M&A Deal Summary

Kongsberg Gruppen Acquires Hydroid

On September 16, 2008, Kongsberg Gruppen acquired marine company Hydroid from Axia Partners for 80M USD

Acquisition Highlights
  • This is Kongsberg Gruppen’s 1st transaction in the Marine sector.
  • This is Kongsberg Gruppen’s 2nd largest (disclosed) transaction.
  • This is Kongsberg Gruppen’s 1st transaction in the United States.
  • This is Kongsberg Gruppen’s 1st transaction in Massachusetts.
Investment Fate
  • Hydroid was divested to a consortium of strategic buyers in 2020 for 350M USD.

M&A Deal Summary
Date 2008-09-16
Target Hydroid
Sector Marine
Buyer(s) Kongsberg Gruppen
Sellers(s) Axia Partners
Deal Type Add-on Acquisition
Deal Value 80M USD

Target

Hydroid

Pocasset, Massachusetts, United States
Hydroid is a manufacturer and supplier of autonomous underwater vehicles (AUV) for military and commercial markets worldwide. Its REMUS line of unmanned underwater vehicles (UUV) has provided deployable solutions for use in defense, marine research and commercial applications. Hydroid specializes in UUV design, engineering, production and support.

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Buyer(S) 1

Buyer

Kongsberg Gruppen

Kongsberg, Texas, Norway
Category Company
Founded 1814
Sector Technology Hardware
Employees13,898
Revenue 40.6B NOK (2023)
DESCRIPTION

Kongsberg Gruppen is an international technology corporation that delivers advanced and reliable solutions that improve safety, security and performance in complex operations and during extreme conditions. Kongsberg was founded in 1814 and is based in Kongsberg, Norway.

DEAL STATS #
Overall 1 of 2
Sector (Marine) 1 of 2
Type (Add-on Acquisition) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 1 of 1
Year (2008) 1 of 1
Size (of disclosed) 2 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-06 Rolls Royce Holdings - Commercial Marine Business

London, United Kingdom

Rolls Royce Holdings plc - Commercial Marine Business includes propulsion, deck machinery, automation and control, a service network spanning more than 30 countries and ship design capability, which to date has seen around 1,000 ships of Rolls-Royce design delivered to offshore, cargo, passenger and fishing vessel customers worldwide.

Buy £500M

Seller(S) 1

SELLER

Axia Partners

Boston, Massachusetts, United States

Investor Investor

Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

Axia Capital is a private equity investment and advisory firm. Axia Capital looks to invest in under-appreciated technology assets generating revenues of $3 to $50 million. Specific areas of interest include industrial and laboratory automation, robotics and controls; enterprise software and services; sensors and instrumentation; and industrial capital equipment. Targeted transactions include acquisitions of non-core divestitures, recapitalizations, and situations requiring growth capital. Axia Capital looks to $1 to $ 5 million per transaction. Axia Capital was formed in 2003 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 1 of 4
Sector (Marine) 1 of 1
Type (Add-on Acquisition) 1 of 4
State (Massachusetts) 1 of 3
Country (United States) 1 of 4
Year (2008) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-05 Segue Manufacturing Services

North Billerica, Massachusetts, United States

Segue Manufacturing Services provides high-value, cost-effective manufacturing solutions for highly engineered products for military, solar, medical, semiconductor and industrial capital equipment. Segue Manufacturing Services was founded in 1991 and is based in North Billerica, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-04 Innovative Pressure Technologies

Erie, Pennsylvania, United States

Innovative Pressure Technologies (IPT) is a designer and manufacturer high precision, highly reliable industrial valves and fluid control devices and components for OEM and end-user applications. Innovative Pressure Technologies is based in Erie, Pennsylvania.

Sell -
Mergr

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