September 7, 2010

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Kinlin Grover GMAC Acquired by Randall Realtors GMAC

June 16, 2009 By Joseph P Egan Leave a Comment

OSTERVILLE, MA & CHARLESTOWN, RI - Kinlin Grover GMAC Real Estate has been sold to Randall Realtors GMAC Real Estate. Together, the two companies now have 18 offices and more than 400 sales associates and employees. The combined companies achieved more than $700 million in sales in 2008. Each firm will continue to operate under their current names. Financial terms of the deal were not disclosed.

Kinlin Grover’s 11 offices are located in: Barnstable, Brewster, Chatham, Falmouth, Harwich Port, Orleans, Osterville, Sandwich, South Yarmouth, Wellfleet, and Yarmouth Port.

Randall Realtors offices are located in Rhode Island and Connecticut. The five Rhode Island offices are in: Charlestown, North Kingston, Wakefield, Watch Hill and Westerly. The company’s Connecticut offices are in Mystic and Waterford. Randall Realtors was established in 1977 as H.D. Randall Realtors in Charlestown, Rhode Island.

Kinlin Grover was founded in 1992 and has grown to  include 11 real estate offices located throughout Cape Cod, MA. In addition to commercial real estate brokerage, second home sales, and property management services Kinlin Grover Vacation Rentals is the largest vacation rental firm on Cape Cod.

Filed Under: Small Business Mergers and Acquisitions Tagged With: ,

Cape Cod Manufacturer Acquired in $80 Million Deal

August 7, 2008 By Joseph P Egan Leave a Comment

Pocasset, MA - Hydroid, Inc. a manufacturer of Autonomous Underwater Vehicles (AUVs), announced today the company’s acquisition by Kongsberg Maritime. The sale was announced in December 2007 pending U.S. Government approvals.

Kongsberg Gruppen is headquartered in Kongsberg, Norway and is a technology group with over 4,400 employees in 25 countries. The company has two divisions, Kongsberg Defense and Aerospace, and Kongsberg Maritime of which Hydroid will join. Kongsberg Gruppen reported revenues of approximately $1.6 billion in 2007 and is listed on the Oslo Stock Exchange and traded under the ticker
KOG.

“The acquisition of Hydroid is within Kongsberg Maritime strategy to expand in the rapidly growing market for AUV-based operations through a broader portfolio of products, wider presence in the market and focused R&D efforts,” stated Rolf Arne Klepaker, Kongsberg Maritime Subsea Executive Vice President.

Hydroid was established in 2001 to manufacture, support and further develop the REMUS Autonomous Underwater Vehicle (AUV) technology, originally developed, and licensed from, the Woods Hole Oceanographic Institution. Located in Pocasset, Massachusetts, Hydroid offers a range of REMUS vehicles, including systems rated for 6,000 meter operations, and has delivered over 150 systems in the past seven years.

All the HUGIN vehicles and the REMUS vehicles can be customized for many applications which include: hydrographic surveys, mine counter measure operations, harbor security operations, environmental monitoring, debris field mapping, marine geological survey, inspection of underwater engineering structures and pipelines, search and salvage operations, fishery operations, and scientific sampling and
mapping.

In a separate press release issued by Axia Advisors, the Burlington MA based firm announced its advisory role in connection with the $80 million sale to Kongsberg Maritime. 

Chris von Alt, President and CEO of Hydroid, LLC, stated, “As a Kongsberg company, Hydroid will continue to improve the products and services we offer, so they will be of greater value to our customers. This strategic fit is very important to our shareholders, and we are grateful to Axia Advisors for their contributions to this remarkably successful outcome.”

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