Being Eco-friendly, cheaper and sustainable, Lab-grown diamonds are becoming more popular among younger buyers, especially the millennials. In 2019, it is forecasted that Lab-grown diamonds will continue to build momentum. While new entrants are constantly expanding the Lab-grown diamond retail market – Kimaï being the latest Lab-grown Jewelry brand launched, the sector is also witnessing increasing financial transactions including M&A, funding and deals.
PE firm invests in WD Lab Grown Diamonds
Washington D.C.-based WD Lab Grown Diamonds has received a significant equity investment from Private Equity firm Huron Capital. The investment has been raised to further expand capacity, build more trade partnerships, get expertise to manage high growth and set priorities in scientific and industrial diamonds category.
The company already supplies Lab-grown diamonds to Berkshire Hathaway’s subsidiary – Richline Group, for their Lab-grown diamond brand, for sales to national retailers. WD also has access to exclusive global licenses of patented CVD and other diamond growing techniques by Carnegie Institution, which is also a shareholder in the company since 2011.
Clive Hill and co-owner Yarden Tsach will continue to remain significant shareholders in the company and also continue in their roles as CEO and CTO respectively. Details and value of the investment however remain undisclosed.
Adamas One Corp buys Lab-grown diamond manufacturer Scio Diamond’s assets
According to a US SEC commission filing, assets of Scio Diamond – a Lab-grown diamond manufacturer, are being acquired by Nevada-based Jewelry company Adamas One Corp. Adamas will pay $ 3.3 million for Scio’s secured debt over a period of 18 months, give its 350,000 shares for Scio’s unsecured debts of over $ 3 million. Besides, Adamas will give 900,000 of its shares to owners of Scio Diamonds, upon finalization of Scio’s liquidation. Scio’s owners will be allowed to sell those shares 2 years after completion of agreement and subject to Adamas shareholders’ approval.