Transaction Reinforces AIR's Presence in Europe and Enhances its Capabilities for Integration of Advanced Robotics into Automated Systems
Vivian Farrell Promoted to President of Automated Industrial Robotics, Ireland
Automated Industrial Robotics Inc. ("AIR" or the "Company") today announced the acquisition of Robotics & Drives ("RDS"), an Ireland-based industrial automation company focused on delivering innovative solutions through robotics technology. The transaction further reinforces AIR's presence in Europe, strengthens the Company's ability to integrate robotics solutions into its automated systems and adds to the product portfolio. The transaction was funded primarily by an additional investment from an Ares Management Private Equity fund ("Ares").
Founded in 2005 by Ken McNevin, Stephen Nolan and Sharon McNevin, RDS develops intelligent robotics solutions tailored to specific customer needs with the goal of increasing quality, efficiencies and competitiveness. In addition to these bespoke solutions, RDS delivers a wide range of standardized robotic offerings that are easy-to-install and mobilized with minimal downtime. RDS is one of the largest robotics solutions providers in Ireland today with customers across various sectors, including CPG, food and beverage, medical devices, personal care, pharmaceutical and industrial cloud solutions. Supported by approximately 50 team members, RDS operates out of a 32,000-square-foot facility in Mullingar that also serves as an integrated robotics training center.
RDS' capabilities in robotic software development and systems design meaningfully expand AIR's offering for its diversified customer base. As part of AIR, research and development will continue to drive innovation in RDS' solutions, and AIR will continue to leverage the significant engineering experience and capabilities in each of its hubs to offer a differentiated suite of automation offerings to simplify customers' procurement processes. With the addition of RDS and its team of primarily engineers, AIR now has over 500 employees and an automation hub footprint of over 300,000 square feet across the United States, Ireland and the United Kingdom.
In connection with this acquisition, the Company is also pleased to announce the appointment of Vivian Farrell to the role of President of AIR, Ireland. Ms. Farrell is the current CEO of Modular Automation ("Modular"), which was acquired by AIR in 2023. In her expanded role, Ms. Farrell will oversee the implementation of AIR's organic and inorganic growth strategy across all of the Company's business units in Ireland, including Modular and RDS.
AIR Executive Chairman Brian Klos and Chief Executive Officer Darragh de Stonndún said, "We see tremendous growth potential in the demand for automated solutions, and we are excited to welcome the RDS team to AIR. We feel a strong sense of alignment with the RDS team and look forward to even greater opportunities for growth as we continue to invest in enhancing our talent, capabilities and innovation."
Ken McNevin, Managing Director of RDS, said, "We are proud of the leading position RDS has earned in Ireland thanks to our team's technical expertise and strong customer focus, and we are pleased to join AIR and facilitate RDS' next phase of development. We are confident that AIR will help our organization further strengthen its customer service and offering, and we are excited to contribute RDS' unique robotics capabilities for application across the entire AIR organization."
Vivian Farrell, President of AIR, Ireland, said, "Since joining AIR in 2023, I have already seen the significant positive impact on Modular and our increased ability to meet customers' needs. I am excited to continue leading Modular as well as partnering with the RDS team as we take this step to further capitalize on the demand for automated solutions in Ireland."
Terms of the transaction were not disclosed.
About Automated Industrial Robotics Inc.
AIR is an 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. With over 500 employees, AIR is currently serving a global customer base across four facilities located in the United States, Ireland and the United Kingdom.
About Robotics & Drives
RDS was founded in 2005 in Mullingar in response to the growing need for Robotics and Automation for manufacturing in Ireland. The company's mission is to expand the boundaries of robotic technology by delivering highly innovative solutions for its clients. RDS currently employs ~50 people, mainly highly skilled robotic engineers and is one of the largest robotics solutions providers in Ireland. The growing team of engineers help the world's most progressive manufacturers achieve unprecedented results. For more information, please visit RDS' website at https://www.roboticsanddrives.ie/.
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, real estate, private equity 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 June 30, 2024, Ares Management Corporation's global platform had over $447 billion of assets under management with more than 2,950 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.
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