Company acquisition
Thomas H. Lee Partners takes over AutoStore
Private equity investment firm Thomas H. Lee Partners, L.P. has announced the acquisition of AutoStore, a robotics and software company that provides automation technology for warehouse and distribution centers worldwide.
In addition to other shareholders, members of AutoStore's senior management team and the financial investor EQT will continue to be active in the company as minority shareholders. The transaction is expected to close in the third quarter of the year.
"Big step into the next phase of growth"
"Today's announcement is a big step into the next phase of our company's growth," said AutoStore CEO and President Karl Johan Lier. "We look forward to working with THL, which has deep industry knowledge and financial and operational resources, to accelerate AutoStore's overall growth strategy, including our continued geographic expansion."
Resources for innovation
The recapitalization from the acquisition will allow AutoStore to dedicate more resources to new product innovation and achieve its global growth objectives. "We are very excited about the opportunity to partner with the AutoStore team," said Jim Carlisle, Managing Director at THL. "Through its grid-based technology and proprietary software platform, AutoStore has an outstanding reputation in the marketplace, underpinned by its visionary engineering and R&D talent, impressive global distribution network and exceptional product quality. We are committed to investing in Karl Johan and his team and look forward to supporting AutoStore's rapid growth."
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