PAR Systems Company Profile

Background

Company Overview

PAR Systems, LLC, established in 1961 as a spin-off from General Mills, is a systems engineering firm headquartered in Shoreview, Minnesota. The company specializes in designing and integrating automated manufacturing and material handling equipment, serving industries such as aerospace, nuclear, marine, and life sciences. With over 60 years of experience, PAR Systems has delivered and supported more than 8,000 systems across 30+ countries.

Mission and Vision

PAR Systems is dedicated to improving productivity and safety by building and supporting innovative, high-value remote and robotic systems. Their vision is to be a global leader in intelligent manufacturing, bringing customers' innovations to life through intelligent systems that deliver next-level quality, precision, and adaptability.

Industry Significance

Operating in highly regulated and precision industries, PAR Systems plays a crucial role in sectors such as life sciences, aerospace, and nuclear energy. Their expertise in automation and robotics has been instrumental in projects like the safe dismantling of Chernobyl and the manufacturing of aerospace components.

Key Strategic Focus

Core Objectives

PAR Systems aims to enhance manufacturing processes by providing innovative automation solutions that improve efficiency, safety, and precision across various industries.

Areas of Specialization

• Automated Manufacturing: Designing systems for the production of medical devices and aerospace components.

• Material Handling: Developing solutions for hazardous environments, including nuclear facilities.

• Robotics: Integrating robotic systems for tasks such as inspection, testing, and assembly.

Key Technologies Utilized

• Robotic Gantries: For precise material handling and assembly tasks.

• CNC Waterjet Cutters: For high-precision cutting in manufacturing processes.

• Robot Controllers: To manage and coordinate robotic operations.

• Robotic Inspection Systems: For non-destructive testing and quality assurance.

Primary Markets Targeted

• Aerospace: Supplying equipment for precision cutting, trimming, drilling, coating, scanning, and non-destructive testing.

• Nuclear: Providing equipment for hot cells, process facilities, and decommissioning applications.

• Life Sciences: Offering automated manufacturing solutions for medical devices.

Financials and Funding

Funding History

PAR Systems was acquired by the Pohlad Companies, a privately held portfolio of businesses and investments, on November 1, 2017.

Recent Funding Rounds

Specific details regarding recent funding rounds are not publicly disclosed.

Notable Investors

The Pohlad Companies, led by the Pohlad family, are the primary investors in PAR Systems.

Utilization of Capital

The capital from the acquisition has been utilized to expand operations, enhance production capabilities, and support growth in automation technology across multiple industries, including aerospace, nuclear, and life sciences.

Pipeline Development

Key Pipeline Candidates

PAR Systems focuses on developing advanced automation solutions tailored to the specific needs of their clients in various industries. While specific pipeline candidates are not publicly detailed, the company's ongoing projects include:

• Aerospace: Developing advanced motion control systems and robotic solutions for aerospace manufacturing.

• Nuclear: Designing equipment for the safe handling and decommissioning of nuclear facilities.

• Life Sciences: Creating automated systems for the production of medical devices.

Stages of Development

PAR Systems engages in all stages of development, from pre-automation proof of concept studies to fully integrated automation systems and post-implementation service and support.

Target Conditions

The company targets complex and highly regulated environments where precision and safety are paramount, including aerospace manufacturing, nuclear facility operations, and medical device production.

Anticipated Milestones

PAR Systems continues to innovate and deliver solutions that meet the evolving needs of their clients, with ongoing projects aimed at enhancing manufacturing processes and safety standards across various industries.

Technological Platform and Innovation

Proprietary Technologies

• CIMROC® Robot Controller: Provides high accuracy and continuous path control for up to nine servo axes, along with adaptive control to meet demanding requirements.

Significant Scientific Methods

• Friction Stir Welding: A solid-state joining process used in aerospace and defense applications to create strong, lightweight joints.

• Advanced Motion Control: Utilized in robotic systems for precise material handling and assembly tasks.

Leadership Team

Executive Profiles

• Karla Leis: President and CEO. With over 25 years of experience in strategy, product management, international marketing, sales, and general management, Karla leads PAR Systems with a focus on collaboration, energy, and resiliency. She holds an MBA from the University of Minnesota Carlson School of Management.

• Pete Dankwerth: CFO and Chief Quality and Risk Officer. Pete oversees Finance, Accounting, Information Systems, Quality, EHS, and Facilities teams. He joined PAR in November 2021 from Sodexo and has held various leadership roles in finance and operations. He holds a bachelor's degree in mechanical engineering from the University of Wisconsin – Madison and an MBA from Northwestern University.

• Rachel Resnick: SVP, Human Resources. Rachel leads the people organization, focusing on talent initiatives to ensure employees can do their best work. She has extensive experience in human resources and organizational development.

• Peter Donnelly: VP, Critical Handling Solutions Operations. Peter is responsible for project management, manufacturing, and service for PAR’s Critical Handling Solutions, ensuring seamless execution and quality. He has been with PAR since 2002 and has held various roles in operations and project management.

• Donna Turner: VP, Automation Operations. Donna leads a team responsible for supply chain, manufacturing, field services, logistics, facilities, and EHS. She joined PAR in 2022 with over 20 years of manufacturing and field service operations leadership experience.

• Dina Khaled: VP, General Counsel. Dina is a strategic business partner with expertise in intellectual property law and a proven track record from roles at Honeywell Aerospace, Resideo, and Northrop Grumman. She holds a JD from the University of Michigan and degrees in electrical engineering from the University of Michigan-Dearborn.

• Tracy Sherk: Director of Strategic Marketing and Communications. Tracy leads a dedicated team with expertise spanning Automation and Critical Handling Solutions, focusing on delivering value and exceptional customer experiences. She has two decades of automation experience across various leadership roles and holds a bachelor's degree in physics and an MBA.

Competitor Profile

Market Insights and Dynamics

The automation and robotics industry is experiencing significant growth, driven by advancements in technology and increasing demand for efficiency and precision across various sectors. Key trends include the integration of AI and machine learning into automation systems, the expansion of automation in emerging markets, and the development of collaborative robots designed to work alongside humans.

Competitor Analysis

• Genesis Automation: Specializes in industrial automation solutions, offering a range of services from design to implementation.

• Capital Industries: Provides material handling equipment and automation solutions for various industries.

• Abacus Automation: Focuses on automation systems and robotic solutions for manufacturing processes.

Strategic Collaborations and Partnerships

PAR Systems has formed strategic partnerships to enhance its capabilities and market reach, including:

• Acquisition of Ederer LLC: Integrated Ederer’s 100 years of specialty crane design and manufacturing experience with PAR’s remote handling and robotics experience.

• Acquisition of Jered LLC: Expanded platforms to offer military and naval material handling capabilities.

• Acquisition of OakRiver Technology: Increased depth of expertise in automated equipment platforms for medical device and small part assembly applications.

Operational Insights

Strategic Considerations

PAR Systems maintains a strong market position through its focus on innovation, quality, and customer-centric solutions. The company's