Vaaka Partners has sold its holding in Robotronic to Victor Technologies
Victor Technologies announced on July 13,2012 that it has acquired all of the capital stock of Robotronic Oy. Established in 1986, Robotronic Oy is a leading maker of advanced, intelligent CNC controllers used in shape-cutting machines. ProMotion Controls, with operations in Medina, Ohio, is the U.S. subsidiary of Robotronic, with operations in Tampere, Finland. As a leading provider of cutting, welding and gas control solutions, Victor Technologies will incorporate all the acquired technology and operations into those of its Thermal Dynamics® brand.
“We are very pleased with the transaction and the fact that Robotronic’s innovative technology and services will be incorporated into a large international network allowing a strong further development”, says partner Ilkka Pentikäinen of Vaaka Partners.
Headquartered in St. Louis, Missouri, USA, Victor Technologies is a global manufacturer dedicated to developing innovative solutions for cutting, welding and gas control applications. Victor Technologies employs more than 2,100 people. Victor Technologies is a portfolio company of a private equity firm Irving Place Capital.