Global alternative investment asset manager Blackstone will invest in Futronic, a Korea-based actuator and motion control technology company. The move is seen as a bet on Futronic's growth potential as it expands its business beyond auto parts into the humanoid and general Robotics markets.
Blackstone said on the 20th that it recently signed a contract to acquire equity in Futronic through a private equity fund (PEF) it manages. The transaction was based on a partnership with Futronic founder Chair Ko Jin-ho. Ko will remain as chair and chief executive officer (CEO) and continue to lead management after Blackstone's investment.
Founded in 1993, Futronic is a corporations that has supplied high-precision actuators and motion control solutions to global auto original equipment manufacturers (OEMs). Backed by research and development (R&D) and supply chain management capabilities, it has established itself as a key partner for major auto platforms. Recently, it has been expanding its business into next-generation mobility, including humanoids and general Robotics.
It currently operates mainly out of Korea and the United States while pursuing expansion of overseas clients and the build-out of production and technology infrastructure.
Ko said, "Blackstone is a partner that shares Futronic's vision to provide advanced mechatronics solutions to customers and partners," adding, "We expect it will greatly help accelerate the company's global expansion and further solidify our leadership in actuation and motion control solutions."
Kuk Yu-jin, head of Blackstone Korea Private Equity (PE), said, "This partnership demonstrates our commitment to supporting the growth of visionary founders and family-run corporations through Blackstone's global scale, operating expertise and expert network."
With this investment, Blackstone aims to respond to growth in the humanoid and automation markets. Song Kyung-min, a managing director in Blackstone's PE division, said, "As AI converges with the real world, motion control technology is a core foundational technology," adding, "We believe Futronic can secure growth opportunities together with global clients."