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New York | September 2011
NEW YORK, N.Y. – September 15, 2011 – Praesidian Capital, a leading provider of mezzanine capital for small and mid-sized businesses, announced today that it has successfully exited an investment in Solatube International, Inc., a premier developer, manufacturer and marketer of state-of-the-art high performance daylighting systems based in Vista, California.
In 2007, Praesidian provided mezzanine financing to help fund the Company’s growth plans. Solutube recently paid off the loan in full.
“We recognized Solatube as a company uniquely positioned to capitalize on the emerging sustainable design initiatives worldwide,” said Neil Marks, a Managing Partner at Praesidian. “We were pleased to partner with such an innovative company, and offer financing at an important time to fuel their growth plans. We continue to look for similarly strong investment opportunities going forward.”
Solatube International Inc., based in Vista, California (northern San Diego County), is the worldwide leading manufacturer and marketer of Tubular Daylighting Devices (TDDs) and is celebrating its 20th Anniversary in 2011. The Company’s flagship product, the Solatube® Daylighting System, provides a revolutionary natural lighting solution for all types of residential and commercial applications and is the only spec-grade TDD currently available on the market. The maxim “Innovation in Daylighting™” 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, visit www.solatube.com.
Praesidian Capital partners with small and mid-sized businesses by providing private debt capital. With a focus on its core competency in mezzanine financing, Praesidian invests in established, historically profitable companies often in connection with a management/leveraged buyout, recapitalization or refinancing. Based in New York City, Praesidian manages more than $700 million in committed capital. For more information, visit www.praesidian.com.
Contact: Rivian Bell
The Abernathy MacGregor Group
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