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Praesidian Capital to Fund Growth of
Global Leader in Daylighting Systems
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 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 www.solatube.com or call
888-SOLATUBE (888-765-2882).
Source: Praesidian Capital
Investors
CONTACT: Dan Jacobs of
Broadgate Consultants LLC, +1-212-232-2227, for
Praesidian Capital Investors
Web site:
http://www.praesidian.com/
http://www.solatube.com/
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