A Latvian company RCG LightHouse LLC (the Company) has concluded a deal with one of the leading Baltic asset management companies “Orion Asset Management” to attract one of its equity funds as a new shareholder and financial partner. The fund will provide new funding that will allow the Company to further accelerate transition to highly efficient LED Lighting as a Service in private un public sectors. The Company aims to strengthen its leading market position in the Baltics and enter new markets in Poland and other European countries.
“As electricity price keeps increasing, customers need to accelerate transition to energy efficiency solutions. Lighting as a Service allows doing that without any upfront investments and without taking technical risks as RCG LightHouse takes full responsibility. We are glad that with our new financing partner “Orion Asset Management” we will play an important role in the European Green Deal transition. New funding will be invested to scale up operations, hire new people and to co-finance LED lighting systems for B2B and municipal customers”, says Kaspars Osis, CEO of RCG LightHouse.
The previous financing partner of the Company was investment fund FlyCap, which made seed capital investment in 2015 and has exited fully with this transaction.
Redgate Capital acted as a financial advisor in this transaction for RCG LightHouse.