Automated material handling solutions provider Trew LLC has landed a round of financial backing that will help to grow its capabilities and capacity, the Ohio-based firm said today.
Specifically, Trew now plans to expand its product offering and project implementation capability, increase its advanced manufacturing capacity, and continue its investment in talent and management systems to grow and scale the business.
The investment comes from two New York private equity firms; American Industrial Partners (AIP) and Redwood Technology Ventures.
Terms of the deal were not disclosed, but Trew said AIP and Redwood have become minority shareholders, and the majority ownership structure of the privately held Trew has not changed.
According to the firm, this partnership will allow Trew to leverage AIP’s deep operational know-how and the extensive supply chain automation experience of Redwood.
Trew was formed in January 2019 by a group of warehouse automation industry veterans. The company is headquartered in Cincinnati, with additional facilities in Milwaukee, Wisconsin and the greater Toronto, Canada area.
“Trew has enjoyed rapid growth since its inception, and this provides the opportunity to make investments into our capabilities and capacities to fuel our continued growth and to get to our long-term goals quicker,” Jerry Koch, Trew’s vice president, Marketing and Product Management, said in a release.
