Paris/Munich, December 20th, 2016 – Bryan, Garnier & Co advised Visedo, a leading provider of electric powertrains and components, on the €13.5 million equity investment part of a €20 million financing package comprising: equity, an EFSI loan of €5 million and €1.5 million in funding from other sources.
The Series C equity financing, led by Emerald Ventures, was oversubscribed, and other selected participants included: Ilmarinen, LähiTapiola, Suffice International, Green Campus Innovations and Visedo’s employees, as well as existing investors Sinituote, Finnish Industry Investment, and VNT Management.
Visedo, based in Lappeenranta, Finland, manufactures high performance powertrain systems for commercial vehicles, heavy-duty machinery and marine vessels. These markets are expected to grow rapidly to around €11 billion by 2020. When other electric vehicles are included, the total market will be €50 billion. Visedo’s compact, robust components controlled using its intelligent software provide customers with comprehensive powertrain solutions.
Bryan, Garnier & Co recognized the potential of the growing demand for industrial e-mobility where robustness and specifications must far exceed those applicable to passenger cars. Rapid growth is forecast across key industrial markets, driven by environmental regulation and a need for efficiency, and boosted by massive roll-outs of electric buses in China.
The funding round was one of the largest in Finland and in the cleantech sector in 2016.
This transaction builds on Bryan, Garnier & Co’s long-standing presence in the Nordic region and adds to its credentials in e-mobility and automotive technologies, following on from the recent €22 million fundraising for Helsinki based Canatu (flexible and 3D formable touch screen technology for consumer electronics, wearables and automotive applications).
“This represents yet another win in the automotive and transportation space, and underscores our growing experience in an industry that is being buffeted by three winds of change – namely vehicle electrification, ride-sharing models and autonomous driving. Our continuing work in this space assists key growth technology players as well as established investors and buyers to adapt to a rapidly changing environment”, said Jay Marathe, Managing Director at Bryan, Garnier & Co.
Bryan, Garnier & Co acted as the sole private placement agent for this transaction.
Investment bank: Bryan, Garnier & Co (Falk Müller-Veerse, Jay Marathe)
About Visedo (www.visedo.com/en)
Founded in 2009, Visedo is a Finnish company specializing in electric powertrains and components for heavy-duty machinery, commercial vehicles and the marine industry. Its powertrains are suitable for hybrid and electric systems within the power range of 30 kW to 2,000 kW. Visedo’s head office is located in Lappeenranta, Finland, and the company has a subsidiary in the Netherlands. Visedo has a broad, international client base, with exports to Europe and Asia representing 90 percent of its sales.
About Bryan, Garnier & Co (www.bryangarnier.com)
Bryan, Garnier & Co is a European, full service growth-focused independent investment banking partnership founded in 1996. The firm provides equity research, sales and trading, private and public capital raising as well as M&A services to growth companies and their investors. It focuses on key growth sectors of the economy including Technology, Media, Telecoms, Healthcare, Smart Industries, Specialty Retail and Business Services. Bryan, Garnier & Co is a fully registered broker dealer authorized by the FCA in Europe and the FINRA in the U.S. Bryan, Garnier & Co is headquartered in London, with additional offices in Paris, Munich, Geneva, New York and New Delhi. The firm is a member of the London Stock Exchange and Euronext.