QIA completed the acquisition of a minority stake in AIT from Onex.

Qatar Investment Authority, a sovereign wealth fund, completed the acquisition of a minority stake in Advanced Integration Technology, a manufacturer of automated tooling and equipment intended for the global aerospace, defense and space launch vehicle industries, from Onex, an investment company. Financial terms were not disclosed. “QIA is among the world’s most sophisticated investors. We’ve been deliberate in our choice of partner and are excited for this next chapter in our history. AIT is emerging from the pandemic with the highest quality contracted backlog in its history. Our ability to attract high quality investors is testament to the critical role automation technology is playing in restoring factory production rates, easing cost pressures and enabling industry product launches after a two-year pandemic disruption," Ed Chalupa, AIT Founder, Chairman and CEO.