HCAP Partners led a follow-on investment round in LED lighting manufacturer Noribachi along with new investors including the Northwest Area Foundation. Tim Bubnack, managing partner at HCAP, will join Noribachi’s board.
HCAP Partners (formerly Huntington Capital), a California-based mezzanine debt and private equity firm, today announced that it has led a follow-on round of investment in Noribachi with participation from new investors including the Northwest Area Foundation.
Noribachi is a U.S.-based manufacturer of high-output commercial and industrial LED lighting solutions. The Company, founded by Silicon Valley entrepreneurs Farzad and Rhonda Dibachi, applies a Bespoke Engineered and Specifically Tailored (BEST) methodology to deliver custom engineered LED lighting products that are highly efficient, flexible, cost-effective, and energy saving. As a result of this custom engineering approach, Noribachi was named to the Inc. 500, Forbes List of America’s Most Promising Companies, Deloitte Technology Fast 500™ List, Los Angeles Business Journal’s 100 Fastest-Growing Private Companies List, and Entrepreneur Magazine’s Entrepreneur 360™.
In 2015, Noribachi reported 100% growth in revenues, and created over 70 new jobs in Los Angeles. The Company proudly hosted Los Angeles Mayor Eric Garcetti’s third State of the City Address on April 14th, 2016. A recording of the address and videos on Noribachi’s work can be accessed via the City of Los Angeles website http://lamayor.org/SOTC2016.
Farzad Dibachi, co-founder and CEO of Noribachi, stated, “We are pleased to be partnering with HCAP Partners. This investment helps Noribachi expand the manufacturing of our Bespoke Engineered and Specifically Tailored (BEST) LED lighting solutions to support our growing customer base and global sales channels with the highest quality LED products.”
Tim Bubnack, Managing Partner, and Hope Mago, Principal led the transaction for HCAP Partners. Tim Bubnack commented, “Since the time of our initial investment Noribachi has reported significant growth in revenues and has achieved sixteen consecutive periods of quarter-over-quarter revenue growth. Farzad and Rhonda have also added executive management with extensive experience in managing growth-oriented businesses and introduced next generation products including the Pulse wireless controller. The follow-on funding with participation from our Limited Partner Northwest Area Foundation will allow Noribachi to continue accelerating its growth in 2016 and beyond.”
Amy Jensen, Investment Director at Northwest Area Foundation stated, “Noribachi is significantly aligned with the values and vision of the Northwest Area Foundation. The company’s programs, including the provision of a broad-based wealth creation mechanism and partnership with the Los Angeles Conservation Corps to provide jobs to at-risk youth in Los Angeles, reflect the types of programs and activities the Foundation seeks to advance.”
As part of the investment Tim Bubnack will join the board of Noribachi.
U.S.-based Noribachi is a leading custom LED manufacturer for high output commercial and industrial solutions. Noribachi applies a Bespoke Engineered & Specifically Tailored (BEST) methodology to deliver unlimited LED lighting applications. Noribachi is dedicated to improving the lighting industry by incorporating design and technology to its BEST lighting solutions. For more information, visit http://www.noribachi.com.