Eckhart | August 24, 2022
Arsenal Capital Partners ("Arsenal"), a private equity firm that specializes in investments in industrial growth and healthcare companies, today announced that it has completed an investment in Innovative Products & Equipment, Inc. ("Innovative"), which it will combine with Eckhart, Inc. ("Eckhart") to build a leading automation solutions provider serving highly complex applications in high-growth end markets. The terms of the Innovative acquisition were not disclosed.
Innovative, an automation solutions provider which focuses on the medical device and life sciences markets, represents Arsenal's second investment in the automation sector, following the acquisition of Eckhart in December 2021. Together, Innovative and Eckhart will provide specialized automation solutions, including Factory of the Future (design simulation) services, single & multi-cell automation systems, and fully automated assembly lines, as well as automation technologies, including Autonomous Guided Vehicles ("AGVs"), Autonomous Mobile Robots ("AMRs"), thermal bonders, servo presses, and semi-automated tooling.
"We are excited to work with the Innovative team to enhance our delivery of advanced, end-to-end automation capabilities for our customers, Rich, Eric, Dale, Kevin, and the rest of the Innovative team have developed a reputation in the medical device and life sciences markets for solving mission-critical issues for their customers, and we believe joining forces will position us well for our next phase of growth."
-Andy Storm, CEO of Eckhart.
Rich Brownstein, Principal and Co-President of Innovative, stated, We are thrilled to partner with Arsenal, Andy, and the Eckhart team. The scale, capabilities, and resources that we can provide as a combined company will allow us to strategically accelerate growth as we support our global customer base with higher productivity, efficiency, and precision. Arsenal's reputation and experience investing in innovation-forward industrial technology and healthcare companies gives us confidence in the future growth prospects of our industry and company.
"Innovative is the latest example of our commitment to invest significant capital behind the substantial growth in automation and expand our presence in attractive, specialized end markets, such as medical device and life sciences."
-Sal Gagliardo, an Operating Partner of Arsenal.
About Innovative Products & Equipment:
Founded in 1980 and headquartered in Hudson, New Hampshire, Innovative provides complex automation and product & process development solutions to blue-chip customers in specialized markets, with a focus on medical device and life sciences. Innovative's technologies and solutions include automated assembly and test systems, machine vision solutions, integrated robotics, and engineering services.
Eckhart, based in Warren, Michigan, designs, builds, and sustains advanced industrial solutions used to solve complex manufacturing needs. Eckhart's proven portfolio of Industry 4.0 technology includes autonomous guided vehicles (AGVs), collaborative robot systems, traditional robotics, assembly automation & simulation, 3D printing tool development & production, and Factory of the Future consulting for the world's largest manufacturers.
About Arsenal Capital Partners:
Arsenal Capital Partners is a leading private equity firm that specializes in investments in industrial growth and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds totaling over $10 billion, completed more than 250 platform and add-on acquisitions, and achieved more than 30 realizations. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value-add.
Hitachi Astemo | September 27, 2022
As a global leader in electrification, Hitachi Astemo, Ltd. (President & CEO: Brice Koch; henceforth, Hitachi Astemo) has received electric axle (e-Axle) orders for mid-size and large-size battery-electric vehicles from Honda Motor Co., Ltd. (Representative Director, President and CEO: Toshihiro Mibe; henceforth Honda), slated for a global rollout in 2026.
Hitachi Astemo as a systems integrator will deliver a high-performance, integrated drive unit for Honda, with the e-Axle system combining a highly efficient, silicon carbide (SiC) inverter; a square-wire, low-loss and high-efficiency motor; and a compact, quiet gearbox from a gearbox manufacturer.
A number of countries around the world have been expressing their commitment to achieving carbon neutrality, and automakers are accelerating the launch of environmentally friendly vehicles, which include electrified vehicles. Demand is expected to rise for e-Axles that are not only lightweight, compact and efficient, but also more efficient to manufacture, with lower cost through a reduced number of parts.
To this end, Hitachi Astemo will respond to the rapidly expanding e-Axle demand by expanding sales of its in-house developed electric axles to various automobile manufacturers globally. It will also supply motors and inverters for electric axles assembled by automobile and gearbox manufacturers.
Moving forward, Hitachi Astemo will strengthen its position as a global leader in electrification. This will be achieved by leveraging synergies from the 2021 merger of Hitachi Automotive Systems with Honda's Keihin, Showa and Nissin Kogyo groups, taking advantage of the integrated technologies and resources while further enhancing its global production bases. Specifically for the electrification business, it is aiming to invest 300 billion yen including R&D until fiscal 2025, increase sales revenue to over 400 billion yen in fiscal 2025 and more than double sales revenue by fiscal 2030.
Hitachi Astemo in cooperation with Hitachi's R&D Group boasts an inverter with industry-leading power density, thanks to its unique cooling power module and small, thin, highly heat-dissipating insulation mounting technology. Motors are Hitachi's founding product, and Hitachi Astemo has established a competitive advantage in torque density through the technologies it cultivated over the years—which include material development, analysis, sound-reducing and manufacturing technologies to develop the magnetic circuits comprised of magnets, electromagnetic steel sheets, and windings.
Hitachi Astemo also shows its strengths as a systems integrator, which includes optimization control software for motors and gears. By combining the differentiated technologies with cutting-edge technology from a gearbox manufacturer, Hitachi Astemo will provide cost-competitive e-Axles to automakers, with industry-leading efficiency, low vibration, low noise and modular design.
Hitachi Astemo is committed to strengthening its business and delivering technological innovation through a strategic business portfolio, which consists of the Powertrain & Safety Systems business, Chassis business, Motorcycle business, Software business and Aftermarket business. Aiming for a better environment globally and growth around the pillars of "green," "digital," and "innovation," Hitachi Astemo will deliver highly efficient internal combustion engine systems; electric systems that reduce emissions; autonomous driving for improved safety and comfort; advanced driver assistance systems; and advanced chassis systems. Through such advanced mobility solutions, Hitachi Astemo will contribute to realizing a sustainable society and provide enhanced corporate value for our customers.
Cyngn | October 03, 2022
Cyngn Inc. (the “Company” or “Cyngn”) (NASDAQ: CYN), a developer of innovative autonomous driving software solutions for industrial and commercial applications, today announced the selection of a U.S.-based manufacturing partner to scale production of its DriveMod Kit for autonomous stockchasers.
DriveMod Kit was launched in April 2022 (patent application filed in February 2022) as a scalable solution for integrating Cyngn’s autonomous technology onto stockchasers. The kit is designed for either retrofitting existing stockchasers or integration onto newly manufactured ones. DriveMod Kit’s ease of installation creates more flexible and rapid deployment options for customers that are interested in leveraging Cyngn’s Enterprise Autonomy Suite across a wide range of industrial and commercial domains. The ability for Cyngn to retrofit existing vehicles with DriveMod Kit is a unique offering in industrial vehicle automation as AMR and AGV solutions typically require new vehicles to be purchased.
By engaging a manufacturing partner, Cyngn anticipates substantially increasing the volume of DriveMod Kits that can be produced while reducing the cost of manufacturing these AV hardware integration modules. Companies with fleets of stockchasers will be able to reap the efficiency and safety benefits of autonomous industrial vehicles more quickly and at a lower cost by simply upgrading their vehicles as opposed to replacing them. The kit’s similar installation process for retrofits and end-of-line integrations also eliminates the supply chain dependency on new vehicles being built.
“Through our partnership with Columbia Vehicle Group, we have been exposed to the opportunities as well as the challenges that stem from the growing demand for industrial vehicles, We are seeing customers that already have hundreds or even thousands of stockchasers awaiting delivery of hundreds more to continue expanding and replenishing their fleets. This is straining new vehicle production and exacerbating the labor shortages experienced by businesses that are growing while struggling to fulfill staffing needs. We are pleased to have found a domestic contract manufacturer with an exceptional track record to help us create a scaled solution for autonomous deployments that eases the strain and dependency on vehicle supply chains and labor shortages.”
-Lior Tal, CEO Cyngn.
Cyngn is an autonomous vehicle technology company that is focused on addressing industrial uses for autonomous vehicles. Cyngn believes that technological innovation is needed to enable adoption of autonomous industrial vehicles that will address the substantial industry challenges that exist today. These challenges include labor shortages, lagging technological advancements from incumbents, and high upfront investment requirements. Cyngn addresses these challenges with its Enterprise Autonomy Suite, which includes DriveMod (modular industrial vehicle autonomous driving software), Cyngn Insight (customer-facing software suite for monitoring/managing AV fleets and aggregating/analyzing data), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling).