Bpifrance is investing, via its ETI 2020 fund, 9 million euros on the occasion of the 28 million euros capital increase of Microwave Vision Group ("MVG"), an innovative French company specializing in the design, manufacturing and marketing of antenna test and measurement systems. The settlement-delivery of the new shares is scheduled for July 18, 2014.
Bpifrance is pleased with the success of this operation, which gives MVG the means to finance its development. The funds raised aim to: • enable MVG to have the means to seize external growth opportunities, particularly in Europe or in the Americas region;
• strengthen the financing of working capital requirements linked to the strong organic growth of the company, in a context of an increase in the order book for major international projects;
• further accelerate MVG's R&D effort, focusing on its core businesses as well as on new developments, in order to maintain the high level of added value which characterizes and differentiates its products and services.
Bpifrance's investment aims to support an innovative French mid-sized company in a new stage of growth that should allow it to diversify its activity and increase its international presence. Following this transaction, Bpifrance holds 13.8% of the company's capital. Bpifrance will propose the appointment of a director at the next General Meeting of shareholders of the company, in addition to the position of censor he already holds.
Sébastien Moynot, member of the management committee of Bpifrance ETI 2020, declared: “ Bpifrance, via its ETI 2020 fund, is delighted to participate in this great entrepreneurial adventure, driven by quality management which has known, over the past few years , apply cutting-edge technologies to become one of the leaders in its market. Thanks to this capital increase, the company has the means to further accelerate its development, particularly internationally. "
Philippe Garreau, Chairman and CEO of MVG, declared: “ The success of our capital increase testifies to the confidence of investors in MVG's strategy. We are convinced that MVG is in a unique position to become a world champion in antenna measurement systems. We welcome the participation of Bpifrance, long-term shareholder, Seventure Partners and other historical shareholders in the transaction. "
Find out more: www.microwavevision.com