Ares Management Corporation (NYSE: ARES) announced today the launch of a new industrial automation company, Automated Industrial Robotics Inc. (AIR), with the aim of capitalizing on the increasing global demand for manufacturing automation solutions.
Automated Industrial Robotics will focus on acquiring and growing differentiated industrial automation companies serving diverse end markets, such as automotive, home appliances and medical technology.
AIR was founded by Ares Private Equity Group Partner Brian Klos and industrial automation veteran Darragh de Stonndún, who will serve as Executive Chairman and CEO of AIR, respectively.
Automated Industrial Robotics has also acquired two foundational companies, TA Systems and Modular Automation, which have strong histories and expertise in designing and manufacturing automation solutions for various industries.
The founders and the acquired companies expressed their excitement and confidence in working with Ares and AIR to create a competitive global platform for industrial automation, driven by innovation, efficiency and customer satisfaction.