- Published: Monday, 02 October 2017 15:59
Lumenier has successfully secured financial funding by partnering with Pfingsten for the drone industry’s first private equity investment.
Pfingsten, an operationally-focused private equity firm, made a strategic move to be the first private equity investor in the drone industry by investing heavily in Lumenier and GetFPV’s future growth.
“I truly believe this is a huge watershed moment for the drone racing, hobbyist and commercial industries.” said Tim Nilson, Founder and CEO of Lumenier and GetFPV. “This partnership with Pfingsten will allow us to invest heavily in new product development, ramp up our production capacity and improve customer service to satisfy our loyal customers. Our industry has been plagued with long design delays and product backorders. Our new financial partners will allow us to get product in the hands of our customers and dealers quicker, as well as bring new industry altering products to the market.” When asked about his next move, Tim Nilson said “My greatest career joy has been the drone industry. I love this industry and will remain the CEO at Lumenier and GetFPV for years to come. For me, I now have the financial backing to turn many new ideas into reality.”
Over the past 28 years, Pfingsten has acquired and funded 121 companies. “We have done an enormous amount of research on the drone market. Lumenier was one of the premier companies that rose to the top of the list.” said Phillip Bronsteatter, Pfingsten Principal. “Our strategy is to make significant investments in people, production capacity and new products to keep up with the product innovation customers are looking for and the anticipated rocketship growth of the industry.”
Lumenier is a high-end designer and manufacturer of top quality drone products – airframes, motors, batteries, propellers, electronics, antennas, accessories, and more. The company operates from its main headquarters in Sarasota, Florida, with wholly owned manufacturing facilities in the U.S. and China. Leveraging their expert aeronautical, mechanical and electrical design engineers, Lumenier has become known globally for its innovation and quality. For more info please visit www.lumenier.com or call 941-444-0021.
Pfingsten is an operationally focused private equity firm formed in 1989. From its headquarters in Chicago, IL and representative offices in ChangAn, China, New Delhi, India and Chennai, India, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth rather than financial engineering. Since completing its first investment in 1991, Pfingsten has raised five investment funds with total commitments of approximately $1.3 billion and has acquired 121 manufacturing, distribution and business services companies. For more information, visit www.pfingsten.com.