XL Video Receives €19M Investment from Gimv
Following the transaction, which consists of both a capital increase and the acquisition of existing shares, is expected to close in the next months. Gimv-XL fund will become the largest shareholder in XL Video, owning a 47% interest. The remaining shares will still be owned by the company’s management and other investors.
Founded in 1996 and led by CEO and co-founder René de Keijzer, XL Video is an international leading player in the rental of video technology, such as video screens, for major concert tours, trade fairs, TV shows, sports and other events. The group has a large stocks of high-end video technology such as video displays (LED, projection, plasma and LCD), HD camera systems and large trucks with built-in video screens. XL Video also develops and sells its own LED systems (Pixled).
The company, which also operates offices in Ghent, Belgium, the US, the UK, Germany, France, the Netherlands, Sweden and China, achieved a turnover of €71m in 2010 and currently has around 200 employees.