Blackstone's private equity funds agreed on 20 July to make a significant investment in FUTRONIC, a Korean maker of high-precision actuators, in a deal that local media reported gives Blackstone control.
Why Blackstone (private equity funds) is buying FUTRONIC
Blackstone said the convergence of artificial intelligence and the physical world is a key theme for its private equity business and that FUTRONIC's motion-control products will be an important enabler of humanoids and automation.
“Humanoids and broader automation are still in the early innings of exponential growth, and FUTRONIC can play an important role for its world-renowned current and future customers.”
Deal terms and financing
Founder Jin-ho Ko stays as chairman and chief executive and, according to Korea Economic Daily, as the second-largest shareholder. Financial terms were not disclosed.
Market context
FUTRONIC was founded in 1993, has primary operations in Korea and the United States and supplies many automotive OEM platforms. Blackstone has previously bought Korea's Juno Hair.
