Acquisitions · Factory automation (robotics)
Hitachi buys US robotic system integrator JR Automation for $1.425 billion
- Buyer
- Hitachi Ltd. (Tokyo)
- Target
- JR Automation Technologies, Holland, Michigan
- Value
- $1,425M (about ¥158.2B), cash-free/debt-free
- Status
- Agreed on April 24, 2019; completed in December 2019.
- Date
- 2019-04-24
Hitachi agreed to buy JR Automation Technologies, a robotic system integrator in Holland, Michigan, from private equity firm Crestview Partners for $1,425 million on a cash-free, debt-free basis. JR Automation designs and builds automated production lines for manufacturers.
Why it matters
The deal gave Hitachi a US base for building automated factory lines, a business that links its industrial equipment with its digital services.
The target
JR Automation, based in Holland, Michigan, designs and installs automated production systems that combine robots, machinery and controls. Its customers are manufacturers that need custom lines for assembly and testing. Crestview Partners, a New York private equity firm, was the seller. Hitachi described JR Automation as a robotic system integrator and bought it to expand that business in North America.
Closing
The price of $1,425 million was set on a cash-free, debt-free basis, about ¥158.2 billion at the time. The deal needed US regulatory approvals and was completed in December 2019.
Sources
Kakehashi M&A News home
