SAO PAULO, Oct. 25, 2017 /PRNewswire/ Korea IT Times-- Brilia, a pioneer in the development and distribution of LED (Light Emitting Diode) lighting products in Brazil, announces that it has just received a R$ 40 million equity investment from Cartesian Capital Group, LLC ("CCG"), a global private equity firm based in New York. The investment is the first tranche of a total R$80 million commitment and will help accelerate Brilia's expansion and increase market share.
Founded in 2009 by Vinicius Marchini and Leandro Neves, Brilia develops and markets LED lamps, integrated fixtures, strips and accessories, with a focus on product design, efficiency and sustainability. The company is present in more than 5,000 points of sale, with over R$ 220 million of annual revenue, and offers a complete set of LED lighting solutions for residential and commercial lighting.
According to Leonardo Arruda, Commercial Director, "To date, Brilia has grown 61% compared to 2016, due primarily to the commercial expansion started in the middle of last year, investment in a more horizontal distribution throughout Brazil and the launching of products that achieve and exceed consumer expectations."
According to Beth Michelson, Senior Managing Director of CCG and the Fund's representative on the Board of Directors of Brilia, "LEDs are revolutionizing the lighting industry due to their energy efficiency, versatility, superior color quality, and improving competitiveness. We are impressed with Brilia's world class management and the efficiency with which the founders and executives have built a market leader in LED lighting solutions in a relatively short period of time. We invested in Brilia to ensure that the company has sufficient capital to expand and believe the company can capitalize on CCG's global experience to reach its full potential."
According to industry estimates, by 2023, LED technology will represent 74% of all lighting sales in commercial and residential markets.
About Brilia
A pioneer in the development and distribution of LED lighting solutions in Brazil, Brilia believes that "Light Changes Everything" and provides solutions that put the transformational power of light in the hands of consumers. With more than 5,000 points of sale by Brazil, the company offers complete solutions for residential and commercial applications.
Brilia is headquartered in São Paulo and has a team dedicated to the design and development of LED products. The company has a modern logistics center in Itajaí, in addition to its own subsidiary in Asia, responsible for supply chain management and quality control. Considered one of the leading brands in the sector, Brilia has been the official lighting supplier of CASACOR, the largest exhibition of architecture, decoration and landscaping of the Americas and is also part of the select group of B Corps, a global movement of companies that go beyond just profits and generate benefits to the planet and society.
About the Cartesian Capital Group (CCG)
Cartesian Capital Group is a global private equity firm with offices in New York, São Paulo, Shanghai, Warsaw and Bermuda. CCG has proven expertise helping closely held and family owned companies expand their domestic and international business.
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