Airstar, a world leader in advanced lighting solutions for the event, rental staging, cinema, broadcast, architectural design, construction, rescue and safety industries, is proud to announce that they have received a €1M (one million euros) capital injection to help accelerate their development.
Handled by Audacia, an independent management company, the new funding will allow Airstar to finance entirely its needs in research in development, while strengthening its position as the world leader in the manufacture of lighting balloons and at the same time offering new breakaway opportunities to the industry.
Concerning the impending increase in capacities for the company, Benoit Beylier, CEO of Airstar, enthuses: “The lighting industry has recently experienced considerable technological advances. Over the past 20 years, we have launched many significant innovations in illuminating balloons, and we are committed to continuing with this trend. Not only is this capital increase essential to the development of our brand, it is also a strong signal that we are sending out to the vertical markets we’re involved in. This will allow us to reinforce our position while capitalising on our international network of subsidiaries and distributors.”
Airstar’s R&D agenda will be a vigorous one, Beylier confirming that “these funds will immediately be allocated to the financing of five major projects which will be unveiled over the next 24 months.”
With 120 employees, the company has enjoyed a constant growth of its turnover in recent years, increasing from €14 to €15 million in the last fiscal year. Airstar, which celebrates its 20th anniversary in 2014, is currently distributed in more than 60 countries, with international markets responsible for 75% of its turnover.
Speaking about the development of Airstar, Francois Terrier, Head of Investments at Audacia, summarises, “We were convinced by the business plan presented by Airstar. Their products and solutions are a fantastic value proposition and are reflective of a unique savoir-faire.” He concludes: “Airstar proved that they are real innovators and that they can find growth relays outside of their territory, and in particular in various verticals. The high calibre and complementary nature of their management team was also an important criterion in our decision to support Airstar’s development.”