Headquartered in Shoreview, Minnesota, PaR is a leading provider of integrated robotic automation and specialized material handling solutions. Founded in 1961, PaR serves the aerospace, medical device, marine/defense, nuclear, and additional select industrial markets.
MML acquired PaR in 2008 alongside the company’s management team and one of MML’s limited partners. During its ownership, MML supported the company on several acquisitions and its international expansion.
Commenting on the sale, Robert M. Davies, Managing Partner at MML said,
“We are pleased with the successful exit of PaR. The Company, with its diversified end markets and customer base, is well positioned to achieve its growth plan. We wish the management team and the new owners every success.”
Mark Wrightsman, CEO of PaR, added,
“MML’s support for key acquisitions has helped position the company for its next stage of growth.”
Houlihan Lokey, led by Scott Richardson, Donald Temple and Mike McElhenney, served as exclusive financial advisor to PaR. Winston & Strawn LLP, led by Chris Ferazzi, served as the company’s legal counsel.