Financing Will Be Used to Accelerate Company Growth and Development Roadmap Worldwide
Energy management solutions provider Distech Controls (DC) announced the addition of a new investor to its financing team.Samsung Ventures now joins the Caisse de dépôt et placement du Québec, Export Development Canada, EnerTech Capital, Fonds de solidarité FTQ and W2 Investments as a new shareholder of DC.The $38 million total investment will expand DC's capital base, with proceeds being used to accelerate the company's growth plan and development roadmap worldwide, including acquisitions, according to DC."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," said Étienne Veilleux, president and CEO of DC. "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.""Our investment in Distech Controls is consistent with our strategy to work closely with established market leaders." said Michael Pachos, senior investment manager for SV. "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."
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