CeeLite™ has announced that it has raised $4 million in private equity investment.
“This is a monumental event for the entire CeeLite family,” CeeLite CEO Malcolm Hayward says. “Thanks to the dedicated guidance of Pete Musser and The Musser Group, we have been able to achieve our most recent achievement. The money that has been raised in this private equity round of financing will be used to further solidify CeeLite’s position as an innovative leader in the lighting industry.”
CeeLite’s implementation plan for the investment includes an expansion of the company’s infrastructure to meet current growth expectations, highlighted by the planned opening of a new plant in the metropolitan Philadelphia area sometime in 2008. The addition of a manufacturing facility in the US will allow CeeLite’s existing Taiwanese facility to focus on the continuously expanding Asian markets.
“In today’s global economy, it is not often that an American company has the opportunity to bring new manufacturing jobs to the US,” Hayward adds. “CeeLite chose the Delaware Valley as its headquarters because of the area’s longstanding traditions in technology, manufacturing, and entrepreneurialism and we look forward to further anchoring our presence in this fantastic region.”
Founded in 2001, The Musser Group was designed to help entrepreneurs and small, emerging companies take their businesses to the next level by providing financial capital, as well as the knowledge and relationship capital built by Pete Musser during a 53-year career which has spanned 500 companies and nearly $10 billion in capital raised.
“CeeLite’s product, technology, team, and market represent a bourgeoning opportunity to The Musser Group and any investor looking for emerging growth,” Musser Group founder and CEO, Pete Musser comments. “We have been very impressed by the company and their product’s impact on the Green Energy and Technology Market. CeeLite is truly ushering in a lighting revolution, we believe, on how marketers market, advertisers sell, and cities light their streets.”