Tennessee Industrial Electronics, a portfolio company of Summit Park, has acquired MASTER Robotics. Summit Park acquired Tennessee Industrial Electronics in September 2014.
MASTER Robotics is a provider of refurbished industrial robotic parts and also provides repair, preventative maintenance, and other field services. The company’s robot repair services focus on teach pendants (devices used to control an industrial robot remotely), power supplies, amplifiers, CPU’s, servo motors, wrist assemblies and other mechanical components made by Fanuc, ABB, Motoman, Adept, Denso, Nachi, Comau, Kuka, and Kawasaki. MASTER Robotics was founded in 2008 and is headquartered north of Detroit in Almont, MI (www.masterrobotics.com).
Tennessee Industrial Electronics (TIE) provides parts and repairs for FANUC computer numerical control (CNC) systems. FANUC – based in Yamanashi, Japan – is one of the largest makers of industrial robots in the world. TIE has over 75,000 FANUC drives, motors, and controls in inventory and provides next-day delivery to machine tool users throughout the United States. The company, led by CEO Tony Wisniewski, was founded in 1992 and is headquartered southeast of Nashville in La Vergne, TN (www.fanucworld.com).
“MASTER’s comprehensive robotics knowledge and technical repair capabilities will enable TIE to greatly expand our service offering and better meet the needs of our customers,” said Mr. Wisniewski. “The addition of MASTER significantly increases our domain expertise among the largest OEMs in the industry, including FANUC, ABB and Motoman, and enhances our go-to-market product offerings.”
“We are very pleased to acquire MASTER Robotics from its founders. The expertise and technical know-how that Master brings to TIE will enable us to more effectively serve our customer base, and it presents us with a significant opportunity to broaden our reach in the industry,” said Bob Calton, Co-Managing Partner at Summit Park.
Summit Park makes investments in lower middle market companies in a range of industries that have revenues between $20 million and $100 million or EBITDAs between $4 million and $12 million. Sectors of interest include business and consumer services, light manufacturing and value-added distribution. Summit Park is headquartered in Charlotte, NC (www.summitparkllc.com).
This is the second add-on acquisition made by TIE under Summit Park ownership. In September 2016, the company acquired The Parker Group of Companies, a Clinton Township, MI-based provider of repair services for printed circuit boards, power supplies, servo motors, welding controls, CNC controls, and robotics (www.parkergroupinc.com).
© 2018 Private Equity Professional | May 30, 2018