Tennessee Industrial Electronics Completes Acquisition of Master Robotics
Tennessee Industrial Electronics ("TIE"), a portfolio company of Charlotte-based private equity firm Summit Park, is pleased to announce that it has acquired MASTER Robotics (“Master”). Headquartered in Almont, Michigan, Master serves the robotics industry and provides its customers refurbished parts sales, refurbished systems sales and repair, preventative maintenance and field services.
“Master’s comprehensive robotics knowledge and technical repair capabilities will enable TIE to greatly expand our service offering and better meet the needs of our customers,” said Tony Wisniewski, CEO of TIE. Wisniewski added, “The addition of Master significantly increases our domain expertise among the largest OEMs in the industry, including FANUC, ABB and Motoman, and enhances our go-to-market product offerings.”
TIE, based in La Vergne, Tennessee, is a leading provider of parts and repairs for computer numerical control ("CNC") systems. TIE specializes in refurbished FANUC aftermarket parts such as controls, motors and drives and holds an extensive inventory of over 75,000 parts. The company sells to a variety of machine tool end users and resellers across the United States and internationally.
“We are very pleased to acquire MASTER Robotics from its founders. The expertise and technical know-how that Master brings to TIE will enable us to more effectively serve our customer base, and it presents us with a significant opportunity to broaden our reach in the industry,” said Bob Calton, Co-Managing Partner at Summit Park.
This is the second acquisition made by TIE during Summit Park's investment. The company acquired The Parker Group of Companies in September 2016.
About MASTER Robotics
MASTER Robotics is a leading provider of robot refurbished part sales and services, including part repair, preventative maintenance, and field service. The company’s robot repair services focus on teach pendants, power supplies, amplifiers, CPU’s, servo motors, wrist assemblies, and other mechanical components. The company has extensive knowledge of the major OEMs in the industry, including FANUC, ABB, and Motoman. For more information, visit www.masterrobotics.com.
About Tennessee Industrial Electronics
Founded in 1992, TIE began by specializing in the sales of refurbished FANUC aftermarket parts such as controls, motors, and drives from an extensive inventory of over 75,000 parts. The company grew to become one of the largest providers of aftermarket support for CNC automation in North America. TIE has now taken its core model of deep industry expertise, outstanding customer service and unmatched response time to serve multiple parts of the industrial automation aftermarket including CNC, Robotics and Process Automation. www.tieindustrial.com.
About Summit Park
Summit Park is a Charlotte, North Carolina-based private investment firm focused exclusively on the lower middle market. The firm invests across a wide range of industries, including business services, outsourced services, light manufacturing and distribution. Summit Park targets businesses with revenue between $20 and $100 million and located in the Eastern half of the United States, including Texas. The firm's capital can be used to facilitate a change in ownership, to support expansion and growth, to provide partial liquidity to existing owners, or to support an industry consolidation plan. For more information, visit www.summitparkllc.com.