Ares Private Equity Fund Invests Substantial
Equity Capital to Support AIR’s Growth Strategy
AIR Acquires TA Systems and Modular
Automation
Ares Management Corporation (NYSE: ARES) announced today the
launch of Automated Industrial Robotics Inc. (“AIR” or the
“Company”), a newly formed industrial automation company designed
to capitalize on increasing global demand for manufacturing
automation solutions. An Ares Private Equity fund (“Ares”) has
invested substantial equity capital to support AIR’s acquisition
and organic growth strategy.
AIR is focused on acquiring and facilitating the growth of
differentiated industrial automation companies serving diverse end
markets with strong operational histories and tenured management
teams. Grounded in a culture of safety, transparency and pursuit of
excellent customer experience, AIR seeks to leverage complementary
teams and technologies to deliver innovative, cost-competitive
solutions to address the complex and challenging needs of global
businesses. AIR will seek to grow through strategic investments in
the technologies of the future, in pursuit of delivering excellence
in automation.
Ares founded AIR with Brian Klos and Darragh de Stonndún,
Executive Chairman and Chief Executive Officer of AIR,
respectively. Mr. Klos, most recently a Partner in the Ares Private
Equity Group, brings over 17 years of M&A, organizational
development and strategic advisory experience across a breadth of
industries, including industrial technology and automation. Mr. de
Stonndún, an industrial automation industry veteran, brings over 20
years of leadership and operational experience, including managing
global key accounts at ATS Automation and co-founding BBS
Automation.
In connection with the launch of AIR, the Company has acquired
two foundational companies, Totally Automated Systems (“TA
Systems”) and Modular Automation (“Modular”). Based in Detroit,
Michigan, TA Systems has a more than 45-year history of designing
and manufacturing fully integrated and stand-alone assembly
machines for automotive, home appliances and other sectors. Based
in Shannon, Ireland, Modular has been operating for nearly 40 years
and is a leading automation solutions provider in the medical
technology industry. These two companies bring a strong cultural
and technological alignment as well as deep industry vertical
knowledge and experience.
Mr. Klos and Mr. de Stonndún said, “We are excited to work with
Ares in bringing AIR to global markets. Industrial automation is a
high-growth industry benefitting from a number of secular
tailwinds, and we are confident that AIR is well-positioned to
build a competitive global platform through strategic acquisitions
and organic growth. With our initial investments in TA Systems and
Modular, we are establishing a relationship-driven team with a
blue-chip customer base across diverse industries. Through our
integration, we will share our respective strengths as we continue
to enhance efficiencies, drive technological innovation and
industry-leading automation solutions to customers around the
world.”
Matt Cwiertnia, Co-Head of the Ares Private Equity Group, said,
“I firmly believe that AIR, with the support of Ares, has a
differentiated opportunity to build a scaled player in the highly
fragmented industrial automation industry. Brian and Darragh
together bring substantial experience in acquiring, integrating and
operating businesses, and we are excited to work with them to
position the Company for long-term growth.”
Ted Brown, CEO of TA Systems, said, “TA Systems is thrilled to
join AIR, marking a pivotal moment in our journey of growth and
diversification in both technology and industry verticals. As part
of AIR, we remain committed to delivering exceptional value and
service to all customers and contributing to the continued
evolution of automation technologies.”
Vivian Farrell, CEO of Modular, said, “This represents a
significant milestone for Modular and empowers us to expand the
reach of our innovative solutions and advanced automation
capabilities for our global medical technology clients. Looking
ahead, our teams are energized to continue building on our shared
values and serving customers wherever they operate.”
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global
alternative investment manager offering clients complementary
primary and secondary investment solutions across the credit,
private equity, real estate and infrastructure asset classes. We
seek to provide flexible capital to support businesses and create
value for our stakeholders and within our communities. By
collaborating across our investment groups, we aim to generate
consistent and attractive investment returns throughout market
cycles. As of September 30, 2023, Ares Management Corporation's
global platform had approximately $395 billion of assets under
management, with approximately 2,800 employees operating across
North America, Europe, Asia Pacific and the Middle East. For more
information, please visit www.aresmgmt.com.
About Automated Industrial Robotics Inc.
AIR is a newly formed industrial automation company focused on
acquiring and facilitating the growth of leading industrial
automation companies serving diverse end markets with strong
operational histories and tenured management teams. Grounded in a
culture of safety, transparency and pursuit of excellent customer
experience, AIR seeks to leverage complementary teams and
technologies to deliver innovative, cost-competitive solutions to
address the complex and challenging needs of global businesses.
About TA Systems
Located in the Metro Detroit area, TA Systems provides custom
automation assembly systems across many industries, applying a wide
range of proven technologies in the manufacturing environment. For
45 years, TA Systems’ vertical manufacturing processes have
provided unparalleled speed, quality, value, and service to its
customers. Its comprehensive product line reflects an in-depth
understanding of the most critical technologies essential for
automation in the decades ahead, showcasing its unwavering
commitment to innovation and excellence.
TA Systems takes pride in its commitment to ensuring the success
of its customers. It prioritizes delivering the highest value,
quality, and effective risk management tailored to its customers'
manufacturing requirements. With a wealth of experience and the
integration of TA Systems’ Enterprises Profitability Improvement
(EPI) System, TA Systems empowers its clients with a transparent
pathway for continuous improvement in both production and quality
enhancements.
For more information please visit the TA Systems website at
https://www.ta-systems.com/
About Modular Automation
Modular Automation, based in Shannon, Ireland, is a Tier 1
automation partner offering automation and integration solutions to
the world’s leading medical technology manufacturers. They excel in
the integration of the latest, enabling technologies such as
collaborative robots, autonomous mobile robots (AMR’s) and industry
4.0 applications. The company's excellence is rooted in a fusion of
pioneering design, advanced engineering, and an unwavering
dedication to precision.
Modular’s purpose is to enable the world’s leading medical
technology companies to manufacture sophisticated, ultra-high
quality, life-changing products, at scale. Over its almost 40-year
history, it has garnered a significant reputation with its
customers for delivering high quality, reliable automation
solutions. Modular has transformed into a beacon of innovation,
fostering a team of over 150 professionals committed to delivering
automated solutions specifically tailored for their medical device
customers.
For more information, please visit the Modular website at
www.modular-global.com
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version on businesswire.com: https://www.businesswire.com/news/home/20240124623739/en/
Ares Management Jacob Silber, +1-212-301-0376
media@aresmgmt.com or media.europe@aresmgmt.com
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