THL raises automation-focused fund with $900m

The Boston-based private equity firm Thomas H. Lee Partners announced the final close of its THL Automation Fund at $900 million. The fund backs automation companies across technology product, software and services businesses that enhance productivity across a range of end markets and use cases. The underlying investment opportunities take advantage of a range of technologies from software to artificial intelligence to robotics and additive manufacturing to systems design and integration. Together these technologies drive automation in e-commerce, distribution and logistics, manufacturing, healthcare, agriculture, food and beverage, financial services, real estate, consumer products and other sectors. “We created the fund to invest in companies driving step-function change through automation and to support management teams in accelerating growth with both capital and with a 20-member integrated team of automation experts,” said Jim Carlisle, managing director who leads the Automation Fund. He said that as a result of the pandemic automation is everywhere in the news now. “We started building our thesis, network and capability years ago because the fundamental drivers of adoption – labor pressures, business resiliency, efficiency gains, throughput improvements and more – were already top of mind for business leaders across sectors,” Carlisle added. THL’s affiliated funds and co-investors have deployed approximately $2 billion of equity in four platform companies and eight add-on transactions in the sector since 2017. The current automation platform companies include Autostore, Material Handling Systems, Fortna and Phytech.

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