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Celebrating 25 Years of Excellence in the TMA Sector with Record Transaction Volume

2024 is a Milestone Year for Baird’s TMA Practice with over $9 Billion in Transaction Volume

We are very proud to announce that in 2024, Baird’s Global Test, Measurement and Automation (TMA) practice closed transactions valued in aggregate at over $9 billion, setting a new record. Since its founding 25 years ago, Baird’s TMA team has become a leading advisor to the sector, uniquely focused on hardware, software, services and blended TMA business models across a wide range of end markets.

25 years anniversary

 

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“I am very proud of what our global team has accomplished over 25 years. We’ve built an integrated, global team with differentiated expertise and relationships with TMA companies and investors around the world. Thank you to all our clients for placing their trust in us over the years. We look forward to continuing to execute for you in 2025 and beyond.”

- Joel Cohen, Managing Director, Chairman of Baird Global Industrial Investment Banking

 

Baird’s TMA practice was founded 25 years ago with a focus on developing deep Test & Measurement industry expertise and relationships, and we’ve continuously evolved and expanded our coverage. From its start covering mostly instrumentation companies, we have broadened our practice to provide global coverage of a wide ranging set of companies across hardware (e.g. instrumentation, sensors, automation components), software (e.g. industrial software, data analytics, IoT, remote monitoring) and services (e.g. Testing/Inspection/Certification/Compliance, Instrumentation Repair & Calibration). Today, our dedicated TMA senior banking team located in the U.S., Europe and Asia, provides sector insights, strategic advice and seamless transaction execution.

Our team’s capabilities are enhanced by Baird’s deep and long-standing research of public TMA & TICC companies. Baird’s Equity Research analysts cover ~35 blue-chip public companies across the ecosystem.

2024 TMA STATS

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9B+
Completed Transaction Value

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$2B+
Equity Capital Raised

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14x
Average Sellside M&A Multiple

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5
Transactions Over $1B

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33%
Cross Boarder Transactions


2024 TMA Transaction Highlights

2024 was a record year for our TMA franchise with over $9 billion in aggregate transaction volume.

Select 2024 Transactions


Contact a member of Baird's Test, Measurement and Automation team to discuss the sector and our experience. We welcome the opportunity to connect with you to share more about our practice and what investors can expect in the space during 2025.

Howard Mizel
+1-312-609-4742
hmizel@rwbaird.com

Benjamin Pierce
+1-312-609-6919
bpierce@rwbaird.com

Aaron Haney
+1-312-609-7081
ahaney@rwbaird.com

Mantas Wachendoerfer
+49-69-1301-4941
mwachendoerfer@rwbaird.com

Henning Stoltze
+49-69-1301-4955
hstoltze@rwbaird.com

Dalwinder Padda
+49-69-1301-4957
dpadda@rwbaird.com