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Burlington,
MA., Axia Partners today announced that it led a $3.6 million buy-out of
FiberOptic Components, Inc. (FCI) and formed a new company, FiberOptic
Components, LLC.
The core
competency of the Company is drawing precision glass fibers and providing
value-added services by packaging glass, quartz and plastic fiberoptic
lightguides and assemblies in a variety of custom, typically non-coherent
configurations. FCI’s customer base integrates these fiberoptic components into
their products for such applications as photo-electric controls, optical
readers, scanners, robotics, microscope illumination, endoscopes and boroscopes
for industrial and medical applications. Orthopedic surgical applications
continue to be a major growth segment due to new minimally invasive surgical
techniques in knee, hip and spine surgery, and the growing number of baby
boomers requiring such surgical procedures. The Company’s success has been
primarily driven by its uncompromising quality and customer service to its OEM
customers around the world.
In
conjunction with the buy-out, one of the founding members of FCI, Bob Palo will
continue to be an integral part of the Company’s management team. The Company
also appointed, Tom Klein, an industry executive, as President.
“Axia
is looking forward to working with the management team and employees of
FiberOptic Components to take a very reputable and stable business and
significantly grow the company” stated Peter A. Hunter, Managing Director of
Axia Partners. “We have identified a number of industrial and medical markets
that can provide the Company with outstanding growth in the coming years.”
“We are
pleased to be partnering with Axia Partners”, commented Bob Palo. “Axia’s
general partners’ hand’s on knowledge of our business and the markets we serve
will undoubtedly add significant value to our 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
FiberOptic
Components, LLC
FiberOptic
Components designs and manufacturer high precision, highly reliable fiberoptic
light guides and accessories to OEMs in the industrial and medical markets.
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