Ciclad backs VitrineMedia OBO, Siparex exits

Previous backer Siparex sold its minority stake in the business to Ciclad, which also provided a capital increase. The GP invested via its €180m Ciclad 6 FPCI fund, which usually deploys tickets of €4-15m. The value of the investment remains undisclosed but is understood to be within that range.

LCL provided a senior debt package to finance the deal.

Ciclad will hold a minority stake in the business, while the management team will continue holding the majority of the shares.

Previous funding
Siparex injected €1m into VitrineMedia in 2013. The GP contributed to VitrineMedia's capital increase via the Siparex Proximité Innovation family of funds, which focus on smaller investment opportunities. The capital increase was handled by corporate finance firm Altrio.

The business planned to use the fresh capital to bolster its logistical infrastructure and its team, with a view to drive exports and target new markets.

Company
Established in 2007, VitrineMedia set out to adapt the back-lit signs usually found in bars to be used by real estate agencies for advertising. The company has since then been developing its LED-based technology to offer a range of products targeting several industries.

Saint-Denis-based VitrineMedia generates a €17m turnover – up from €3.5m at the time of Siparex's investment in 2013. It is now active in several countries across the world, including Spain, Canada and Japan.

People
Ciclad – Stéphane Billon (managing partner); Muriel Fabre (investor).

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