Crestview Partners

Assembly Line

Crestview Partners Completes Sale of JR Automation to Hitachi for $1.425 Billion

πŸ“… Date:

πŸ”– Topics: Acquisition

🏒 Organizations: JR Automation, Hitachi, Crestview Partners

Crestview Partners announced that it has completed the sale of JR Automation Technologies, LLC to Hitachi, Ltd. for $1.425 billion. The agreement to sell JR was announced on April 23, 2019, and all parties are pleased to have smoothly brought this transaction to a successful conclusion.

Mike DuBose, Crestview Senior Advisor, said, β€œSince our investment in JR in 2015, the company has grown dramatically from $170 million of sales and five production facilities in North America to $600+ million of sales and 23 facilities worldwide. Through that period, JR became the largest independent provider of custom automation systems in North America while simultaneously increasing international revenue to approximately 25% of total sales.”

Read more at PR Newswire