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SPAIN - Diana Capital invests EUR 10.5m in Lumelco

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Diana Capital I, the private equity fund managed by Diana Capital, has acquired 23% of Lumelco, a distributor of air conditioning systems. The total value of the investment was EUR 10.5m. The funding will be used to help the expansion of the company in Spain.

The market for air conditioning in Spain is the second largest in Europe and Lumelco's turnover in 2005 reached EUR 60m with profits of around EUR 7m. It is the second largest independent player in the sector and supplies clients such as Endesa, Leroy Merlin and Carrefour.
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