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October 21, 2003
Prolitec SA to be Acquired by Quaestech LLC
MILWAUKEE , WI, October, 21, 2003 - Prolitec SA, a research and development company specializing in liquid projection technologies, announced that it had signed a definitive sale agreement with QUAESTECH LLC, a U.S. private equity fund. The sale amount was not disclosed.
Prolitec has offices in Paris and Montpellier France and is the leading company in France in the emerging field of olfactory advertising and marketing. Prolitec technology is widely used for the diffusion of fragrances for odor control and the creation of ambience.
QUAESTECH is an investment fund managed by QUAESTUS & Co., Inc., a Milwaukee-based investment company specializing in start-up and early-stage technology and technology enabled services companies. QUAESTUS has been an investor in Prolitec since 2002.
“Our current team will remain in Paris and Montpellier while QUAESTUS establishes a presence in the U.S. market,” according to Guillaume Besse, CEO of Prolitec SA.
Richard Weening, CEO of QUAESTUS, said: “We will spend the next year or so validating the U.S. market for various Prolitec technologies and applications and determining which sectors we will pursue. We have learned a great deal from the experience in France.”
Press Contact: Caroline Koss, Director of Client Services, 414-615-4630
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