SANTA ANA, Calif. & SALT LAKE CITY--(BUSINESS WIRE)--Axiom Materials, a global leader in advanced composites development and manufacturing, today announced the formation of a strategic business partnership and recapitalization with Sorenson Capital to drive the company’s evolution and growth.
The partnership, which includes a significant investment from Sorenson Capital and additional participation by Yukon Partners, is designed to help accelerate Axiom Materials’ growth through manufacturing improvements, key personnel additions, and R&D-driven innovation, further advancing the company’s technical leadership. It will also leverage Sorenson Capital’s strategic expertise and relationships in the company’s key target industries, from aerospace and defense to automotive, industrial and power generation.
“We are delighted to partner with Sorenson Capital and Yukon Partners to co-author the next major chapter in the Axiom Materials story,” said Johnny Lincoln, Ph.D., founder and president of Axiom Materials. “With the combined capabilities of Axiom, Sorenson Capital and Yukon Partners, the company’s future has never been brighter. We are now aligned and capitalized to accelerate our long-term strategic goals and ultimately reach our highest potential. It is an exciting time to be part of the Axiom team.”
“We are tremendous believers in Axiom Materials and its future,” said LeGrand Lewis, managing director of Sorenson Capital. “Johnny and his team have built an exceptional company that has been able to attract and develop some of the best talent in the industry, and to establish world-class technology, technical and manufacturing excellence, in addition to a culture of high integrity. We are excited to see what this phenomenal company will accomplish with this infusion of capital and an expanded network of professional relationships.”
Details regarding the amount and terms of the capital investment are proprietary and will not be disclosed.
About Sorenson Capital
Sorenson Capital (www.sorensoncapital.com) is a private equity firm that makes small to middle-market buyout and growth equity investments. Sorenson Capital has more than $1 billion in capital under management and typically makes investments of $10 to $40 million in companies with unique strategic positions. Sorenson Capital is managed and controlled by West Rim Capital and is based in Salt Lake City, Utah.
