Ludgate invests in Micropelt

Mitsubishi UJF Capital co-invested alongside existing shareholders.

The investment was made through the Ludgate Environmental Fund vehicle, which launched in 2007 and currently has assets of approximately £39m under management.

Previous funding
In 2006, a consortium led by SHS Gesellschaft für Beteiligungsmanagement made an investment estimated to be in excess of €25m in Micropelt. Other investors in the consortium included KfW Mittelstandsbank, Landesbank Baden-Württemberg and the MBG Mittelständische Beteiligungsgesellschaft Baden-Württemberg.

Company
Based in Freiburg and Halle, Micropelt produces and markets thermal energy harvesting chips. The company's products use waste heat to generate electricity. Micropelt partners with global semiconductor and system integrator companies.

The company opened its first production facility in June 2011 and employs 23 members of staff.

People
Bill Weil is chief investment officer at Ludgate Environmental and led the transaction. John Shakeshaft is the manager of Ludgate Environmental Fund.

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• Topics
• DACH
• Industrials
• Expansion
• Germany
• Ludgate Investments Ltd