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Keensight acquires ASTI Mobile Robotics stake

Keensight Capital has acquired a minority stake in ASTI Mobile Robotics.

Part of ASTI Technologies Group, ASTI Mobile Robotics provides automated intralogistics solutions for large manufacturers that optimise productivity, streamlining production processes and cutting operational costs. The company notably specialises in the engineering of Automatic Guided Vehicles (AGVs).
The company serves blue-chip customers across a wide range of sectors including automotive, aerospace, food, e-commerce, pharmaceutical and cosmetics. The European AGV leader in terms of volume sold, ASTI benefits from one of the largest solutions portfolios and European installed base of automated vehicles.
Based in Burgos (Spain) and with offices in France, ASTI Mobile Robotics counts 218 employees, serving companies in 17 countries across the globe. The company has experienced a very strong growth with a CAGR of 53 per cent since 2014, and benefiting from a significant international presence, with close to 75 per cent of its revenues generated outside Spain.
Driven by structural trends such as industrial automation and robotisation, AGVs are one of the building blocks of the Industry 4.0 with a market size expected to grow at a double-digit pace over the next 5 years. Keensight Capital, through its extensive expertise in the IT sector, will support ASTI in the expansion of its activities internationally through organic growth as well as sizeable bolt-on acquisitions.
Verónica Pascual Boé, Chief Executive Officer of ASTI Mobile Robotics, says: “We are pleased to welcome Keensight Capital as new shareholder. It was important for us to choose an international partner with a deep understanding of the HighTech market and the financial strength to support our growth ambitions. Both shareholders and partners, Keensight Capital and ASTI Technologies Group, share a strong vision of how the company can be developed over the next few years by extending our geographic reach, and further enhancing our proprietary technologies, our solutions and services.”
Jean-Michel Beghin, Managing Partner at Keensight Capital, adds: “ASTI enjoys a leading position in the AGV segment, a high-growth market with sustainable drivers. The company benefits from an exceptional management team and a proven business model that has had a continuous track record of growth over a long period. We are very excited to support Verónica and her team in pursuing this successful path, through international expansion and targeted acquisition activity.”

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