Samsung Ventures joins Distech’s existing group of investors and founder, president, and CEO of Distech Controls, Étienne Veilleux, as shareholders.
Distech Controls said the new investment will expand its capital base and the proceeds of this financing will be used to accelerate the company’s growth and development plans, including acquisitions.
“As a company in the energy management solutions and green technology space, we feel that it is critical to bring together the right team internally as well as the right financial partners to help us best serve the needs of our customers and partners. We have definitely accomplished this goal, bringing together both the capital required to fuel our growth strategies as well as a fantastic group of investors that support mission-driven companies,” said Veilleux. “This positions us to accelerate our development globally and our continued investment in our unique products and solutions, as well as support our strategic plan, including acquisitions of complementary businesses, to take advantage of significant opportunities for Distech Controls in the marketplace.”
“Our investment in Distech Controls is consistent with our strategy to work closely with established market leaders,” said Michael Pachos, senior investment manager at Samsung Ventures. “Distech Controls is a technology leader and has built a significant business in energy management solutions and building controls. The company has demonstrated both a technical and business vision in driving the adoption of advanced controls and energy management solutions, and we look forward to contributing to the progress of Distech Controls.”
For more information, visit www.distech-controls.com.
Publication date: 5/27/2013