The LUMIBIRD Group is announcing on December 2, 2020 that it has set up €140 million of financing based on a seven-year maturity with a view to securing continued growth around its already successful model that combines organic and external growth. LUMIBIRD aims to double its revenues between 2020 and 2023, with growth concentrated on its three strategic markets: Medical, Lidar and Defense /Space. Investments will focus on strengthening technologies, particularly for Lidar, and acquiring market shares and production capacity, primarily in the Medical and Defense /Space sectors. Modeled on previous acquisitions (Quantel, Optotek, Halo Photonics, Ellex), each new external growth operation is expected to help accelerate organic growth. These objectives will be presented in further detail when the Group reports its revenues on January 25 next year. This financing brought together bank lenders and bond investors. Alongside traditional financial covenants, the Euro PP bond includes two “impact” covenants, which contractually set out the borrower’s commitment to: increasing the percentage of employees with disabilities at the various sites in France each year; and increasing the number of employees on permanent contracts at the Lannion site. The financing rate will be adjusted based on compliance with these impact covenants through to the loan’s maturity. Part of the financing was drawn down on December 2, 2020 on closing, with the balance to be released within 12 or 24 months depending on the pace of acquisitions. These new lines made it possible to clear the €35 million line set up in June 2019, while putting in place €105 million of new capacity for financing external growth, alongside the cash position of over €78 million at June 30, 2020. This financing was set up under very attractive conditions (average rate of around 2.4%), and the amount and the timeframe for the commitment made by the lenders confirm the Lumibird Group’s strong credit rating and its robust development model through organic and external growth.