BOSTON / ACCESSWIRE / June 2, 2020 / MassRobotics and Thomas H. Lee Partners, L.P. ("THL") announced today a partnership to bring together their extensive market knowledge, expertise, and networks to advance the scaling of automation-related businesses across robotics and artificial intelligence startups. Based in the Boston area, MassRobotics is the first and largest robotics startups escalator in the world. The collective work of this group of engineers, rocket scientists, and entrepreneurs is focused on the needs of the robotics industry. THL is a leading private equity firm with a dedicated practice exclusively focused on automation.
"The automation, robotics, and artificial intelligence industry is a rapidly expanding market, and one that will define the future of many industry verticals on a global basis. We are thrilled to be partnering with such a well-established investment firm and key player in the private equity space," noted Fady Saad, MassRobotics Co-founder and Vice President of Strategic Partnerships.
"MassRobotics has substantial knowledge and built a deep network in the robotics industry, and we look forward to sharing our knowledge and expertise with THL to support the scaling of the next generation of thriving robotics companies," added Thomas Ryden, MassRobotics Executive Director.
Mike Kaczmarek of THL said, "We are thrilled to support MassRobotics as they fuel the next generation automation and robotics companies. We look forward to collaborating with MassRobotics and their network of promising companies and accomplished executives." Kaczmarek will serve on MassRobotics' Advisory Board and will help further establish Massachusetts as a thought leader in the automation and robotics sector.
Robotics is emerging as a key technology among companies large and small, and across myriad industries. As a result, MassRobotics has increased its strategic partnership relationships, bringing significant companies and organizations into the MassRobotics community. These corporate partners provide strategic guidance, helped fund MassRobotics' new expansion facility, and fuel the organization's programming. MassRobotics' partners represent a range of companies and industries pursuing innovative robotics solutions, and include Amazon Robotics, Cowen, Harmonic Drive, Husqvarna, MITRE, AeroVironment, Festo, Panasonic and Mitsubishi Electric.
In January, Massachusetts Governor Charlie Baker, Boston Mayor Martin J. Walsh, MassRobotics' founders, partners, residents and the regional robotics industry joined in a ribbon-cutting to celebrate the grand opening of MassRobotics' new world-class facility. MassRobotics is currently leading a cluster of the highest concentration of robotics companies in the world with approximately 350 companies, 47 resident startups and 40 strategic partners.
About MassRobotics
MassRobotics is the result of the collective work of a group of engineers, rocket scientists and entrepreneurs with a shared vision to create a strong, vibrant robotics and IoT ecosystem in Massachusetts. MassRobotics' mission is to help create and scale the next generation of successful robotics and connected devices companies by providing entrepreneurs and innovative robotics/automation startups with the workspace and resources they need to develop, prototype, test and commercialize their products and solutions. See www.massrobotics.org for details.
About Thomas H. Lee Partners, L.P.
Thomas H. Lee Partners, L.P. is a premier private equity firm investing in growth companies headquartered primarily in North America. Based in Boston, THL focuses its investment activity across four industry sectors: Consumer, Financial Services, Healthcare and Technology & Business Solutions. Since its founding in 1974, THL has raised more than $26 billion of equity capital, invested in over 150 companies and completed more than 400 add-on acquisitions representing an aggregate enterprise value at acquisition of over $200 billion. With dedicated sector and operating teams, THL brings deep domain expertise and resources to build great companies by helping to accelerate growth, improve operations and drive long-term sustainable value in partnership with management. THL's current automation portfolio consists of companies such as AutoStore, Fortna, and Material Handling Systems (MHS), among others. THL invests in automation opportunities through a sector focused automation strategy, as well as through its flagship private equity strategy. For more information, please visit www.thl.com.
Media Contacts:
Olivia Martin or Andrew Doucette
Mower Agency on behalf of MassRobotics
massrobotics@mower.com
781-893-0053
SOURCE: MassRobotics
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