GI Partners, a private investment firm has made a growth investment in Aras, a resilient platform provider for digital industrial applications. The investment is expected to accelerate Aras’ low-code platform innovation, global expansion, and customer success. Enterprises like Microsoft, Honda, and Airbus use Aras to digitalize mission critical processes and replace legacy systems faster.
“We believe the pace of digital transformation in manufacturing is just beginning to increase, and that Aras is uniquely positioned to deliver the next generation of platform-based applications for global companies. We are excited to partner with Peter and the management team to help further extend their cloud technology leadership, world-class support, and operations as the business scales,” said Travis Pearson, managing director and co-Head of private equity at GI. “Our vision is to grow the company through investment in internal processes and innovation, both organic R&D and acquisitions.”
“As hardware and software processes merge across the lifecycle, an industrial low-code platform with open interoperability is critical to layer over, rationalize, and replace legacy systems faster, creating a single, end-to-end digital thread foundation to enable artificial intelligence and machine learning analysis and optimization,” said Peter Schroer, founder and CEO of Aras. “We are transforming the way the world makes products by reinventing software for engineering and manufacturing to empower our customers with the flexibility to adapt quickly to tomorrow’s most strategic challenges.”
“The Aras team has developed a truly differentiated low-code platform powerful enough for the most complex scenarios in industry. We see significant opportunity for large companies to fast-track their enterprise SaaS migration with Aras and achieve step-function results,” added Sendil Rajendran, director at GI.
Goldman Sachs & Co. LLC served as exclusive financial advisor to Aras and Cravath, Swaine & Moore LLP served as outside counsel. Evercore served as exclusive financial advisor and Ropes & Gray LLP served as legal advisor to GI Partners.