Sept. 28 (Bloomberg) -- Zouk Capital LLP, a London-based private equity firm, invested in Lighting Science Group Corp. as the Florida-based maker of energy-efficient lighting seeks to reach profitability and boost sales.
An unspecified sovereign wealth fund from the Middle East also added to the $49 million equity investment, Lighting Science, based in Satellite Beach, said in a statement.
LED lighting uses light-emitting diodes which are more efficient than traditional fluorescent and incandescent lamps. Energy efficiency equipment is attracting private equity investors such as Italy’s Ambienta SGR SpA and London-based Impax Asset Management Group Plc as power demand rises on the back of increased affluence in emerging markets.
The latest financing, the last portion of a $168 million equity program, will help Lighting Science “achieve profitability” and speed up new product sales, according to the statement. California-based Riverwood Capital LLC and Lighting Science’s major shareholder Pegasus Capital Advisors LP, based in New York, contributed to the previous funding rounds.
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