Newfund backs Brazeco with €500,000

Newfund invests via its maiden fund, launched in 2008 and closed on €72m. Brazeco's founders remain majority shareholders following what constitutes the company's first round of institutional funding.

Brazeco expects the fresh capital to help drive its sales volume and keep up with its ongoing efforts to strengthen customer relations. The company is also planning to launch a new version of its website before the end of 2013.

Company
Launched in 2009, Brazeco produces and distributes logs made out of compressed recycled wood. Used by private customers for heating purposes, the logs are designed to be more efficient and environmentally-friendly as they don't require new trees to be cut down.

Currently catering to 2,500 clients, Brazeco expects to post a €1.5m turnover in 2013.

People
François Veron led the deal for Newfund.

Advisers
Equity – Romain Franzetti (Legal); RS Partners, Stéphane Hadida (Financial due diligence).
Company – Mazars, Sophie Meynier (Legal).

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• Topics
• France
• Expansion
• Consumer
• France
• Newfund Management