Keensight exits Asti Mobile Robotics to trade

Asti's products are to be integrated within ABB's robots, machine automation, modular solutions and software portfolio.

The GP acquired a substantial minority stake in the business in February 2019, deploying equity via Keensight Capital IV. The fund invests equity tickets of EUR 10m-30m, targeting European companies with revenues of EUR 15m-150m.

CEO Verónica Pascual Boé retained a majority stake in the business. She will continue to head the company, which will become the headquarters of ABB's autonomous mobile robots business.

During the investment period, Keensight supported the company's organic and acquisitive growth. Asti made add-on acquisitions, including bolting on Germany-based InSystems Automation.

Company
Founded in 1982, Asti produces autonomous mobile robots such as towing vehicles, goods-to-person systems, unit carriers and box movers. Its software portfolio covers functions including vehicle navigation and control, fleet and order management, and cloud-based tracing systems.

Asti employs 300 staff, versus 218 at the time when Keensight invested. The company has operations in its headquarters in Burgos in Spain, as well as France and Germany. Asti's revenues have grown by 30% each year since 2015 and the company is targeting revenues of USD 50m in 2021, according to a statement.

People
Keensight Capital – Jean-Michel Beghin (managing partner).
Asti – Veronica Pascual Boé (CEO).
ABB – Sami Atiya (president of ABB's robotics and discrete automation business).

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• Exits
• Southern Europe
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• Keensight Capital
• Trade sale