XPND Capital said Friday it had sold its stake in Lumenpulse. Financial terms were not announced. Montreal-based Lumenpulse makes architectural LED-based lighting.
MONTREAL, QUEBEC–(Marketwired – June 26, 2015) – XPND Capital has announced the sale of its shares in Lumenpulse as part of an orderly transaction to institutional buyers.
“We received a lot of interest in our block of shares, which demonstrates the interest in an exceptional Quebec business. The time had come to return the fruits of our investment to our shareholders,” said Alexandre Taillefer, managing partner at XPND Capital.
A shareholder since 2011, XPND is proud to have supported François-Xavier Souvay, the President and CEO of Lumenpulse, and his team, throughout the accelerated growth and development of the company, which is today a world leader in the architectural LED lighting market.
“XPND’s mission is to support companies during their growth stage and to allow them to conserve their Canadian ownership once they’ve achieve a certain maturity. Lumenpulse has grown very quickly and we are proud to have accompanied them this far,” said Mr. Taillefer, who will remain on the Lumenpulse Board of Directors until the next annual shareholders meeting, which will be held in September.
This sale does not include shares held personally by several shareholders of XPND, including those held by Mr. Taillefer.
“We are convinced that Lumenpulse will have a great future. We now pass the torch to institutional investors, who play an important role in helping to conserve the ownership of our outstanding local businesses,” concluded Mr. Taillefer.
About XPND Capital
XPND Capital is a private equity firm focused on growth investments in exceptional Quebec-based companies. Its mission is to help build the next generation of large successful companies in Quebec, bringing strategic capital and expertise and collaborating with entrepreneurs in their growth phase. www.xpnd.com