HCAP Partners made an undisclosed investment in Los Angeles-based LED manufacturer Noribachi, whose revenue doubled to $22 million last year, the companies said Wednesday.
San Diego-based HCAP, formerly known as Huntington Capital, represents the first major outside investor for Noribachi. The bulk of initial investments came from founders Farzad and Rhonda Dibachi. The company was founded in 2008 and makes high-output commercial and industrial LED lights, with clients including government agencies, hotels and Fortune 500 companies.
“We believe Noribachi will continue to strongly differentiate themselves in the market, incorporating design and technology to deliver next generation lighting solutions that offer value and a strong return on investment,” HCAP managing partner Tim Bubnack said.
HCAP Partners, a mezzanine debt and private equity firm, invests $2 million to $9 million in health care, technology, services and manufacturing companies that generate between $10 million to $75 million each.