Private Equity company Bluewater can today announce that it has sold its interest in AXESS Networks (AXESS), having rapidly grown the business alongside its Chairman and management team in two and a half years of ownership.
AXESS delivers international satellite connectivity solutions to corporations across the globe, many of which are often in hard-to-reach places where traditional sources of connectivity such as fibre and broadband are not available.
The sale of AXESS marks another successful exit by Bluewater from one of its portfolio businesses. It is also the first sale of a company in its Fund II (two).
Bluewater has sold the business to Hispasat, which is owned by Red Electrica Group, a publicly traded company listed on the selected Spanish IBEX35 Stock Exchange Index. The sale is subject to customary regulatory closing conditions.
Since being acquired by Bluewater, AXESS has become an international and multiregional leader in Satellite Communications as a result of the successful implementation of a number of organic and inorganic growth strategies.
The company now has over 800 clients and 200 employees, operating across Europe, Middle East, and Latin America.
Bluewater says: “Bluewater acquired AXESS shortly before one of the most testing economic periods anyone has known, and we’re extremely proud of the way the company managed the upheaval of the pandemic to continue to deliver essential connectivity across the world.”
“In selling AXESS, we’re delighted to deliver real value to a strategic acquirer and a significant return to our investors in a successful exit.
“We would like to take this opportunity to thank the brilliant management team at AXESS for its hard work and for fostering a fantastic working relationship between the two companies.
“We will be paying close attention to the company’s progress, and we wish it, its people, and
the new owners all the very best for the future.”