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Ecublens, Switzerland / Amsterdam, the Netherlands (ots) - Holland Private Equity ("HPE") invested substantial primary capital in Synova S.A. ("Synova") in a capital increase of up to CHF 20 million to become its largest outside shareholder. The expansion capital will allow Synova to further execute its internationalization, sales expansion and fuel further product development of its unique water-jet guided laser cutting technology.
Tim van Delden, Chief Investment Officer of HPE, commented: "Synova has built a great foundation to become a global market leader in laser based cutting and surface conditioning solutions. Their unique, patented technology and the market demand in multiple sectors provide an excellent basis to accelerate the future growth. At HPE we look forward to becoming an active part of the Synova success story. HPE has been monitoring Synova for more than two years and has been impressed with its unique water-jet guided laser technology. With the broadening of its management team 16 months ago, we are impressed what Synova has achieved commercially over the past 12 months."
Dr. Bernold Richerzhagen, German Founder, Chairman and CEO of Synova, added: "HPE has shown commitment and drive throughout the past few months and I am convinced that HPE will make valuable contributions with their experienced team and wide industry network to further expand the global reach of our technology. Synova today is at a natural inflexion point with the materialization of high volume commercial opportunities. The capital injection will enable the company to accelerate its commercial ramp-up and deliver on its promise of establishing the laser micro jet technology as a global industry machining standard.."
About Synova S.A.
Headquartered in Ecublens, Switzerland, since 1997, Synova SA, has been pioneering the Laser MicroJet technology by exploiting the synergy of laser power with water. The water-guided laser beam cuts/drills parallel and cleans kerfs/holes with virtually no heat impact. The technology enables unprecedented possibilities and allows for substantial reduction of total cost in various high- precision application fields. The company manufactures and commercializes industrial Laser Micro Jet machines and modules, which entail decisive benefits over conventional "dry laser" machines and other processes in the field of material machining.
Dr. Bernold Richerzhagen, Chief Executive Officer
Chemin de la Dent d'Oche
CH-1024 Ecublens, Switzerland