Angeles Equity Partners, LLC, a private investment firm focused on value creation through operational transformation, today announced the simultaneous acquisitions of RōBEX LLC and Mid-State Engineering LLC, 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, Angeles explained. 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 (AMRs). The team specializes in serving the fast-moving consumer goods, logistics, and 3PL 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.
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