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QIA, AIT and Onex announce partnership


Plano, Texas, Doha, ​Qatar, and Toranto, 22 February 2022: AIT (the “company”), together with its founding management and Onex Corporation (“Onex”) (TSX: ONEX), today announced that Qatar Investment Authority (“QIA”)​, the sovereign wealth fund of the State of Qatar, through its affiliates, has agreed to acquire a minority interest in AIT, the world’s largest provider of factory automation to the aerospace, defense, and space launch sectors. The transaction is expected to close in 2022, subject to regulatory conditions and approvals. 

​QIA will acquire its interest in AIT through a combination of primary capital and partial sales by the company’s two existing shareholders, AIT’s founding management team and Onex Partners IV. Following the transaction, all three parties will assume minority joint ownership of the company. 

​“QIA is among the world’s most sophisticated investors. We’ve been deliberate in our choice of partner and are excited for this next chapter in our history,” commented Ed Chalupa, AIT’s Founder, Chairman and Chief Executive Officer. “AIT is emerging from the pandemic with the highest quality contracted backlog in its history. Our ability to attract high quality investors is testament to the critical role automation technology is playing in restoring factory production rates, easing cost pressures and enabling industry product launches after a two-year pandemic disruption.” 

​Mr. Mansoor bin Ebrahim Al-Mahmoud, Chief Executive Officer of QIA, said: “We continue to target value added growth businesses in automation and productivity enhancing industries globally. We’re excited to partner with AIT, as it looks to address demand post pandemic, while exploring new avenues for innovation in space launch and urban air mobility.” ​