SHANNON company Modular Automation has been acquired by the newly established Automated Industrial Robotics which is funded by a major US investor.
Operating for nearly forty years, Modular Automation has been a leading automation solutions provider in the medical technology industry.
In December 2019, the company announced plans to create 100 jobs by 2023 as part of the expansion of its Shannon facility. Modular currently has a workforce of 150.
Automated Industrial Robotics (AIR) was created by Ares Management Corporation (Ares) at the end of January. The industrial automation company is designed to capitalize on increasing global demand for manufacturing automation solutions. As of September 30, 2023, Ares’ global platform had approximately $395 billion of assets under management, with approximately 2,800 employees operating across North America, Europe, Asia Pacific and the Middle East.
To support AIR’s acquisition and growth strategy, substantial equity capital has been invested by Ares. AIR is focused on acquiring and facilitating the growth of differentiated industrial automation companies serving diverse end markets with strong operational histories and tenured management teams.
Ares founded AIR with Brian Klos and Darragh de Stonndún, Executive Chairman and Chief Executive Officer of AIR, respectively. Mr. Klos, most recently a Partner in the Ares Private Equity Group, brings over 17 years of M&A, organizational development and strategic advisory experience across a breadth of industries, including industrial technology and automation. Mr. de Stonndún, an industrial automation industry veteran, brings over 20 years of leadership and operational experience, including managing global key accounts at ATS Automation and co-founding BBS Automation.
As part of AIR’s launch, the company has acquired two companies including the Shannon based Modular Automation and Totally Automated Systems in Michigan.
Under the new structure, Modular will become the flagship for Med Tech Automation and offers growth opportunities through providing reach into the US Med Tech market.
Vivian Farrell, CEO of Modular, said, “This represents a significant milestone for Modular and empowers us to expand the reach of our innovative solutions and advanced automation capabilities for our global medical technology clients. Looking ahead, our teams are energized to continue building on our shared values and serving customers wherever they operate”.
Mr. Klos and Mr. de Stonndún stated, “With our initial investments in TA Systems and Modular, we are establishing a relationship-driven team with a blue-chip customer base across diverse industries. Through our integration, we will share our respective strengths as we continue to enhance efficiencies, drive technological innovation and industry-leading automation solutions to customers around the world”.
