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Burlington,
MA., Axia Partners today announced that it has closed a growth capital
investment in Hydroid, LLC (www.hydroidinc.com).
Hydroid
designs, develops and manufactures autonomous underwater vehicles (AUV) for a
variety of military/government and commercial applications including mine
counter measures, environmental monitoring and hydrographic surveys. Hydroid’s
initial vehicle, REMUS 100, is one of the most
successful AUVs in the market today with over 80 vehicles being deployed around
the world and thousands of successful missions. Hydroid has increased its
product breadth with the addition of the REMUS 600, 3000, and 6000.
These larger vehicles enable Hydroid to significantly increase the depths and
length of the missions for a number of military/government and commercial
applications.
“Axia
is pleased to join such an impressive, high energy team as Hydroid and we are
looking forward to a long, mutually rewarding relationship” stated Peter A.
Hunter, Managing Director of Axia Partners who has also joined the Hydroid Board
as Chairman. “The Hydroid team is made up of many leading AUV and undersea
technology professionals in the world and we are privileged to be working with
them in growing the company”.
“We are
pleased to be partnering with Axia Partners”, commented Chris von Ault CEO of
Hydroid. “Axia’s general partners have a wealth of operating experience in the
robotics and controls marketplace, and we believe their active involvement in
Hydroid will significantly increase the value of the company”.
About Axia Partners
Axia Partners (www.axia-partners.com)
is a private equity investment and advisory firm that is dedicated to increasing
the equity value of our portfolio companies and clients through active
participation that leverages the operational experience and in-depth market
knowledge of our General Partners.
About Hydroid
Hydroid,
LLC
(www.hydroidinc.com) Hydroid is a leading manufacturer autonomous
underwater vehicles and related undersea robotic instrumentation, sensors for
military/government and commercial use.
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