New York-based private equity firm Crestview Partners has announced a majority investment in JMP Solutions
According to a released statement from Crestview, JMP is the first step in the firm’s strategy to invest $200 million of equity to build a market leading global automation solutions provider targeting the global $500-plus billion market, with a particular focus on the $70 billion global systems integration and connectivity segments, delivering fully automated solutions to customers.
JMP helps manufacturers and consumer-focused companies automate their production processes. Serving customers across a variety of industries, it develops systems that use robots, guided vehicles, conveyor belts and other equipment as well as software that connects those systems.
Founded in London in 1987 (the firm’s corporate head offices are located on Meadowbrook Drive and it operates an automation and robotics facility Hubrey Road), JMP has 15 business units in the U.S. and Canada that deliver more than 20,000 solutions to 1,000-plus clients globally.
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According to JMP president, Scott Shawyer, the JMP presence in London will remain and the leadership team will stay with the company in their current capacities. Crestview also plans to recruit additional team members to help execute its broad strategy.
“We are proud of the legacy and reputation we have built with our customers by providing high-quality automation solutions in North America for more than three decades,” says Shawyer, who will continue in his role as JMP president and remain a significant shareholder in the company.
“In recent years we have seen increasing demand among manufacturers, producers and distributors to partner with a single-source provider that can deliver comprehensive automation solutions across their facilities on a global basis,” continues Shawyer. “As we look to the future, we wanted to partner with an investment firm that understood our business and shared our vision for continued investment and growth to allow JMP to continue to provide market leading solutions to our customers.
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JMP marks Crestview’s fourth industrial technology investment in recent years and second investment in automation, following its acquisition of JR Automation in 2015, which it sold in 2019. Under Crestview’s ownership, JR expanded from $170 million of sales and five production facilities in the U.S to more than $600 million of sales and 23 facilities worldwide through both organic growth and four acquisitions, becoming a leading global provider of intelligent automated manufacturing, production and distribution technology. Other current Crestview industrial technology investments include ATC Drivetrain, Elo Touch Solutions and SyBridge Technologies.
“This investment builds on Crestview’s experience investing in industrial technology businesses to create global leaders,” says Alex Rose, co-president & partner at Crestview. “We systematically look for niche markets where we believe we can increase the scope of products and services offered and the geographic reach of the businesses to create global solutions providers in markets that lack them. In spite of its size, importance and growth, the automation industry remains highly fragmented and ripe for the development of another global technology leader. We are excited to partner with the team at JMP to help accelerate the company’s global growth and position the business for long-term success.”