Private Equity Firm to Invest Capital in New Platform Focused on Custom Automation Solutions
Resilience Capital Partners, a private equity firm that invests in middle-market companies, announced it has acquired TSS Technologies, a third generation business that provides total automation solutions from material handling and assembly to web handling and vision inspection. TSS provides custom automation systems to many Global 50 companies in sectors that serve medical device and life sciences, consumer goods/products, industrial, as well aviation and aerospace. Terms of the transaction were not disclosed.
TSS has operations in both West Chester, OH (headquarters) and in Carlsbad, CA under the name R&3D Technologies. Together TSS employs more than 100 professionals. The Company’s team of engineers utilizes a combination of experience and knowledge to solve the complex challenges of process automation. TSS specializes in implementing cutting edge technologies into any manufacturing operation and can deliver turn-key robotic cells or custom automation systems to meet its customer stringent requirements.
“We are excited about TSS’s bright future and look to build a leader in highly engineered custom automation solutions with a focus in the medical device and life sciences sectors,” said Bassem Mansour, co-chief executive officer of Resilience Capital Partners.
According to Ki Mixon, a Partner at Resilience, TSS’s chief executive officer, Marc Drapp will continue to serve as CEO under Resilience Capital Partners’ ownership and Shirish Pareek, an industry veteran, who has over 20 years of experience in technology enabled and advanced global manufacturing will become the Executive Chairman of the company’s Board of Directors. “Under both Marc and Shirish’s leadership we believe that TSS is well positioned for impressive strategic growth over the coming years and we look forward to our newest platform investment, which will focus on the growing trends in automation in both medical device and life science applications,” said Mixon.