Solatube International Poised For Worldwide Expansion
NEW YORK, Aug. 7 /PRNewswire/ -- Praesidian Capital Investors, a
provider of mezzanine debt to middle market companies, has provided
mezzanine capital to help fund the growth plans for Solatube International,
Inc.
Headquartered in Vista, CA, Solatube is the premier developer,
manufacturer and marketer of state-of-the-art high performance daylighting
systems for use in a wide range of residential, commercial, institutional
and industrial buildings. The Company uses a patented advanced optics
technology to significantly improve the way daylight is captured,
transferred and delivered into buildings, allowing natural lighting to be
introduced where historically it has not been an option. The Company's
leak-proof design, superior performance and ease of installation have
earned acceptance and praise from builders, architects, the media and
end-users, both domestically and internationally.
"Already at the top of their industry and with a skilled management
team led by Chief Executive Officer David Rillie, Solatube has a bright
future," said Neil Marks, Managing Partner at Praesidian. "Because of their
energy saving attributes, Solatube's products are ideally positioned to
capitalize on the emerging sustainable design initiatives worldwide."
The company was recently awarded a contract to install its daylighting
systems in one of the Olympic buildings being constructed in Beijing,
exemplifying the company's large-scale expansion into the international
market.
"The capital infusion will provide a stable, long-term element to our
capital structure to facilitate our future growth plan," said CEO David
Rillie. "The knowledgeable group of investors at Praesidian and their
commitment to collaborate with our team makes them a perfect partner."
Since its inception in February 2005, Praesidian Capital has
established a strategy of partnering with both strong equity investors and
talented management teams. The Firm has invested in sixteen separate
companies and has completed seven add-on investments in existing portfolio
companies.
About Praesidian
Praesidian provides mezzanine debt to middle-market companies. The firm
provides capital for established, historically profitable companies,
helping successful businesses which require capital for buyout,
recapitalization, refinancing and growth. The team is made up of a unique
group of creative, responsive professionals with backgrounds in mezzanine,
senior debt and private equity investing as well as operations, corporate
finance and mergers and acquisitions. Praesidian's executives have overseen
successful exits for over 80 deals in the past 20 years and have been
involved in all aspects of the deal life-cycle. For more information, visit
http://www.praesidian.com.
About Solatube International, Inc.
Solatube International Inc., based in Vista, Calif. (northern San Diego
County), is the worldwide leading manufacturer and marketer of Tubular
Daylighting Devices (TDDs). The company's flagship product, the Solatube
Daylighting System, provides a revolutionary natural lighting solution for
all types of residential and commercial applications. The maxim "Innovation
in Daylighting(TM)" reflects the company's commitment to the development of
breakthrough daylighting technologies, which has resulted in numerous
patents dating back to the mid-1980s. Widely recognized as the industry
innovator, Solatube International has earned acclaim around the globe for
its unrivaled ability to transform interior spaces with the power of
daylight. For more information on the Solatube Daylighting System or other
products manufactured and marketed by Solatube International, including
solar-powered attic ventilation fans, please visit the Solatube website at
http://www.solatube.com or call 888-SOLATUBE (888-765-2882).
SOURCE Praesidian Capital Investors
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Related links:
http://www.praesidian.com
http://www.solatube.com
CONTACT:
Dan Jacobs of Broadgate Consultants LLC,
+1-212-232-2227, for Praesidian Capital Investors
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