Lucibel closed its €15 million (US $20.5 milllion) financing operation, started in March 2013, with an additional contribution of €9 million in bonds, convertible into shares, subscribed by Bpifrance, Aster Capital and CM CIC Capital Innovation.
Out of this financing operation that was finalised on 18th December 2013, Bpifrance, Aster Capital and CM CIC Capital Innovation will have invested €7 million, €3.5 million and €3 million respectively into the Lucibel, the balance of the funds being provided by other investors.
Reference shareholders in the company, Aster Capital and CM-CIC Capital Innovation confirm their will to stand by the company in the long run. Bpifrance came onto the scene with its long-term investment plan, focusing on accompanying growing French businesses and particularly those with high capital needs.
Lucibel offers innovative lighting solutions, based on LED technology, for professionals, municipalities and individual purposes. Founded in 2008 by Frédéric Granotier, the business has grown substantially, through organic development and external growth, such as Cordel company, leader in shop lighting, that Lucibel took over in March 2013. This market consolidation strategy in lighting will continue following new acquisitions coming soon.
This fundraising, which began in March 2013, will finance the development strategy within France and on international scene, within a rapidly expanding LED market.
"We are happy and proud to welcome Bpifrance amongst our financial partners, sign of recognition of Lucibel's technological expertise and its potential to develop, in France and globally." stated Frédéric Granotier, founder and president of Lucibel.
Nicolas Dufourcq, Chief Executive Officer of Bpifrance said "Bpifrance invests in French innovation on an international conquest. That's the spirit in which it has manifested its support to Lucibel."
Lucibel and Bpifrance have been advised for this operation by law firms Brandford Griffith & Associates and Veil Jourde.
