JR Automation, a portfolio company of Crestview Partners, has acquired Ogden, UT-based sister companies Setpoint Systems and Setpoint, Inc. Crestview acquired JR Automation in March 2015 from the Huizenga Automation Group.
JR Automation is a designer and manufacturer of automated or operated assembly line equipment such as sonic welders, riveters, adhesive dispensers, vision inspectors and verifiers, leak testers, robotic palletizers, and other equipment. The company’s products are used in the aerospace, automotive, construction, consumer products, food processing, furniture, medical, and pharmaceutical industries. JR Automation employs nearly 1,700 people at 16 manufacturing facilities in North America, Europe, and Asia. The company was founded in 1980 and is headquartered in Holland, MI (www.jrauto.com).
Setpoint Systems is an automation engineering company that specializes in the design, build, and controls programming of custom automation products and systems. The company has specific expertise in robotics, assembly equipment, material handling, testing & inspection, and induction heating automation equipment (www.setpointusa.com). Setpoint, Inc. is a designer and implementer of custom rides and attractions for amusement and theme parks (www.setpointinc.com).
“We look forward to working closely with the Setpoint businesses, leveraging their tremendous capabilities to further build out our world-class global industrial automation solutions platform,” said JR Automation Chairman and CEO Mike DuBose. “As part of JR Automation, Setpoint Systems and Setpoint Inc. will become even more effective, bringing together their history of excellence and innovation with JR Automation’s global footprint and capabilities. This is an exciting step for JR Automation, the Setpoint businesses, our customers, partners, and teams.”
Crestview invests from $100 million to $250 million in companies with enterprise values up to $3 billion. Sectors of specific interest include media, industrials, energy and financial services. The firm will invest in other industries where its relationship network and senior operating capabilities provide an advantage. Crestview, founded in 2004 and headquartered in New York, manages funds with over $7 billion of aggregate capital commitments (www.crestview.com).
D.A. Davidson & Co. (www.dadavidson.com) was the financial advisor to both Setpoint Systems and Setpoint, Inc.
© 2018 Private Equity Professional | April 13, 2018
