Axia Capital Partners leads Buy-out of FiberOptic Components, Inc.
February 17, 2006
For Immediate Release
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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