Bluewater is pleased to announce the completion of its exit from AXESS Networks.
The sale of AXESS marks another successful exit by Bluewater from one of its portfolio businesses, and is also the first sale of a company in its Fund II (two).
Bluewater 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.
Bluewater has rapidly grown the Satellite Communications company in its 2.5 years of ownership. 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: “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”