THL acquires majority stake in automation company House of Design
Private equity firm Thomas H. Lee Partners (THL) has acquired a majority stake in House of Design LLC, an Idaho-based provider of robotic automation systems and software that caters to the residential construction market.
The financial terms of the deal were not disclosed.
Thomas H. Lee Partners said that its investment will bolster the existing capabilities of House of Design and give capital and resources for future growth investments.
The co-founders of the robotic automation systems and software provider will hold a minority stake.
Shane Dittrich and Ryan Okelberry — Co-Founders of House of Design said: “THL brings the expertise and sophistication needed to reach the next stage in our Company’s growth, and we have a shared vision for how to get there.
“We are excited to partner with THL and leverage their deep automation expertise and financial and operational resources to fuel House of Design’s growth strategy.”
Established in 2012, the Nampa-based House of Design provides automated solutions for the building components and residential offsite construction sectors.
The company is engaged in designing and engineering robotic systems that are said to boost the production output and capacity of component manufacturers, while reducing the challenges resulting from labor shortages.
The proprietary software of House of Design’s system is said to produce complex variable trusses and wall panels without retraining or resetting of robots.
Thomas H. Lee Partners expects its investment in House of Design to expedite the latter’s ability to consolidate upon its robotic technology and software platform and bring new product innovation quickly for its customers.
Mike Kaczmarek — Managing Director at Thomas H. Lee Partners said: “Persistent labor scarcity in the construction industry is driving greater need for automated solutions, and House of Design’s offerings help address labor shortage and worker safety challenges while providing an attractive ROI to the customer.
“THL is excited to support House of Design in continuously growing and innovating its product offerings to help customers increase production throughput and revenue.”