Our twenty-fourth update email continues to track recent actions and news concerning European Family Investment Companies (FICs). This Edition contains news items featuring 20 FICs from Switzerland, Spain, Germany, Belgium, UK, Denmark, Sweden, Italy, France and Hong Kong. Again, we examine how European FICs are managing as the pandemic crisis enters a new phase.
As we head towards the close of the year, FIC investment activity shows no sign of abating with new investments to support diversification, in agritech and to strengthen portfolio companies. FIC venture arms have been busy investing to support innovation and entrepreneurship, while another FIC is establishing one to follow suit. Outside talent is being brought in to strengthen boards, and in another instance there is smooth succession from a family to a non-family CEO.
FIC flexibility is once again demonstrated by a range of stories: a governance model is changed from executive to partnership, a major portfolio company is merged with another business to support its future in a challenging industry and a heritage business is modernised. Again, the resilience and success of the FIC Model is demonstrated by positive full-year, H1 and Q3 results. In other stories, one FIC portfolio company creates a NextGen board to foster fresh thinking and a Nordic FIC has put its money where its mouth is on the green agenda by linking the price of new bonds to how it performs against sustainability targets.
The News Briefing concludes with 17 practical Takeaways, our interpretations of what the news means for family investment companies.
As this is the last EFIC News Briefing of the year, we take this opportunity to wish all our readers a Happy Christmas and a safe, healthy and successful 2022!
NOTE: EFIC News Briefing is sent to our subscribers of The European Family Investment Company Report, 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.
If you wish to join our community of subscribers to The European Family Investment Company Report and receive EFIC News Briefings regularly and in full, as well as enjoying facilitated networking and introductions, participate in peer-to-peer virtual conferences, acquire a copy/copies of our European Family Investment Company Report and benefit from an hour of an Author’s time to discuss our findings in detail, please email: info @ deanbridgeinternational.com