International. Energy management solutions company Distech Controls recently announced that Samsung Ventures has become a shareholder.
Samsung Ventures reported a US$38 million investment, which will expand Distech's capital base, and the funds from this financing will be used to accelerate the company's growth plan and the development of work plans around the world, including acquisitions.
"As an energy management solutions company we believe it is critical to bring together the right in-house team and financial partners to help us better serve the needs of our customers and partners. We have certainly achieved this goal, which brings together both the capital that is required to fuel our growth strategies, as well as a fantastic group of investors who support mission-driven companies," said Étienne Veilleux, President and CEO of Distech Controls Inc.
"Our investment in Distech controls is consistent with our strategy of working closely with established market leaders," said Michael Pachos, Senior Investment Manager at Samsung Ventures.
