Keensight inks first Spanish deal with Asti Mobile Robotics

The growth capital investment in Asti represents Keensight's first transaction in Spain, however the deal reflects Keensight's investment strategy of backing growing businesses headquartered in western Europe with a €15-200m turnover and that are niche leaders in the information technology, internet, healthcare and wellbeing sectors, , managing partner Jean-Michel Beghin told Unquote. "We look forward to investing in Iberia in the future," he added.  

Asti CEO Verónica Pascual Boé has retained a majority stake in the business. The deal was sourced on a bilateral basis, according to Beghin.

Keensight launched its fifth-generation vehicle in Q3 last year, targeting a €750m final close.

Company
Based in Burgos, Asti provides automated intralogistics products for large manufacturers, designed to optimise productivity. The products streamline production processes, cutting operational costs. It specialises in the engineering of automatically guided vehicles for warehouses.

Asti has offices in France and serves companies in 17 countries across the globe, employing 218 people and generating close to 75% of revenues outside of Spain. The company has experienced a compound annual growth rate of 53% on average since 2014. It generated a €30m turnover in 2014, Unquote understands.

Asti Mobile Robotics is part of Asti Technologies Group, founded in 1982.

People
ASTI Mobile Robotics - Verónica Pascual Boé (CEO).
Keensight Capital - Jean-Michel Beghin (managing partner).

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• Topics
• Expansion
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