Genesis Systems Group has been sold to IPG Photonics
Lincoln International is pleased to announce that Genesis Systems Group has been sold to IPG Photonics Corporation (NASDAQ: IPGP) for $115 million.
Headquartered in Davenport, Iowa, Genesis is a leading integrator of robotic welding and automation solutions. Genesis develops innovative robotic system solutions for applications that include welding, non-destructive inspection, machine vision, materials handling, removal and dispensing. Operating production facilities in the U.S., Mexico and Japan, Genesis is a qualified robotic systems integrator for 300+ blue-chip customers in the transportation, aerospace and industrial end markets. Genesis has 35 years of robotic system design and integration experience, having integrated 6,500+ robots with workcells in 43 U.S. states and 17 countries.
Pat Pollock, Genesis President & CEO, commented, “Lincoln did an excellent job guiding our team throughout the sale process, and we thank them for their expertise over a multi-year partnership. Lincoln’s deep understanding of the robotics and automation sectors proved critical in finding the best partner for the next stage of Genesis’ growth.”
IPG Photonics Corporation is the leader in high-power fiber lasers and amplifiers used primarily in materials processing and other diverse applications. The company’s mission is to make its fiber laser technology the tool of choice in mass production by delivering superior performance, reliability and usability at a lower total cost of ownership.
Lincoln International acted as the exclusive investment banking representative for Genesis, working closely with the Company’s management team and shareholders throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
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