Our sixteenth update email tracks recent actions and news concerning European Family Investment Companies (FICs). This Edition contains news items featuring 18 FICs from Belgium, Greece, France, Spain, Germany, Sweden, UK, The Netherlands, Italy and Switzerland. Again, examining how European FICs are managing as the pandemic crisis continues.
FICs are reporting their 2020 results which again underline the resilience of the FIC model with its flexibility, high liquidity coupled with low leverage, strong tradition, values and governance, diversified portfolios and firm entrepreneurial intent. Opportunities continue to be grasped, with acquisitions, exits, add-ons, part-divestments and JVs being made in sustainable, solar, energy storage, household products, outdoor security, EdTech, asset management, MedTech, online fashion, food technology and packaging. And FICs continue to display robust yet flexible governance with senior roles being split, home-grown talent being promoted, outside talent being recruited from other FICs and private equity, boards being strengthened, women taking senior positions, and generational change with both family and non-family ‘NextGen’ being given new responsibilities.
The News Briefing concludes with 13 practical Takeaways, our interpretations of what the news means for family investment companies.
NOTE: EFIC News Briefing is sent to our subscribers, members of our Advisory Network and selected others at our discretion. We hope it is of use in these challenging times. We will be happy to answer any questions or discuss anything further. And do send us your comments, ideas and suggestions and any news stories you see.
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