Preciseley Announces Equity Investment and Partnership with Ace Equity Partners and BDC Capital
EDMONTON, AB, Aug. 26, 2020 /CNW Telbec/ - Preciseley Microtechnology Corporation ("Preciseley" or the "Company"), a leading designer and supplier of MEMS-based micro-mirror solutions that form a critical component of high-speed optical communication network equipment, today announced a partnership with ACE Equity Partners ("ACE Equity") and BDC Capital to support the Company with its next stage of growth.
Through this new equity investment by ACE Equity and the Growth Equity division of BDC Capital, Preciseley will be able to leverage ACE Equity's domain expertise in cross-border advanced industrial technologies and its relationships across the telecom value chain, as well as BDC Capital's network and experience helping scale Canadian technology businesses, to continue Preciseley's global expansion.
"We are very excited about this new partnership with ACE Equity and BDC Capital and look forward to pursuing the next chapter in Preciseley's development," said Dr. Tiansheng Zhou, the Company's CEO. "This partnership enables our team to have the resources and support to accelerate our growth and to continue to provide high-quality, advanced MEMS products to our expanding customer base."
"Preciseley is a leader in its field and we look forward to working closely with Dr. Zhou and his team to continue the Company's expansion," said David Ko, CEO of ACE Equity. "This partnership is directly aligned with our cross-border investment strategy in advanced technology businesses that stand to benefit from the shift in smart technology required to support broader industry trends, including the upgrade of 5G network infrastructure globally."
"We are excited to partner with this rapidly growing Alberta-based technology business with global reach in the telecom infrastructure end market. This partnership will enable Preciseley to continue to build the team and infrastructure necessary to accelerate its growth strategy," said Jeremy Billan, Partner, Growth Equity at BDC Capital. "We look forward to working with Dr. Zhou and his team, and ACE Equity, to help scale this great Canadian business and cement its global leadership position," added Loren Rafeson, Partner, Growth Equity at BDC Capital.
About Preciseley
Based in Edmonton, Alberta, Preciseley is one of the leading independent providers of optical MEMS solutions globally. Founded in 2006 and operating out of the NRC Nanotechnology Research Centre, Preciseley is a fabless designer and supplier of a range of MEMS micro-mirror products, including electrostatically-actuated mirror devices used for laser beam steering, switching, and manipulation, with diverse application across optical systems, telecommunications, sensors and other fields. The Company holds numerous patents in the United States, the European Union, and Japan. For more information, visit www.preciseley.com.
About ACE Equity Partners
Founded in 2017 and led by industry experts, ACE Equity is a South Korea-based private equity firm pursuing value creation domestically and cross-border in industrial technology opportunities arising from the tectonic shifts in manufacturing economic activities due to intelligent technology upgrades and international supply chain reshuffling. ACE Equity has accumulated assets under management of US$ 1.2 billion and has completed 11 investments with combined transaction value in excess of US$ 2.2 billion.
About BDC Capital
BDC Capital is the investment arm of BDC - Canada's only bank devoted exclusively to entrepreneurs. With more than $3 billion under management, BDC Capital serves as a strategic partner to the country's most innovative firms. It offers a full spectrum of risk capital, from seed investments to transition capital, supporting Canadian entrepreneurs who wish to scale their businesses into global champions. Visit www.bdc.ca/capital.
SOURCE Preciseley Microtechnology Corp.
