Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Philadelphia-Based Firm Buys Redzone Robotics

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Philadelphia-Based Firm Buys Redzone Robotics

Article excerpt

One of Pittsburgh's earliest robotics companies has been acquired by a Philadelphia-based private equity firm.

Milestone Partners announced last week that it would buy RedZone Robotics, which uses a combination of hardware and software to create solutions for municipal wastewater facilities.

On Tuesday, Monroe Capital, a Chicago-based asset management firm, said it facilitated the transaction by funding a $21 million senior credit facility - essentially a corporate loan. Specific details of the acquisition, like the total purchase price, were not provided.

It is unclear if the acquisition will impact the location or staff of the Lawrenceville-based robotics firm.

Representatives from RedZone and Milestone did not return requests for comment. …

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