Our twenty-sixth update email tracks recent actions and news concerning European Family Investment Companies (FICs). This Edition contains items featuring 15 FICs from Germany, Greece, France, UK, Sweden, Spain, Poland, Belgium, Denmark and Switzerland. Again, we examine how European FICs are managing as the world struggles to emerge from the pandemic.
Positive early 2021 annual results again underline the resilience and robustness of the FIC model in a crisis, with one FIC acknowledging the vital role family leaders play in conveying calmness and security in difficult and uncertain times. Another vital part of the FIC model, flexibility, is again shown by several exits, of a chemicals business, a tech startup and a real estate holding, the latter by an ‘old’ noble, landed family, as FICs take their gains and pass assets onto new owners. Elsewhere FIC life goes on. New investments are made in a specialist medical treatment company and a clutch in Sustainable across smart cities, solar, wireless charging and geothermal heating. Impact-focussed funds are supported as is a portfolio company with an add-on acquisition. Other FICs support their growth and diversification strategies with major acquisitions, one of a 3rd generation family business. And again, we see FICs both promoting talent from within as well as recruiting from outside to fill senior executive positions. Finally, one FIC increases its stake in a long-standing business partner based in a currently perhaps challenging part of the world for EU businesses – Russia.
The News Briefing concludes with a dozen practical Takeaways, our interpretations of what the news means for family investment companies.
We wish all our readers a very Happy Lunar New Year and health, happiness and prosperity during the Year of the Tiger!
NOTE: EFIC News Briefing is sent to our subscribers to 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.
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