Miura Private Equity launches its third fund, Miura Fund III, by investing in EfectoLed, Europe’s leading online distributor of LED technical and residential lighting, as well as in IWatMotion, a leading player of sustainable mobility. The founders of EfectoLed will continue to be shareholders together with Miura in this new stage.
The Group currently employs more than 220 professionals and expects sales over €60m in 2018 (20% more than in 2017). The company has more than 500,000 customers, including both B2B and B2C clients. EfectoLed has consolidated its leading position within the European market thanks to its wide range of specialised products, excellent customer service and guaranteed delivery within 24 to 48 hours all over Europe.
The online LED lighting sector has grown by more than 50% annually in recent years and is expected to keep growing at c. 30% annually driven by LED technology’s higher efficiency compared to other technologies, and the sector’s growing online presence. The company commercialises, bypassing traditional distributors, technical and residential lighting solutions using LED technology, ranging from domestic to industrial lighting, as well as all sorts of electrical components.
The entry of Miura will accelerate EfectoLed’s internationalisation plan and reaffirm its European leadership. EfectoLed is currently the market leader in Spain, France, Italy and Portugal, and it plans to reinforce its presence in the United Kingdom, Germany, Poland, the Netherlands and the Nordic countries. EfectoLed‘s growth strategy envisages strengthening its position in the professional channel (installers) by expanding its range of products and services.
The investment includes IWatMotion, a leading player of sustainable mobility, that commercialises electric scooters and bicycles and whose brand image includes the five-time motorcycling world champion Marc Márquez and Moto2 racer Alex Márquez. This market is expected to grow due to the increasing popularity of clean, sustainable and affordable means of transport in the main European cities. IWatMotion’s growth is based on product availability and constant innovation.
The deal has been financed by LGT European Capital. PWC and MA Abogados, have been the legal advisors.
About EfectoLed (www.efectoled.com)
EfectoLed is the leading online distributor of LED technical and residential lighting. The Group currently employs more than 220 professionals and sales over €60m in technical and residential lighting solutions using LED technology, ranging from domestic to industrial lighting, as well as all sorts of electrical components. The company guarantees delivery within 24 to 48 hours all over Europe to its more than 500,000 customers, including both B2B and B2C clients. The group is the market leader in Spain, France, Italy and Portugal, and expects to reinforce its presence in the United Kingdom, Germany, Poland, the Netherlands and the Nordic countries.
About Miura Private Equity (www.miuraequity.com)
Miura is a private equity firm based in Barcelona. It currently manages €700m worth of assets and specialises in investing in Spanish SMEs, with attractive growth and consolidation plans, and with a clear international vocation. Since 2008, Miura has invested in more than 34 companies, with operations worth more than €800m.
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