AeroVironment acquired Telerob Gesellschaft für Fernhantierungstechnik mbH for Approximately $45.4 million (€37.5 million), a transaction completed in May 2021, structured as All cash: ~$45.4 million (€37.5 million) plus pay-off of ~$9.4 million (€7.8 million) of Telerob debt at closing, with an earn-out of up to ~$7.3 million (€6 million) over three years tied to milestones.
Telerob Gesellschaft für Fernhantierungstechnik mbH operates in Unmanned ground vehicles (UGV) / EOD robotics, is based in Ostfildern (near Stuttgart), Germany; U.S. office in Erie, Pennsylvania; customers across 45 countries. AeroVironment acquired Telerob, a German provider of unmanned ground robotic solutions based in Ostfildern near Stuttgart, with a U.S. office in Erie, Pennsylvania. Founded in 1994, Telerob makes the telemax and tEODor EVO families of unmanned ground vehicles plus fully equipped transport vehicles and training, repair and support services used for explosive ordnance disposal (EOD), hazardous-materials handling and CBRN threat assessment. AeroVironment paid approximately $45.4 million (€37.5 million) in cash and paid off about $9.4 million of Telerob debt at closing, with an earn-out of up to about $7.3 million over three years. The company later paid ~$46.2 million net of cash acquired.
Telerob added unmanned ground vehicles to AeroVironment's air-domain portfolio, advancing its goal of an integrated multi-domain robotic offering across air, ground, near-space and maritime, and extended its geographic footprint (Telerob's 45-nation customer base plus AeroVironment's presence in ~50 allied nations).
A profitable, fast-growing UGV specialist with a broad international EOD/CBRN customer base and a joint AeroVironment-Telerob bid for a multi-year U.S. Air Force EOD robotic-system program. Unmanned ground vehicle (UGV) offering; Telerob operated as a wholly owned subsidiary AeroVironment paid approximately €37.5 million (~$46.2 million net of cash) at the May 3, 2021 close; the first-year earn-out revenue target was subsequently achieved.
Acquiring Telerob marks a significant step toward achieving AeroVironment's goal of offering an integrated portfolio of intelligent, multi-domain robotic solutions in response to evolving threat environments and customer requirements for more effective, rapid and cost-effective capabilities.Wahid Nawabi, President and CEO, AeroVironment
AeroVironment is a leader in unmanned systems, with a compelling vision for integrated robotic solutions that Telerob can help to achieve. We are excited to become part of the AeroVironment team.Norbert Gebbeken, Managing Director, Telerob
Advisory firms were not disclosed for this transaction.