Angeles Equity Partners has acquired Acieta, an industrial robotics manufacturer and integrator, from Mitsui & Co. This is the fourth acquisition by Angeles as it assembles its RōBEX robotics integration platform.
Angeles acquired RōBEX in March 2022 and quickly added-on with the buy of Mid-State Engineering, an automation integrator specializing in mechanical and electrical engineering. Eight months later, in November 2022, RōBEX acquired Michigan-based Vantage Corporation, an industrial robotics manufacturer and integrator.
Acieta is a full-service robotics provider with systems, controls, and software engineering capabilities. The company, with 115 employees, was founded in 1983 and over the past 40 years has built a large standard products business and installed over 5,500 robots. Acieta is a FANUC Authorized System Integrator, Certified Vision Specialist, and Certified Servicing Integrator.
Acieta is led by CEO Robby Komljenovic and is headquartered near Milwaukee in Waukesha, Wisconsin. Acieta’s has a combined 67,000 square-feet of manufacturing facilities in Council Bluffs, Iowa, and Waukesha, Wisconsin (headquarters).
“Our team is eager to help build what we believe is the country’s most technically capable and experienced automation systems integrator,” said Mr. Komljenovic. “This combination is designed to provide our customers an expanded reach, additional resources, and what we view as unmatched industry experience to advise on optimizing all processes to maximize returns on their robotic equipment investments.”
RōBEX is a designer, fabricator, and installer of robotic systems for customers in the consumer goods and logistics industries. The company is an authorized system integrator for FANUC and a key distributor for Mobile Industrial Robots (MiR), Plus One Robotics, AutoGuide Mobile Robots, and Seegrid autonomous mobile robots. RōBEX, led by CEO Jon Parker, is located near Toledo in Perrysburg, Ohio, with a fabrication and service center near Richmond in Aylett, Virginia.
The acquisition of Acieta expands Robex’s equipment tending, welding, and palletizing capabilities across a broader set of end markets including agriculture, foundry and die, welding and fabrication, and construction and building products. Now combined, RōBEX, Mid-State, Vantage, and Acieta have a total of 207,000 square-feet of manufacturing facilities with locations in Ohio, Virginia, Indiana, Michigan, Wisconsin, Iowa.
“We are excited about the combination of these two great companies and believe in the ongoing growth trajectory of this industry,” said Sam Heischuber, a managing director at Angeles Equity. “As the manufacturing and logistics sectors continue to face labor shortages, higher wages, intensifying global competition, and increased manufacturing complexity, the need for a sophisticated, robotics automation systems integrator with a national presence should only increase.”
Los Angeles-based Angeles Equity makes control investments in companies with enterprise values up to $200 million that have headquarters and primary operations in the United States and Canada. Sectors of interest include aerospace, automotive, building products, capital goods, chemicals, electronics, manufacturing, metals, transportation and logistics, packaging, and distribution.
Lincoln International was the financial advisor to Acieta on this transaction.
© 2024 Private Equity Professional | January 30, 2024
