Distech Controls Welcomes Shareholder Samsung Ventures

May 22, 2013
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."

Sponsored Recommendations

High Sensitivity Accelerometers to Monitor Traffic and Railroad Vibration for Semiconductor Manufacturing

This paper examines highly sensitive piezoelectric sensors for precise vibration measurement which is critical in semiconductor production to prevent quality and yield issues....

Simulation for Automation Guide

How digital twin solutions are expanding the capabilities of plant engineers.

Enhancing HMI Security and Accessibility with Cloud VPN Solutions

Enhance HMI security and remote access with Beijer’s cloud VPN solution. Enjoy advanced encryption, easy setup, and secure access via laptops, smartphones, or tablets. Cut costs...

Motor Encoders: What They Are and How They Work

Motor encoders are rotary encoders adapted to provide information about an electric motor shaft's speed and/or position. Like rotary encoders, motor encoders are most commonly...