AXESS receives financing to continue consolidating globally
August 20, 2020
AXESS Networks, established in 2019, resulting the merger of two leading companies in satellite communications: Axesat in Latin America and CETel in Europe.
Today, AXESS is a global player in the satellite communications industry, with operations in 50 countries on four continents, providing tailored managed end-to-end communications solutions to its corporate customers.
As a sign of confidence in the growth process of AXESS, the Spanish development finance company, COFIDES and the private debt fund ALANTRA, decided to grant AXESS a long-term financing of 36 million Euros recently.
With this large injection of funds, the company with corporate headquarters in Barcelona and large presences in Latin America and EMEA, further pursues its objectives to leverage its strengthening, growth and international expansion.
Through the increase of working capital, guaranteeing the funds to boost its operations and explore the acquisition of new companies that allow it to potentiate its value offer.
“We are very excited to receive this vote of confidence, which supports the strategy and vision of our company and will allow us to continue promoting growth and international expansion”, states Mauricio Segovia, CEO of AXESS Networks, following the announcement made by COFIDES and ALANTRA.
He further adds, “In times of uncertainty and risks due to the impacts of the pandemic caused by the Covid-19, it is even more relevant to receive the support and financing of organizations from the public and private sectors in support to the work being carried out by the company to its full potential”.
It is the first co-financed operation by COFIDES and ALANTRA, in which COFIDES invests through the FIEX fund, managed exclusively by the Secretary of State for Commerce, which aims to promote the internationalization of Spanish companies.