SoftBank to Acquire 40% of AutoStore; Investment Reinforces AutoStore's Global Automation Leadership
SoftBank has finalized a deal to acquire a 40% stake in AutoStore from Thomas H. Lee Partners and EQT. The transaction strengthens AutoStore's position in the automation industry, which boasts over 600 installations and 20,000 robots worldwide. SoftBank's investment aims to accelerate AutoStore's growth, particularly in the Asia-Pacific market. The acquisition is expected to complete in April 2021 and will allow both THL and EQT to retain their board representation alongside SoftBank.
- SoftBank's investment of 40% positions AutoStore for significant growth.
- Expands AutoStore's capabilities in the Asia-Pacific market.
- Increased board representation enhances strategic direction.
- None.
NEDRE VATS, Norway, April 5, 2021 /PRNewswire/ -- AutoStore, a leading global robotics and software company, today announced that SoftBank has entered into a definitive agreement to acquire
AutoStore currently has a global blue-chip customer base with more than 600 installations and 20,000 robots across 35 countries. Its automated storage and retrieval systems, coupled with its proprietary software, provide customers with high throughput, enhanced configurability and high levels of flexibility to serve the increasing demands of today's supply chains. AutoStore's innovative cubic design allows customers to either store four times the inventory in the same space, or all of their existing inventory in
Masayoshi Son, Chairman & CEO of SoftBank Group Corp. said: "We view AutoStore as a foundational technology that enables rapid and cost-effective logistics for companies around the globe. We look forward to working with AutoStore to aggressively expand across end markets and geographies."
Karl Johan Lier, President & CEO of AutoStore, said: "We are delighted for SoftBank to join the AutoStore team as we continue on our journey to automate all commerce and deliver best-in-class automation solutions to our customers. Our world-class investor group brings exceptional experience from multiple geographies, and we are thrilled to have SoftBank's leadership and support on a global scale, but particularly with our vision for growth in Asia-Pacific."
Jim Carlisle, AutoStore's Chairman of the Board and Managing Director at THL, and Mike Kaczmarek, Managing Director at THL, said: "We believe the SoftBank partnership, in support of Karl Johan and the fantastic team at AutoStore, will help accelerate growth and unlock AutoStore's massive potential. We are thrilled to welcome SoftBank as our new partner and are very excited for what the future holds for AutoStore."
The transaction is subject to customary closing conditions and is expected to be completed this month, in April 2021.
About AutoStore
Founded in 1996, AutoStore is a robotics technology company that invented and continues to pioneer Cube Storage Automation, the densest storage technology. Its focus is to combine software and hardware with human capabilities to further develop the future of efficient warehouses. In all, more than 20,000 AutoStore robots are currently deployed in over 600 installations across 35 countries. Sales, designs, and installations are carried out by a network of qualified integrators who are its partners. Its headquarters are in Nedre Vats, Norway, and it has offices, warehouses and / or manufacturing sites in Norway, the USA, the UK, Poland, Germany, France, Korea, Japan, Spain, Italy and Austria. https://autostoresystem.com/
About SoftBank
The SoftBank Group invests in breakthrough technology to improve the quality of life for people around the world. The SoftBank Group is comprised of SoftBank Group Corp. (TOKYO: 9984), an investment holding company that includes stakes in telecommunications, internet services, AI, smart robotics, IoT and clean energy technology providers; the SoftBank Vision Funds, which are investing more than US
About Thomas H. Lee Partners
Thomas H. Lee Partners, L.P. ("THL") is a premier private equity firm investing in middle market growth companies exclusively in three sectors: Financial Services, Healthcare and Technology & Business Solutions. THL couples deep sector expertise with dedicated internal operating resources to transform and build great companies of lasting value in partnership with management. The Firm's domain expertise and resources help to build great companies with an aim to accelerate growth, improve operations and drive long-term sustainable value. Since 1974, THL has raised more than
About EQT
EQT is a purpose-driven global investment organization with more than EUR 84 billion in raised capital and over EUR 52 billion in assets under management across 17 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. https://www.eqtgroup.com/
Media Contacts
For AutoStore / Thomas H. Lee Partners / EQT
Brunswick Group
US: Matt Levine at +1-212-333-3810 or mlevine@brunswickgroup.com
UK & Europe: Tim Danaher at +44-20-7404-5959 or tdanaher@brunswickgroup.com
All other markets: autostore@brunswickgroup.com
For SoftBank
Sarah Lubman at +1.650.784.5596 or Sarah.Lubman@softbank.com
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SOURCE AutoStore
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