The investment gives Blackstone exposure to a South Korean supplier of high-precision actuators for automotive and industrial robotics, with founder Jin-ho Ko staying on as chairman and chief executive officer.
Blackstone has agreed to make a significant investment in Futronic, a South Korean supplier of high-precision actuators used in the automotive and industrial robotics sectors. A person with knowledge of the matter said the deal values Futronic at about 1 trillion won, equivalent to $676.04 million. Blackstone said private equity funds affiliated with the alternative asset manager entered into a definitive agreement, while Futronic founder Jin-ho Ko will remain chairman and chief executive officer and work with the firm to speed global growth and expand into more end markets. Ko said Blackstone "will help drive our expansion and solidify our leadership in actuation and motion control solutions."