Eurofase Inc., a manufacturer of premium lighting and heating products in North America, based in Toronto, has announced a strategic investment from Beach Point Capital Management ("Beach Point"). The investment was made by Beach Point's private equity team on behalf of BPC Tactical Fund LP. The Bitton family, which founded the business in 1989, retains a stake in the business along with Eurofase's CEO, Tony Davidson. Davidson will continue to lead the company's growth strategy going forward. Terms of the transaction were not disclosed.
For more than 30 years, Eurofase has been recognized as a luxury line of lighting fixtures for residential and commercial properties delivering design leadership in fashion and innovation. Eurofase products are found around the globe and are known for their reliability and exceptional quality standards.
Evan Klebe, Managing Director at Beach Point, commented: "We are thrilled to partner with Eurofase, the Bitton family and Tony Davidson, to build upon the Company's decades-long reputation as a premier designer, supplier and manufacturer of thoughtfully designed lighting and heating products."
Davidson shared: "It has been a privilege to help lead the Company's development over the past four years. Given our strong product and channel diversification and our market position as a product leader, I am excited about the growth opportunities for the company and confident in what our teams can deliver to our valued customers."
Michael Bitton of Eurofase, added: "We are so pleased to have partnered with Beach Point in this next chapter of our family business. The vast resources that Beach Point brings will undoubtedly augment our growth trajectory and allow us to continue to serve our customers with the highest quality and care."
Stifel served as exclusive financial advisor to Eurofase in connection with the transaction.