Romax
Technology Limited (Romax), the market-leading engineering solutions and
simulation technology company, has today announced
a new investment partnership with Moonray Investors (Moonray), part of Fidelity
International (FIL Limited).
Romax,
which was founded by Peter Poon in 1989, will remain majority-owned by the
founder. Moonray’s investment will allow the company to accelerate the
development of both its highly successful simulation technology and drivetrain
design businesses as well as pursue new and exciting technologies across the
wind energy and transportation industries.
Commenting on the
partnership, Peter Poon, founder and CEO of Romax said, “I am delighted to have
found a partner who shares our ethos, values and growth aspirations. Romax will
undoubtedly have synergies with Moonray’s recent investments in energy
efficiency technologies. Moonray will bring extensive business experience from
outside our core market, in addition to growth capital. Their long-term
perspective makes Moonray a true partner in our business.”
Peter Poon continued, “Our
strong commitment to R&D and our passion for innovation and engineering
excellence will not change. Now, with better resources we are able to enhance
the value we deliver to our customers as well as accelerate the development of
our exciting portfolio of new products and services, especially those focussed
on wind-farm operators and owners.”
Nicky
McCabe, COO of Moonray added “Right from the outset we were impressed by the
cutting edge technology and high quality engineering focus of Romax. We look forward to playing our part in
working with Romax to achieve its clear and significant potential.”