Home New loan The company’s expansion into the industrial automation market continues

The company’s expansion into the industrial automation market continues

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MONTREAL , February 9, 2022 /PRNewswire/ – Kinova®, a leading private developer of robotic solutions in the medical and industrial markets, announced the pre-closing of investments totaling $40 million (32 million US dollars), led by Graham Partners with participation from Export Development Canada (EDC). The robotics company is also pleased to announce the preliminary conclusion of an agreement with the government of Canada under the Strategic Innovation Fund (SIF) for a total of $20 million (16 million US dollars).

These investments will accelerate the development and commercialization of Kinova’s solutions. Additionally, the Canadian robot maker will use the funds to augment engineering resources to meet global customer demands. New products for industrial markets will be announced later in 2022.

“Kinova stands to benefit from Graham Partners’ deep medical and industrial technology expertise, as well as experience deploying automation solutions across its portfolio of leading manufacturing and industrial technology businesses. Graham Partners will leverage its industry resources, operational expertise and knowledge to support Kinova’s growth,” said Charles DeguirePresident and CEO of Kinova.

Denis DuneganManaging Director of Graham Partners, added, “We believe Kinova’s cobot technology and expertise in medical and industrial applications is unique in the robotics industry. We are excited to leverage our expertise to help drive value creation and growth at Kinova. Marc BelangerChief Financial Officer of Kinova, added, “We are delighted to have Graham Partners and EDC as shareholders. They will allow Kinova to continue its impressive international growth, both organically and through acquisitions.

“Canadians are developing innovative solutions to real-world problems and our government will always be there to support them. Kinova’s robotic products demonstrate this kind of innovation and we’re proud to support them as they increase manufacturing, create high-quality jobs and help grow from Canada world leadership in the next generation of robots,” said the Honorable François-Philip ChampagneMinister of Innovation, Science and Industry.

The company was supported in the transaction by Fasken Martineau DuMoulin LLP as legal counsel. Dechert LLP and Stikeman Elliott LLP acted as legal advisors to the investors.

About Kinova
Kinova Inc., headquartered in Boisbriand (Greater Montreal), Quebec, Canada, is a leader in innovative robotics. Founded in 2006, the company designs and manufactures robots for various markets, including medical robotics, assistive robotics, research and education, and more recently industrial and professional automation. Kinova’s ingenious technology enhances and extends customer capabilities with a human-first approach to meet the growing need for robotics in increasingly complex industries. For more information, visit kinovarobotics.com

About Graham Partners
Graham Partners is a private equity firm focused on investing in technology-driven companies that drive innovation in advanced manufacturing, driving product substitutions, raw material conversions and disruptions to traditional end markets . Since the company was founded in 1988 by Steven Graham, Graham Partners has completed more than 140 acquisitions, joint ventures, financings and divestitures. Committed capital raised since inception through Graham Partners funds as well as Graham-led co-investments totals approximately $3.6 billion, which differs from regulatory Assets under management. Based in the suburbs philadelphia creamthe company has access to extensive operating resources and industry expertise and is a member of the Graham Group, an alliance of independent operating companies, investment firms and philanthropic entities, all of which share the common entrepreneurial heritage Donald Graham. For more information, visit grahampartners.net

About EDC
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses of all sizes succeed on the world stage. As global risk experts, we equip Canadian businesses with the tools they need – the business knowledge, financing solutions, equity, insurance and relationships – to grow their business with confidence. Underlying all of our support is a commitment to sustainable and responsible business. To help Canadian businesses facing extreme financial challenges caused by the global response to COVID-19, the Government of Canada expanded EDC’s national capabilities to December 31, 2021. This expanded mandate will allow EDC to extend its support to companies focused on the domestic market. For more information, visit edc.ca

SOURCE Kinova Robotics