Leuven-based tech holding Crescent has attracted a new strategic investor and sold control of a Dutch subsidiary to bolster its finances.
Crescent, the Leuven technology group led by entrepreneur Eric Van Zele, has secured fresh funding and reshaped its portfolio in a bid to stabilize its financial position.
Van Zele Holding (VZH), the investment vehicle of Van Zele, will transfer 200 million shares in two tranches to an undisclosed strategic investor, with payments due by the end of September.
Crescent has also struck a financing deal with Hexagon Capital Fund for a bond issue worth up to €600,000. The bonds carry a two-year maturity and a 10% interest rate, with €200,000 already placed and guaranteed by VZH shares.
As part of the restructuring, Crescent is selling a 51% stake in Remoticom, its Dutch subsidiary specializing in smart sensors for cities and infrastructure. Crescent will retain 49%.
The moves provide much-needed breathing space for Crescent, which remains listed on Euronext Brussels. Despite improved results in 2024, the company posted its twelfth consecutive net loss and slipped into negative equity.
Van Zele, the former CEO of Barco, plans to sharpen Crescent’s focus on three core businesses: Sait (radio frequency services), Innolumis (energy-efficient LED street lighting), and Option (IoT devices and connectivity). At Option, Filip Van Craenenbroeck has been appointed general manager, tasked with reviving the brand in Europe with a focus on secure, user-friendly technology.
