Resilience Capital Partners has acquired West Chester, Ohio-based TSS Technologies, a provider of automation solutions. No financial terms were disclosed.
CLEVELAND, Jan. 3, 2019 /PRNewswire/ — 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.
TSS Technologies provides complex electro-mechanical assemblies and turnkey contract manufacturing solutions. With over 65 years of success and growth, TSS’s expansive quality certifications, unique business unit structuring, and broad engineering capabilities have made it a leader in a variety of industries.
For more information, visit us on the web at www.TSS.us.com.
About Resilience Capital Partners
Headquartered in Cleveland, Ohio, Resilience invests in niche-oriented manufacturing, value added distribution and business service companies with sustainable market positions and a clear path to cash flow improvement. Resilience targets platform businesses with $25 million to $250 million in revenues across a broad range of industries where it can improve a company’s operations, competitive positioning and profitability. Resilience manages in excess of $685 million for its global investor base which includes pension funds, insurance companies, foundations and endowments, fund of funds and family offices. For more information, please visit www.resiliencecapital.com.