Axia Capital Partners leads Buy-out of BuTech Pressure Systems’ Machining Business to form Innovative Pressure Technologies, LLC
January 1, 2006
For Immediate Release
Burlington, MA., Axia Partners today announced that it led a $1,000,000 buy-out, along with management, of the BuTech Pressures Systems machining business of Haskel International, a division of United Technologies Corporation and formed a new company, Innovative Pressure Technologies, LLC (IPT).
IPT is a leader in the design, manufacture and marketing of industrial valves and related flow devices. Utilizing proprietary manufacturing techniques from its over 300 collective man years’ experience, its products provide highly reliable and accurate flow control devices and components for a number of industrial markets and applications. IPT has achieved a leading position in the industrial pressure valve markets, primarily by focusing on providing complete value added solutions to its customers on a cost-effective basis. These valve products are sold to a broad range of customers for a variety of applications in diverse end markets, such as oil and gas exploration equipment, process control, power generation and fluid power.
“Axia is excited about working with a re-energized management team to leverage the 300 plus years of experience and significantly grow the company to a different level” stated Peter A. Hunter, Managing Director of Axia Partners. “We expect to significantly increase revenues over the next several years and we already have the building blocks to grow upon.”
“We are pleased to be partnering with Axia Partners”, commented Jeff Shuman, President of IPT. “Axia’s general partners participation to date has been instrumental in completing this buy-out and we have great confidence that they will add significant value to IPT.”
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 Innovative Pressure Technologies, LLC (IPT)
IPT (www.inpressure.com) designs and manufacturer high precision, highly reliable industrial valves and fluid control devices and components for OEM and end-user applications.
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