Romax Technology Ltd, an engineering and simulation firm, says it has a new investment partnership with Moonray Investors, part of Fidelity International. Romax, founded by Peter Poon in 1989, will remain majority-owned by the founder. The investment will let the company accelerate development of its simulation technology and drivetrain-design businesses as well as pursue new and exciting technologies across the wind energy and transportation industries.
“I am delighted to have found a partner who shares our ethos, values and growth aspirations,” says Romax CEO Peter Poon. “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.”
Poon continued, “Our strong commitment to R&D and our passion for innovation and engineering excellence will not change. 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.”
Moonray COO Nicky McCabe 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.”
Romax Technology Ltd