TORONTO — Luxury lighting producer Eurofase Inc. has received a strategic investment from Beach Point Capital Management. Terms of the transaction, announced Dec. 4, were not disclosed.
The investment was made by Beach Point's private equity team on behalf of BPC Tactical Fund LP. The Bitton family, which founded Eurofase in 1989, retains a stake in the business along with CEO Tony Davidson, who will continue to lead the Toronto, Ontario-based decorative and architectural lighting company's growth strategy.
"We are thrilled to partner with Eurofase, the Bitton family and Tony Davidson, to build upon the company's decades-long reputation as a premier designer, supplier and manufacturer of thoughtfully designed lighting and heating products," said Evan Klebe, Beach Point managing director.
Davidson noted, "It has been a privilege to help lead the company's development over the past four years. Given our strong product and channel diversification and our market position as a product leader, I am excited about the growth opportunities for the company and confident in what our teams can deliver to our valued customers."
Michael Bitton of Eurofase, added, "We are so pleased to have partnered with Beach Point in this next chapter of our family business. The vast resources that Beach Point brings will undoubtedly augment our growth trajectory and allow us to continue to serve our customers with the highest quality and care."
Stifel served as exclusive financial advisor to Eurofase in connection with the transaction.
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