2011-11-15
ADEUNIS RF, a company specialising in the design, manufacture and sale of wireless radio transmission systems using the latest technology, announces the raising of 4 million Euros in convertible bonds and medium-term bank loans underwritten by both the A Plus Finance management company and two banking partners, Crédit Agricole and Banque Rhône-Alpes.
For over 17 years, ADEUNIS RF has relied on unique and patented technical know-how for its wireless transmission systems, and on unrivalled understanding of its customers' and prospective customers' specific needs in order to develop and market innovative transmission systems (RF, Wifi, Bluetooth). ADEUNIS RF uses its expertise to develop its own standard solutions and fully customisable ranges of products.
ADEUNIS RF markets three ranges of products:
• RF modules that can be incorporated into customers' applications.
• Ready to use data transmission products.
• Audio intercom solutions sold under the VOKKERO® brand.
Recognised as having a strong capacity for innovation, ADEUNIS RF operates in a number of sectors, including industry, energy, public transport, sport and the medical sector.
One of its leading products, Vokkero®, is a complete system composed of a set of portable radio terminals and microphone headsets. ADEUNIS RF thus offers a unique and secure multi-user audio intercom solution that does not require a fixed relay.Equipped with a patented noise filter, Vokkero® provides a solution to all the problems of communication in a noisy environment.
The Vokkero® system, designed by ADEUNIS RF, is already being used to equip the refereeing teams for the main European football championships and the largest international matches.
A growth strategy focussing on international development and the extension of its offering to new sectors.
On the strength of its sustained growth in turnover (+ 30% per year for the last three years) ADEUNIS RF's ambition is to become European leader for radio frequency products. In order to achieve this, ADEUNIS RF's strategy is to intensify its international development (in Europe and the USA principally).
This 4 million Euros of funding will also enable it to recruit ten new staff members over two years, mainly to be used in R&D and sales, adding to the current staff of 54 people.
The fund raising was conducted in two parts:
• €2.1 million in convertible bonds issued for a period of five years; this was accompanied by a partial transfer by the founding directors, who still very clearly remain the company's majority shareholders.
• €2 million in medium-term bank loans from two of our partners, Crédit Agricole and Banque Rhône Alpes.
Hervé Vincent, ADEUNIS RF's president and managing director, comments: "in order to strengthen our own funds, we decided to choose mixed financing. In terms of equity financing, bond funding provided an advantageous solution to our aim of preserving our financial independence. In terms of debt financing, the bank loans granted by our banks express our wish to enable partners that have shown confidence in us to participate in our growth. "
Alexandre Villet, A Plus Finance Investment Director, adds: "As is the case with all our projects, our confidence in ADEUNIS RF's management team played a key role in our investment decision. The company's profitable and consistent growth over 17 years and its clear and ambitious development strategy are fully within the range of A Plus Finance's bond investment target. "
About ADEUNIS RF:
Founded in 1993, ADEUNIS RF is a company specialising in the design, manufacture and sale of wireless radio transmission systems using the latest technology.
• Turnover to March 2011: €9M, forecast turnover to March 2012: €11.7.
• Double-digit growth for the last 3 years (30% in 2009, 30% in 2010).
• 54 staff in October 2011 (staff numbers that have doubled in less than three years). With forecast growth of over 10% in the next 6 months, essentially in the area of research and development and the sales department.
About A Plus Finance:
Founded in 1998, A Plus Finance is an independent management company, owned by its management, specializing in four areas of expertise: private equity, multi-management, cinema and property finance (OPCI). In this respect, it was managing over 350 million euros of assets as at 30 June 2011.
In terms of private equity capital, A Plus Finance operates in all the innovative sectors in terms of both shares and bonds through its FCPI, FIP and FCPR funds.
About Crédit Agricole:
Crédit Agricole Sud Rhône-Alpes is a large Regional Bank at the service of local development (involved with one company in 3 in its region) that relies on the solid base of the Crédit Agricole Group, one of the world leaders in Business Banking.
Its Regional Branch represented by Hervé CLAVEL, Director of the Grenoble Business Centre, is supporting ADEUNIS RF in its strong development in France and internationally.
About Banque Rhône-Alpes:
Banque Rhône-Alpes is a local regional bank with a presence in the Rhône-Alps and Burgundy Franche-Comté regions. Close to the local economic actors, its Grenoble Business Centre, represented by Mrs Cécile FERAIN, is supporting ADEUNIS RF in its development of innovative technology as well as in its international deployment.