— Bubnikovich to Drive Creation of a Leading Global Automation Solutions Platform —
— Darryl King Appointed President of JMP Solutions —
NEW YORK and LONDON, ON, Jan. 31, 2022 /PRNewswire/ — Crestview Partners (“Crestview”), a leading private equity firm, announced today that John Bubnikovich has been appointed Chief Executive Officer and a member of the Board of Directors of Crestview portfolio company JMP Solutions’ (“JMP”) newly-created parent company, effective February 1st. Mr. Bubnikovich was appointed by the parent company’s Board of Directors and will work closely with Executive Chairman Mike DuBose and the Crestview team to create a global automation solutions provider. A branding exercise for this enterprise is under way, and its name is expected to be announced shortly.
Crestview acquired JMP, an Ontario-based automation systems integrator, in August 2021 as the first step in its strategy to invest $200 million of equity to build a market leading global automation solutions provider. This automation platform will focus on the $70 billion global systems integration and connectivity segments, a subset of the global $500+ billion automation market. This investment strategy builds on Crestview’s prior experience in automation, having acquired JR Automation (“JR”) in 2015 before selling the company in 2019. In four years, Crestview helped JR become a leading global provider of intelligent automated manufacturing, production, and distribution technology by expanding the company from $170 million of sales and five production facilities in the U.S. to more than $600 million of sales and 23 facilities worldwide through organic growth and acquisitions.
Mr. Bubnikovich joins with extensive experience in the automation industry, having most recently served as the Chief Regional Officer of North America at Kuka Robotics. Previously, he served as the Vice President of Sales and Marketing at ABB Robotics, driving transformational growth in its robotics and applications portfolio in the United States. Mr. Bubnikovich has also served in a variety of commercial and business development leadership roles at BTM Company, a global leader in precision-engineered production equipment, and DE-STA-CO, a global automation solution provider with operations in the Americas, Europe, and Asia.
“The automation industry is poised to benefit from strong and durable secular tailwinds, including falling robot and technology costs, tightening global labor markets, and growing demand for quality, reliability, and resiliency in supply chains,” said Mr. Bubnikovich. “I am excited to be partnering with Executive Chairman Mike DuBose, the leadership team at JMP, and the experienced and capable investors at Crestview to develop an already strong portfolio of capabilities into a comprehensive and market-leading solution set with global reach.”
Mike DuBose, Executive Chairman of JMP’s parent company, who also served as Executive Chairman of JR Automation during Crestview’s ownership, said, “John is an industry veteran with a proven track record of success throughout his career. We are thrilled to have him as our CEO leading our long-term vision to build a leading global automation solutions provider. We look forward to continuing our acquisition efforts in North America, Europe and Asia in support of this strategy.”
JMP also announced the promotion of Darryl King to President of JMP Solutions, with Scott Shawyer transitioning to an advisory role and maintaining his position on the Board of Directors of JMP’s parent company.
Scott Shawyer said, “Darryl has been a valued member of our team for almost 20 years, and I am thrilled that he will be succeeding me as President of JMP Solutions. I look forward to continuing to work with Darryl, Mike, John and the Crestview team as we continue to build this exciting global automation solutions platform.”
About Crestview Partners
Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with approximately $10 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: industrials, media and financial services. For more information, please visit www.crestview.com.
About JMP Solutions
Founded in 1987, JMP is an automation systems integrator offering solutions to diverse industrial and consumer end markets. It designs, engineers and integrates hardware and software to automate its customers’ manufacturing, production and distribution facilities. Headquartered in London, Ontario, with an established North American footprint consisting of 15 office locations across the U.S. and Canada, the Company’s multi-geographic branch model provides it with a strategic advantage over smaller, sub-regional competitors, allowing it to provide targeted, local support while also growing with its blue-chip customer base across geographies and applications. For more information, please visit www.jmpsolutions.com.
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