Axia Capital Partners makes growth
investment in Hydroid, LLC
December 23, 2005
For Immediate Release
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) is a leading manufacturer autonomous
underwater vehicles and related undersea robotic instrumentation, sensors for
military/government and commercial use.
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