Eurofase Announces Strategic Investment From Beach Point Capital Management

News provided by

Dec 04, 2023, 08:30 ET

Investment supports the continued expansion of leading brand in decorative and architectural lighting products

TORONTO, Dec. 4, 2023 /PRNewswire/ -- Eurofase Inc. ("Eurofase" or the "Company"), a manufacturer of premium lighting and heating products in North America, based in Toronto, Canada today 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 over thirty 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."

Tony Davidson, CEO of Eurofase, 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.

About Eurofase Inc.

Founded in 1989, Eurofase Inc. is a leading designer and manufacturer of premium lighting fixtures and heating products. Over the last 30+ years under the Bitton family, the Company has emerged as a design leader and key supplier to some of the preeminent retailers and distributors across North America. Eurofase boasts a wide array of distinguished products catering to a range of commercial and residential applications. For more information, visit www.eurofase.com.

About Beach Point Capital Management

Beach Point Capital Management is a multi-strategy investment manager making credit, private equity, real estate and structured product investments. As of September 30, 2023, Beach Point Capital Management manages $15.0 billion in AUM on behalf of institutional investors. Headquartered in Santa Monica, CA, the firm also has offices in New York, London, and Dublin. Beach Point Private Equity leverages Beach Point Capital Management's deep industry expertise, network and shared resources to be a value-added partner for its private equity portfolio companies. Beach Point Private Equity seeks investments with capital requirements of $15 - $150 million and currently has 10 portfolio companies.

Press Contact
Beach Point Capital Management
Prosek Partners
Josh Clarkson
203.273.7935 / [email protected]

SOURCE Beach Point Capital Management