Overview
Brooks Automation, which develops robotics and software automation platforms, is weighing a public listing, according to people familiar with the matter. The company, backed by private equity firm Thomas H. Lee Partners, has engaged in conversations with potential advisers as it considers the possibility of an initial public offering.
Background on the company and transaction
The operation in question was carved out from the former Brooks Automation and was bought by Thomas H. Lee Partners in a transaction announced in 2021 and completed the following year. The purchase was for $3 billion in cash. After the carve-out, the remaining segment of the prior Brooks Automation that focuses on life sciences adopted the name Azenta Inc. and remains listed on NASDAQ under the ticker AZTA.
Business footprint and markets served
Brooks Automation's products and platforms are deployed across semiconductor manufacturing, life sciences and other advanced industrial settings. The company employs more than 2,000 people and operates across locations in about 14 countries, reflecting a multinational presence in markets that link automation hardware and software with complex production environments.
Current status and caveats
Discussions remain ongoing and people familiar with the situation cautioned that specifics of any offering could change. The company is in the stage of consulting potential advisers, and no definitive terms, timeline or commitments have been disclosed.
Implications
An IPO pursuit would mark a step in the lifecycle of a private-equity owned automation business evaluating public markets, but with deliberations described as ongoing, the outcome and structure of any transaction are uncertain at this stage.