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LGT Private Debt arranges a unitranche facility to support the acquisition of Lyco by Spanish portfolio company EfectoLED, led by Miura Partners

June 30, 2022

LGT Private Debt is pleased to announce that entities it advises acted as sole arrangers and underwriters of a top-up unitranche financing, supporting the acquisition of Lyco by Spanish portfolio company efectoLED (the “Group”), led by Miura Partners (“Miura”).

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Founded in 1994 with headquarters in Milton Keynes (United Kingdom), Lyco is an online distributor and reseller of branded indoor and outdoor lighting and ancillary products, mainly sold through four e-commerce websites, among which the UK leading player Lighting Direct, and primarily addressing a BtoC customer base. 

EfectoLED is a leading European specialist in the pure online distribution of LED lighting solutions to both BtoB and BtoC segments, thanks to its wide product offering and added-value services. Founded in 2014 and benefiting from a first mover advantage, the Group has rapidly become a market leader in Spain, Portugal, France and Italy. Entities advised by LGT Private Debt acted as sole arrangers and underwriters of the unitranche financing supporting the acquisition of efectoLED by Miura in 2018. 

“LGT Private Debt is pleased to support Miura as well as efectoLED’s management team in their next development phase. We are particularly attracted by the rationale of the acquisition, which will allow efectoLED to acquire a local footprint in the United Kingdom, and to generate significant cross-selling opportunities in terms of products, geographies and end-markets." stated Kevin Abrial, Partner at LGT Private Debt. "We have successfully partnered with Miura on efectoLED’s primary buyout in 2018, as well as on a previous transaction (Tiendanimal), and value their hands-on investment strategy, which led the Group to achieve a strong top-line growth over 2018-2021 and to further expand its geographical footprint across Europe.” 

“We are pleased to team up again with LGT Private Debt as we believe they will be a valuable financing partner to support efectoLED and its future development”, said Jordi Alegre, Partner at Miura.