FSL will use the financing to expand its world-class engineering and R&D teams as well as develop sales, marketing, and customer support initiatives and is actively hiring ( www.fsl3d.com/jobs). FSL will accelerate development of their next generation affordable laser cutting / engraving and 3D printing platforms in order to capitalize on the significant market demand for its products.
"Our partnership with Summer Street represents a significant milestone in our strategic growth plan. We are excited to accelerate our already rapid growth in the 3D printing market and continue to expand our laser cutting and engraving business," said Henry Liu, PhD, Founder and CEO of FSL and FSL3D.
Founded in 2010 in a Las Vegas garage by a Stanford PhD, FSL and wholly-owned 3D printing subsidiary FSL3D, designs, manufactures, and sells a full range of consumer and industrial grade laser products including cutting / engraving lasers and the Pegasus Touch Laser 3D Printer. FSL creates superior price / performance products through an emphasis on innovation and engineering excellence, with over $1.0 million previously raised from two successful Kickstarter campaigns.
FSL3D's first generation 3D Printer, Pegasus Touch, builds upon FSL's long laser heritage and expertise. By using a custom UV laser controlled by FSL's proprietary laser controls, Pegasus Touch is able to deliver professional quality results at a fraction of the price of previous laser 3D printers. The Pegasus Touch offers best-in-class resolution, a large build area, and smart internet connectivity to deliver 3D content through its built-in patent pending touchscreen-driven 3D Printing App Store. The combination of impressive features and attractive price point make Pegasus Touch perfectly suited for a broad array of end markets, with customer demand spanning both enterprise and consumer uses. FSL looks to democratize high quality 3D printing with its revolutionary patent pending technologies such as SuperVat™, details of which will be available at CES 2015.
Garth Troxell, a Partner at Summer Street Capital, said "FSL has assembled a highly talented team and we're excited by the prospects for the Pegasus Touch and the 2D laser cutters and engravers, as well as additional 3D printers FSL currently has in development utilizing other technologies and materials. Each of these product offerings has excellent growth potential."
Mooreland Partners LLC acted as exclusive financial advisor to Full Spectrum Laser LLC in connection with this transaction.
About Full Spectrum Laser
Founded in 2010 in a Las Vegas garage, Full Spectrum Laser and wholly-owned 3D printing subsidiary FSL3D, designs, manufactures, and sells a full range of consumer and industrial grade laser products. As a highly-integrated company, FSL produces all electronics, software, mechanical hardware, and chemistry in-house for the tightest integration of engineering disciplines. FSL creates superior price / performance products through an emphasis on innovation and engineering excellence. The Company's product assembly, sales, customer support, logistics, and administrative groups are also in Las Vegas. FSL was founded by Henry Liu, a Stanford University PhD in Mechanical Engineering and Applied Physics. FSL has grown rapidly since its inception, including entering the 3D printing market in 2013. To learn more about FSL and FSL3D visit www.fslaser.com and www.fsl3d.com.
About Summer Street Capital Partners
Founded in 1999, Summer Street Capital Partners LLC is a Buffalo, NY-based fund manager with in excess of $440 million of private equity capital as of 12/31/2013. The firm invests alongside talented managers, bringing capital and resources to support aggressive growth strategies and acquisitions. To learn more about Summer Street visit www.summerstreetcapital.com.
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SOURCE Summer Street Capital Partners; Full Spectrum Laser
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| Summer Street Capital Partners
Full Spectrum Laser Full Spectrum Laser LLC FSL3D Full Spectrum Laser, Andrew Boggeri Email Contact (702) 802-3100, facebook.com/fslaser, twitter.com/FSL3D; Summer Street Capital Partners, Garth Troxell Email Contact (716) 566-2909 Web: http://www.summerstreetcapital.com |