Blackstone invests in South Korean robotics supplier Futronic

Blackstone Inc.

Blackstone Inc.

BX

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July 20 (Reuters) - Blackstone BX.N has invested in Futronic, a supplier of high-precision actuators serving automotive and industrial robotics sectors, the world's largest alternative asset manager said on Monday.

The deal values the South Korean firm at about 1 trillion won ($676.04 million), according to a person with knowledge of the matter.

Blackstone and Futronic did not immediately respond to requests for comment.

Here are a few details:

  • Blackstone said that private equity funds affiliated with the alternative investment firm have entered into a definitive agreement to make a significant investment in Futronic.

  • Futronic’s founder Jin-ho Ko will remain in his role as chairman and chief executive officer and work with Blackstone to accelerate the company’s global growth and end-market expansion.

  • Blackstone "will help drive our expansion and solidify our leadership in actuation and motion control solutions,” the founder said.

($1 = 1,479.2000 won)


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