Foley Hoag Client HZO, Inc. Closes on $20 Million in Growth Capital
July 10, 2014
Foley Hoag advised HZO, Inc., an award-winning provider of next-generation liquid and corrosion protection technologies based in Salt Lake City, in its recent $20 million growth financing round.
HZO intends to deploy the new financing in continuing to execute its aggressive plans to provide liquid and corrosion protection solutions to OEMs across multiple industries, including consumer and industrial electronics, wearable technology, and medical and military devices. Said CEO Michael Bartholomeusz, “we are working with OEMs and their contract manufacturers across the globe to deploy our liquid, corrosion and moisture proofing solutions for their products. This growth capital raise gives us the ability to provide more world-class proximity design and support centers, decrease the time-to-market for new, innovative and transformative next-generation solutions and accelerate expansion of our global footprint with current and new customers.”
Foley Hoag partner David Broadwin and associates Patrick Connolly and Von Bryant advised HZO on the transaction. Iron Gate Capital led the financing, along with participation from new investors Translink Capital and Delta Electronics. They will join existing investors, including Harris & Harris Group, Prudence Capital Management and VY Capital, who also participated in the round.
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