&A process for maximum results, and avoid deal disasters and current Tech M&A trends. About Central Consulting Group Since 2002, Central Consulting Group (CCG), Deltek's largest Vision/Vantagepoint partner, has assisted thousands of architectural, engineering, construction, and professional services companies across the globe in getting more out of their software investment. CCG has assisted clients with their move to Deltek Vantagepoint, the next generation of Deltek, Vision/Vantagepoint cloud migrations, and installing, training, tailoring, modifying, and integrating Deltek ERP Software. In addition, CCG experts address business problems and provide ongoing support throughout the project and software lifecycle. About Aktion Aktion Associates Inc. is a nationwide ERP software reseller and IT infrastructure provider specializing in the Architectural Engineering and Construction, Distribution, and Manufacturing sectors. More than 5,500 clients have selected Aktion as their technology advisor since 1979. These teams, which have a staff of 200 professionals in application consulting, network, and software engineering, use proprietary lean implementation methods to help clients realize the value of their IT investment. In addition, secure cloud hosting, disaster recovery, and backup services are provided by company-owned data centers. The Network Operations Center (NOC) monitors and supports managed services clients in real-time.

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Raven Establishes an Advanced Engineering Center in Arizona and Expands Its South Dakota Innovation Campus

Raven | March 28, 2022

Raven Industries announced that it is expanding its facilities to support the organization's rapid growth as it develops cutting-edge customer solutions and accelerates the advancement of its industry-leading agriculture technology. Raven recently opened a new engineering center in Scottsdale, Ariz., as part of this expansion. The Phoenix metropolitan area is a national hub for high-performance businesses and individuals. Raven benefits from strong ties to Arizona State University, one of the country's largest and most innovative universities, as the company continues to recruit top engineering talent. Raven team members will also have access to a nearby test farm for same-day testing, focusing on product development, data science, and artificial intelligence. This model enables more rapid and efficient agriculture technology iteration while putting the user experience first as demonstrated by the success of South Dakota's Raven Innovation Campus. Along with the new Scottsdale location, Raven is planning a significant expansion of its Innovation Campus, located just minutes from its headquarters in Sioux Falls, South Dakota. The upgraded facilities will provide additional space and resources for real-time engineering testing, research, and development in artificial intelligence, autonomy, machine learning, and core technologies. “Our integration with Raven is rapidly accelerating technology delivery to customers, It allows our Engineering teams to efficiently go from ‘code to cab’ to develop and deploy new technologies. These sites, combined with our existing activities, will reinforce our commitment to have engineers work closely with our customers.” Parag Garg, Chief Digital Officer, CNH Industrial Arizona and South Dakota investments will strengthen Raven's engineering talent base, advance Raven technology integration and advancements on Case IH and New Holland platforms, and support demand for innovative aftermarket solutions. “These expansions are a direct reflection of our commitment to autonomous development,” noted John Preheim, Raven Vice President of Engineering. “We are dedicated to delivering autonomous solutions that help growers optimize their operations, and these centers of excellence will provide the space and resources to support this vision.” Raven continues to expand its award-winning portfolio of solutions, most recently with the introduction of OMNiPOWERTM 3200, its next-generation autonomous power platform. The OMNiPOWERTM 3200 enables farmers to remotely operate the unit via tablet or in autonomous mode without needing a driver. OMNiDRIVETM has also been recognized as a top innovative product by agricultural and biological engineering leaders as a 2022 ASABE AE50 Award Winner. As Raven leads the market toward autonomy through established, award-winning driverless platforms, the company views autonomy as a critical component of its mission: assisting farmers in assisting the world. Visit https://ravenprecision.com/autonomy to learn more about Raven's autonomous advancements.

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