Summary: Schilling Robotics, a rapidly growing producer of remotely operated vehicles (ROVs) for underwater use, adds experienced investment, as well as oil and gas industry experience, to its board of directors.
Employee-owned Schilling Robotics designs and manufactures equipment for underwater environments, mostly for use in offshore oil drilling and exploration, including remotely operated vehicles (ROVs), tether management systems, remote manipulator systems, and modular control systems.
Schilling is the second largest independent manufacturer of ROVs in the world (behind the UK’s Perry Slingsby Systems Inc.) and its highly regarded deep-sea robotic manipulators are the standard for the deep sea exploration industry (over 200 in service).
The company, which employs over 300 and has offices in Davis, CA; Houston, TX; and Aberdeen, Scotland, is expanding rapidly, hiring over 100 people within the last year including Philip Otto as President and CEO (April 2008) and John Kehoe as CFO (June 2008), as well as new finance, operations, customer service and HR VPs. Otto, who has held senior level positions at a number of high-growth technology companies including Optical Communication Products (Nasdaq: OCPI) and California Microwave Inc. (Nasdaq: CMIC), will oversee the company’s rapid growth (a 40% rate). Schilling Robotics expects $100M in 2008, up from $90M in 2007 and $58M in 2006.
The addition of Hobart Birmingham and Taft Symonds adds both investment, as well as oil and gas experience, to Schilling’s board. Birmingham is currently a managing director of The Perreault Birmingham Group LLC, a consulting and investment banking firm servicing high-technology companies. Symonds is chairman of the board at private investment firm Symonds Trust Co. Ltd. He also serves as a director at Plains All American GP LLC, an oil and gas company and at Howard Supply LLC, an oilfield supply firm.