The family that owns industrial equipment maker Rite-Hite is backing a new platform that seeks to build a “national network of legacy factory automation businesses.”
SixSibs Capital, which officials described as “the family investment office” of the White family, partnered in the formation of Heritage Automation Partners, which organizers said would be dedicated to “acquiring, building and integrating automation-focused distribution, assembly and engineering service companies across the United States.”
The business, officials added, hopes to preserve the legacies of privately held automation companies and “grow and build” them — “not flip.”
The company named Todd Boone, formerly of Motion, Wesco and Eaton, among other companies, as its president and CEO.
“Our goal is to create another lane for the automation industry — one focused on legacy, people and partnership rather than short-term exit strategies,” Boone said in a statement. “We believe in honoring what founders have built, while equipping them with the tools, capital and structure to thrive for decades to come.”
