Hitachi Ltd. is buying JR Automation from Crestview Partners for $1.43 billion. The transaction is expected to close in the second half of this year, pending customary closing conditions including regulatory approvals, according to a news release. JR Automation is based in Holland, Mich., and has facilities in Greenville and Liberty.
Lizzie Uhl, marketing and corporate communications manager for JR Automation, told GSA Business Report in an email that there are "currently no plans for layoffs, restructuring or closures."
JR Automation designs and builds custom automated equipment and provides services in the automotive, aerospace, medical device, pharmaceutical, food processing and construction industries. The company has more than 2,000 employees, 80% of which work in technical capacities, the release said.
"We are very excited to partner with Hitachi to take this next step in the company's evolution. 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," Bryan Jones, CEO of JR Automation, said in the release.
Since Crestview's investment in JR Automation in 2015, the...