HOLLAND, Mich. — JR Automation was sold by the equity firm, Crestview Partners, to Tokyo-based Hitachi, Ltd. for over $1.4 billion.
JR Automation is headquartered in Holland and it is a leading provider of automated manufacturing and distribution technology. They have customers all over the world.
There are about 2,000 employees across JR Automation's 23 manufacturing facilities. The company was founded in 1980.
Despite its global reach, JR Automation often hires local college grads from schools like Grand Valley University, Lake Superior State University, Western Michigan University and Hope College.
RELATED: Made in Michigan: JR Automation
Crestview Partners said they invested in JR Automation in 2015, and since then the company has grown from $170 million in sales to $600 million.
“The team at Crestview is incredibly proud of the dramatic growth and transformation of JR resulting from our successful partnership with the JR team," said Alex Rose a partner and co-head of industrials at Crestview. "We want to thank outgoing Chairman Mike DuBose and CEO Bryan Jones as well as the rest of JR’s employees for their hard work and dedication."
Hitachi, Ltd. is headquartered in Tokyo, Japan. It is a multinational conglomerate company with products and services in a number of industries. They have approximately 307,000 employees worldwide.
“We are very excited to partner with Hitachi to take this next step in the company’s evolution," said Bryan Jones, the CEO of JR Automation. "With our combined capabilities, Hitachi and JR will be a uniquely qualified global leader in next generation smart manufacturing, and this partnership will enable us to continue to drive tangible value creation for our customers through innovative custom solutions."
The sale is expected to closed in the second half of 2019.
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