Lear Corp. in Southfield has agreed to acquire WIP Industrial Automation, a systems integrator based in Spain specializing in advanced automation solutions for industrial applications. // Photo courtesy of WIP
Lear Corp., a global automotive seating and e-systems technology provider in Southfield, today announced it has agreed to acquire WIP Industrial Automation, a privately held systems integrator based in Spain specializing in advanced automation solutions for industrial applications.
The transaction, subject to regulatory approvals and other customary closing conditions, is expected to close by the third quarter of 2024. Its terms were not disclosed.
WIP, a long-time Lear supplier with 25 years of automation experience, develops, integrates, and deploys advanced technologies to create customized automation solutions for manufacturing applications. It brings robotics and AI-based computer vision capabilities to Lear, which are important for safety, quality, and efficiency in a modern manufacturing environment, Lear says.
“WIP brings valuable manufacturing engineering capabilities that are essential to advancing innovative automation solutions across our global operations,” says Ray Scott, president and CEO of Lear. “This acquisition will support Lear’s long-term strategy to strengthen our market leadership through operational excellence. We are thrilled to welcome the WIP team to the Lear family.”
According to the company, acquiring WIP positions Lear to operate more efficiently, thus allowing the company to “navigate current macroeconomic challenges, such as elevated wage inflation, more effectively.”
The acquisition is the latest of Lear’s investments designed to broaden its global automation and digital capabilities and builds on the company’s integration of ASI Automation, Thagora Technology SRL, and InTouch Automation. The collective expertise of WIP, ASI, Thagora, and InTouch equip Lear with a portfolio of automation solutions and technical knowledge that span all critical areas of the manufacturing process and will accelerate innovation in the development of next-generation automation technologies, Lear says.
“This transaction gives WIP a unique opportunity to become part of a world-class automotive company, marrying WIP’s expertise in robotics and AI technologies with Lear’s industry-leading knowledge in product design, engineering, and manufacturing processes,” says Ángel Rodríguez Fernández, co-owner and CEO of WIP. “Having valued Lear as a customer for many years, we are excited to join the Lear family and look forward to continuing to develop new innovations that leverage our combined capabilities.”
