Viola Private Equity
Viola Private Equity Leads $25M investment in Aeronautics Ltd.
August 5, 2009, Herziliya Pituach, Israel – Viola Private Equity entered into a definitive agreement to invest $20 million in Aeronautics Ltd., a company specializing in the development and production of unmanned aerial vehicles (UAV), command and control systems, observation systems, and military electronics and communication systems. The remainder of the $25 million round (approximately $5 million) includes existing shareholders in the Company.
Upon the closing of the investment, Viola Private Equity partners, Osnat Ronen and Sami Totah, will join Aeronautics’ Board of Directors.
Viola Private Equity is a buyout and growth capital technology fund focusing on investments in established companies, in particular technology companies and other companies in a growth/expansion phase with international activity. Viola Private Equity is managed by four seasoned partners – Harel Beit-On, Osnat Ronen, Jonathan Kolber and Sami Totah.
Aeronautics develops, produces and markets unmanned aerial vehicles for government, military, and civilian customers around the world. The Company owns several affiliates which develop and produce a line of defense and security products, including communications solutions, sophisticated navigation tools and innovative intelligence systems. Aeronautics is a privately-held company founded 12 years ago by the Company's CEO Avi Leumi, and CTO Moshe Caspi who remain the Company's largest shareholders together with Aaron and Avi Shaked.
Osnat Ronen commented, “We were highly impressed by the Company’s entrepreneurial spirit, its technology and its execution skills. Avi Leumi and his team led the Company to impressive achievements and to a leading international position within a relatively short period, in a competitive and challenging landscape. We believe the Company has the ability and the tools to realize the exciting business opportunities that lie ahead. We believe that working together, Avi Leumi, Moshe Caspi, Aeronautics' employees, Viola Private Equity and the other shareholders, will drive the Company toward continued growth and substantial achievements in the future.”
Sami Totah added, “Israel enjoys meaningful competitive advantage in defense export. Aeronautics’ technology capabilities answer a global growing demand for reliable unmanned aerial vehicles and advanced security systems. Aeronautics, with some of the most innovative technology products, is among the top companies of its kind. We are glad to partner with Aeronautics, a spearhead in defense export.”
Aeronautics’ CEO Avi Leumi said, “We are happy Viola Private Equity will become a shareholder in Aeronautics and we welcome the appointment of Osnat Ronen and Sami Totah to our Board of Directors. We look forward to a successful and fruitful cooperation with Viola Private Equity and its partners.”
A military electronics company, one of Aeronautics' main areas of activity includes unmanned aerial vehicles (UAVs). Having started in a technology incubator supported by Israel's Office of the Chief Scientist, Aeronautics is now one of the largest companies in Israel's economy with hundreds of employees and eight subsidiaries in a variety of related areas. The Company specializes primarily in developing and manufacturing navigation, communication, propulsion, and optical systems and more. Annual sales reach approximately $150 million, to Israel and dozens of other countries.
The Company cooperates on extremely complex technology projects on behalf of Israel's security forces. Other clients include the most sophisticated militaries in the world such as those from the US, Canada, Italy as well as developing countries in Asia and Africa.
The Company's management expects continued growth in the next decade and aims to be the world leader in the area of UAVs. Aeronautics is based in Yavne, Israel.
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