Stellantis Spins Off Industrial Robotics Division Comau

Stellantis, the automaker conglomerate that owns Alfa Romeo and Chrysler is selling its majority shares in industrial automation firm Comau to One Equity Partners (OEP).

Founded in 1973, Comau develops robotics solutions for industrial applications including smart inspection, automated picking systems and arm-based systems for handling goods.

Stellantis is spinning out Comau, with OEP taking a majority investment in the firm.

Stellantis will retain a minority share, with executive chair Alessandro Nasi, CEO Pietro Gorlier and the wider executive team maintaining their roles and responsibilities.

Stellantis CEO Carlos Tavares said spinning off Comau will help it achieve autonomy while allowing the automaker to focus on its core business activities.

The deal is expected to close by the end of 2024 and is subject to regulatory approvals.

"Comau is a leading-edge industrial automation company with first-rate robotics technology that has tremendous growth potential,” said Ante Kusurin, a partner at OEP. “We have deep expertise in executing complex corporate carve-out transactions and we believe we have the resources to help position Comau as a successful standalone business.”

Headquartered in Turin, Italy, Comau boasts a network of innovation centers across the globe, as well as manufacturing plants in 12 countries.

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Under the new ownership, Comau will be free to pursue new opportunities while having access to additional funds to expand its efforts from OEP.

“In its over 50 years of history, Comau has consistently demonstrated the ability to transform its business, technology and approach to innovation,” said Gorlier. “This operation is consistent with Comau’s strategic plan, which aims to expand its business beyond the automotive sector, targeting the global demand growth for industrial automation. This will also consolidate the company’s position as a strong international leader in its sector, maintaining solid Italian roots.”

Comau has developed more than 40 different industrial robots to help industrial firms enhance productivity and reduce energy consumption and labor costs.

It also offers collaborative bots, like the Racer5, an articulated arm robot designed to pick up and move objects at speed.

Comau has been developing robotic exoskeletons to help humans working in industrial environments lift and move cumbersome loads more easily.

Its MATE-XB wearable devices are designed to reduce excessive physical strain during work by assisting the wearer through additional lumbar support.

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The exoskeletons also contain a suite of sensors that monitor the wearer’s muscle conditions and provide metrics data on operations.

Comau was the first robotics supplier to partner with Intrinsic, the robotics subsidiary of Google parent Alphabet. Comau was the first to test Instrisinc’s Flowstate platform, leveraging it to create a modular solution for assembling plug-in hybrid electric vehicle modules.

More recently, the company announced a partnership with helicopter manufacturer Leonardo to develop a robotic solution to autonomously inspect chopper blades.