The combination creates an industrial automation integration platform to drive consolidation in the material handling space
Los Angeles, CA, Perrysburg, OH and Tipton, IN – March 1, 2022 – Angeles Equity Partners, LLC (“Angeles”), a private investment firm focused on value creation through operational transformation, today announced the simultaneous acquisitions of RōBEX LLC (“RōBEX”) and Mid-State Engineering LLC (“Mid-State”), two industrial automation integrators with deep expertise in their respective industries. RōBEX will serve as the platform investment with Mid-State as the first bolt-on acquisition. The financial terms of the transaction were not disclosed.
“We are excited to partner with such a talented team. We believe that RōBEX has the ability to become the leading robotic material-handling integrator in the U.S.,” said Mike Kay, Operating Partner at Angeles.
RōBEX is a precision integrator of industrial robots for the material handling space. The business designs, builds, and installs custom robotic systems that improve productivity and safety through industrial, collaborative, and autonomous mobile robots (“AMR”). The team specializes in serving the fast-moving consumer goods, logistics, and 3PL (third-party logistics) industries. RōBEX is an authorized system integrator for FANUC and a key distributor for Mobile Industrial Robots (MiR), Plus One Robotics, AutoGuide Mobile Robots, and Seegrid AMRs.
“Angeles represented the ideal partner for our next phase of growth. They understand our vision and offer the resources, expertise, and scale that we were looking for to create a leading consolidator in the sector,” said Jon Parker, CEO of RōBEX.
Mid-State Engineering is an automation integrator specializing in mechanical and electrical engineering and design, custom fabrication, and integration of custom engineered solutions. The business also specializes in traceability and part marking, panel fabrication, and vision systems. Their engineering prowess and in-house manufacturing capabilities complement RōBEX’s existing capabilities.
“Mid-State’s deep technical experience within robotic automation enables us to expand into new customer segments. We are excited to welcome them to the RōBEX family,” added Craig Francisco, President & COO of RōBEX.
“Our partnership with RōBEX is a result of a proactive initiative targeting industrial automation and represents a great opportunity to consolidate the fragmented, and increasingly vital, robotics landscape. As evidenced by our concurrent investment in Mid-State, we are focused on growing RōBEX through strategic bolt-on acquisitions,” said Sam Heischuber, Principal at Angeles.
Simpson Thacher & Bartlett LLP served as legal advisor for Angeles. The Peakstone Group and Vedder Price served as the financial and legal advisors, respectively, for RōBEX.
About Angeles Equity Partners, LLC
Angeles Equity Partners, LLC is a private equity firm that invests in companies across a wide range of sectors and specifically targets businesses which it believes can directly benefit from the firm’s strategic, operational, and M&A capabilities. The Angeles skill set drives the firm’s investment philosophy and, in its view, can help businesses reach their full potential. Learn more online at www.angelesequity.com.
About RōBEX
RōBEX is a robotic material handling integrator founded in 2015 in Perrysburg, Ohio. The company uses its uncommon experience and expertise to bring value to customers through robotic solutions that improve productivity and safety. For more information, go to https://robex.us/.
About Mid-State Engineering
Mid-State Engineering provides innovative solutions to meet manufacturing needs. The company was founded in 2008 in Tipton, Indiana with the goal of using deep manufacturing engineering experience to design and build unique systems tailored to a wide range of applications. For more information, visit http://www.midstateengineeringsolutions.com/.
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