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New York | August 2007
Solatube International Poised for Worldwide Expansion
Praesidian Capital, a provider of mezzanine debt to middle market companies, has provided mezzanine capital to help fund the growth plans for Solatube International, Inc.
Headquartered in Vista, CA, Solatube is the premier developer, manufacturer and marketer of state-of-the-art high performance daylighting systems for use in a wide range of residential, commercial, institutional and industrial buildings. The Company uses a patented advanced optics technology to significantly improve the way daylight is captured, transferred and delivered into buildings, allowing natural lighting to be introduced where historically it has not been an option. The Company's leak-proof design, superior performance and ease of installation have earned acceptance and praise from builders, architects, the media and end-users, both domestically and internationally.
"Already at the top of their industry and with a skilled management team led by Chief Executive Officer David Rillie, Solatube has a bright future," said Neil Marks, Managing Partner at Praesidian. "Because of their energy saving attributes, Solatube's products are ideally positioned to capitalize on the emerging sustainable design initiatives worldwide."
The company was recently awarded a contract to install its daylighting systems in one of the Olympic buildings being constructed in Beijing, exemplifying the company's large-scale expansion into the international market.
"The capital infusion will provide a stable, long-term element to our capital structure to facilitate our future growth plan," said CEO David Rillie. "The knowledgeable group of investors at Praesidian and their commitment to collaborate with our team makes them a perfect partner."
Since its inception in February 2005, Praesidian Capital has established a strategy of partnering with both strong equity investors and talented management teams. The Firm has invested in sixteen separate companies and has completed seven add-on investments in existing portfolio companies.
About Praesidian Capital
Praesidian provides mezzanine debt to middle-market companies. The firm provides capital for established, historically profitable companies, helping successful businesses which require capital for buyout, recapitalization, refinancing and growth. The team is made up of a unique group of creative, responsive professionals with backgrounds in mezzanine, senior debt and private equity investing as well as operations, corporate finance and mergers and acquisitions. Praesidian's executives have overseen successful exits for over 80 deals in the past 20 years and have been involved in all aspects of the deal life-cycle. For more information, visit www.praesidian.com
About Solatube International, Inc.
Solatube International Inc., based in Vista, Calif. (northern San Diego County), is the worldwide leading manufacturer and marketer of Tubular Daylighting Devices (TDDs). The company's flagship product, the Solatube Daylighting System, provides a revolutionary natural lighting solution for all types of residential and commercial applications. The maxim "Innovation in DaylightingTM" reflects the company's commitment to the development of breakthrough daylighting technologies, which has resulted in numerous patents dating back to the mid-1980s. Widely recognized as the industry innovator, Solatube International has earned acclaim around the globe for its unrivaled ability to transform interior spaces with the power of daylight. For more information on the Solatube Daylighting System or other products manufactured and marketed by Solatube International, including solar-powered attic ventilation fans, please visit the Solatube website at www.solatube.com or call 888-SOLATUBE (888-765-2882).
Media Contact: Dan Jacobs
Broadgate Consultants, LLC
Phone: 212 232 2227
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