Stellantis NV, one of the world’s largest automakers, and One Equity Partners, a middle-market private equity firm, today said they have signed a binding agreement in which One Equity Partners will make a majority investment in Comau S.p.A. The companies did not disclose the financial terms of the private transaction.
One Equity Partners (OEP) said it expects the transaction, which is subject to regulatory approvals and other customary closing conditions, to close by the end of 2024.
“Comau is a leading-edge industrial automation company with first-rate robotics technology that has tremendous growth potential,” stated Ante Kusurin, partner at One Equity Partners. “We have deep expertise in executing complex corporate carve-out transactions, and we believe we have the resources to help position Comau as a successful standalone business.”
Founded in 1973, Comau specializes in industrial automation and advanced robotics. The Turin, Italy-based company also supplies collaborative robots, wearables, vision-based systems, and software.
At Automate this year, Comau announced new products. They included its S-Family welding and materials handling systems, the MI.RA/OnePicker system, and the MATE-XB and MATE-XT exoskeletons.
The former Stellantis subsidiary recently said it is shifting from traditional robotics to software-driven systems and industry-agnostic technologies.
“In its over 50 years of history, Comau has consistently demonstrated the ability to transform its business, technology, and approach to innovation,” said Pietro Gorlier, CEO of Comau. “This operation is consistent with Comau’s strategic plan, which aims to expand its business beyond the automotive sector, targeting the global demand growth for industrial automation.”
“This will also consolidate the company’s position as a strong international leader in its sector, maintaining solid Italian roots,” he added.
Comau’s spinoff from Stellantis was part of the strategic agreement set in January 2021, when Peugeot SA and Fiat Chrysler Automobiles NV merged to form the automaker and mobility provider. Executive Chairman Alessandro Nasi and CEO Pietro Gorlier will retain their responsibilities, as will Comau’s executive team.
“Comau has positioned itself as a recognized player in the field of automation solutions over the past 50 years,” said Stellantis CEO Carlos Tavares. “This planned transaction is designed to help Comau achieve autonomy and further strengthen its success in support of all its stakeholders, specifically for their employees and customers. It also gives Stellantis the ability to focus on core business activities in Europe.”
Comau said it has a local presence in all regions and a global network that is strengthened by its business and leadership continuity. As an autonomous company, it asserted that it can now independently identify and pursue new opportunities and investments.
Under the new ownership, Comau said it will have access to additional funds to grow its competencies in diversified sectors.
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