Spokane, Washington, July 17, 2007� Robotic Process Systems, Inc., a global supplier of selective solder equipment to the circuit board manufacturing and assembly industry has been acquired by an investor group led by GaitherCapital, a private equity firm based in the San Francisco Bay Area.
Going forward, Robotic Process Systems will operate under the name RPS Automation, LLC and will continue to develop, manufacture, and market its products and services globally. Jess Baker, a founder of Robotics Process Systems, will be President of RPS Automation and will be joined by an expanded management team.
�RPS is a pioneer in the field of selective soldering and they are committed to and respected for their innovation, integrity and customer service,� said Reed Gaither, Managing Director of GaitherCapital. �With their successful launch of the entry-level Rhythm� system, RPS is uniquely positioned as the only US-based manufacturer with a full line of selective soldering equipment. We are excited to begin work with the RPS team to meet the increased demand for these products in North America and internationally.�
In making the announcement, Jess Baker said �We are enthusiastic to be partnering with GaitherCapital and their investor group. I have been impressed with their management expertise, extensive network of relationships, and dedication to the long-term success of this business and our customers. We are looking forward to their contribution to the leadership of the business and to our continued pursuit of high quality production and innovative engineering.�
New management at RPS will include Reed Gaither as Chief Executive Officer, and Kari Novatney, a managing Director of GaitherCapital, as Chief Financial Officer.
About RPS Automation LLC � The company specializes in the design and manufacturing of selective soldering equipment for the global circuit board manufacturing and assembly market. RPS designs, engineers and manufactures the Opus�, Harmony�, and Rhythm� selective soldering systems and the proprietary Maestro� system control software in Spokane, Washington, USA. The company has a global network of sales representatives and distribution partners.