PARIS, FRANCE, October 25, 2002 — LASCOM, a provider of Internet-enabled Product Lifecycle Management (PLM) and Business Process Management (BPM) solutions, announced that it has received an equity investment from Greenwich Power LLC, a private equity firm focused on investment opportunities in the power industry.
“The current turbulence in the U.S. power markets is driving companies to reduce costs and improve efficiency wherever they can,” said Barry Kupferberg, Managing Director of Greenwich Power, and new member of the LASCOM Board of Directors.”
LASCOM’s product, Advitium, allows customers to rapidly improve productivity. Customer sales are driven by near-term cost savings combined with a short investment payback. LASCOM’s strong commercial traction in Europe and our investment will allow the company to further develop its position in the U.S. power market.”
Jean Louis Henriot, President and CEO of LASCOM, commented, “We are pleased to welcome Greenwich Power as a significant shareholder in LASCOM. The U.S. market represents an increasing share of our global business and makes up a significant percentage of our sales potential. LASCOM will benefit from Greenwich Power’s capital investment and their U.S. power industry expertise. Greenwich Power joins previous round investors AXA, Capital Prive (a subsidiary of Activa Capital), and Fcpr Kairos Ventures (a subsidiary of IDI).”
“The company’s success in securing this funding enables us to accelerate our reach and growth in the U.S. power industry,” said Alan Kiraly, President of LASCOM’s U.S. operations. “Greenwich Power’s investment is a vote of confidence and an affirmation of the success we have achieved to date.”
Advitium is a web-enabled, package-centric workflow solution that offers a rich set of functions to help users manage their product and project information. LASCOM’s customers use Advitium to coordinate the design, development, and collaboration of their power generation projects across the entire enterprise and supply chain, thus driving shorter delivery times, reducing costs, and improving customer satisfaction.
LASCOM (www.lascom.com), a provider of Internet-enabled product life cycle and process information management solutions for the Aerospace/Defense, Energy, Transportation, and OEM Supplier markets, creates competitive advantage by facilitating the timely exchange of mission critical information and by giving management visibility into the effectiveness of their business processes.
Headquartered in Paris, France, LASCOM has regional branches in Lyon, Toulouse, Strasbourg, and San Diego, California. For more information, please contact LASCOM at +1-858-452-1300 or firstname.lastname@example.org.
About Greenwich Power
Based in Greenwich, Connecticut, Greenwich Power LLC is a private equity firm focused on the power industry. Its principals have significant restructuring and private equity experience as well as a detailed knowledge of the energy and power industries, including commodity risk management. For more information send an email to email@example.com.