Blackstone invests in Korean actuator maker Futronic

Blackstone (NYSE: BX) has entered into a definitive agreement for its private equity funds to make an investment in Futronic, a South Korea-based manufacturer of high-precision actuators for the automotive and industrial robotics industries, according to a press release statement.

Founded in 1993, Futronic operates primarily in Korea and the United States. The company supplies actuators to automotive original equipment manufacturers and is involved in early-stage engineering for mobility applications, including humanoid robots and general robotics.

Futronic's founder, Jin-ho Ko, will retain his roles as Chairman and Chief Executive Officer following the transaction. Financial terms of the investment were not disclosed.

Eugene Cook, Head of Korea for Blackstone Private Equity, said: "We are honored to partner with Chairman Ko and FUTRONIC's leadership team who have spent more than 30 years building a leading position in the global actuator industry."

Kyungmin Song, Principal at Blackstone Private Equity, said: "The convergence of Artificial Intelligence and the physical world is a key investment theme for Blackstone's Private Equity business, and we believe FUTRONIC's motion control solutions will be an important enabler of this megatrend."

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