AutoStore acquired by Thomas H. Lee Partners
Summary
Private equity firm Thomas H. Lee Partners, L.P. announced on Tuesday, June 25, 2019, that it had a definitive agreement to acquire AutoStore, a Norwegian-based provider of robotics and software order fulfillment solutions to warehouses and distribution centers around the world. This marks at least third investment by THL in the supply chain and materials handling space in recent years. Founded in 1996 and located in Nedre Vats, Norway, AutoStore designs and engineers patented high- speed robots, highly modular and flexible cube storage grid systems and the proprietary controls software that enable its customers to achieve nearly four times the inventory storage relative to manual alternatives, with enhanced inventory picking speed and accuracy. The recapitalization will ensure AutoStore has the resources needed to build upon its leading robotic technology and software platform, accelerate new product innovation for its customers, and execute on broader global growth objectives. “Through its grid-based technology and proprietary software platform, AutoStore has demonstrated a superb reputation in the marketplace underpinned by its visionary engineering and R&D talent, impressive global distribution network, and exceptional product quality.