Our twenty-ninth update email tracks recent actions and news concerning European Family Investment Companies (FICs). This Edition contains items featuring 20 FICs from Germany, UK, Belgium, Sweden, Greece, Switzerland, Denmark, The Netherlands, Italy and Austria. Again, we examine how European FICs are managing as the crisis of war in Ukraine shows no sign of resolution.
We report the first Q1 results which, while generally positive, strike a cautious note about 2022 as a whole because of the war in Ukraine and the continuing affects from the pandemic. Responding to the war we again track FIC humanitarian actions to help those affected, support Ukrainian journalists and sponsor a medical mission to Kyiv.
Despite the current challenges, FICs continue to make new investments and acquisitions, this month in education, the app economy, healthcare, agriculture and agritech, real estate, technology, sustainable and consumer. Existing portfolio companies are supported by add-on acquisitions and further investment, while FIC flexibility is also demonstrated by the sale of a portfolio company and working with a PE partner to take another private. One FIC rewards two loyal, long-serving non-family executives with promotions. The importance of the FIC ‘Home’, a physical building or buildings, often in the family’s home-town, in supporting family unity, heritage and values is something we discuss in the First and Second Editions of our Report and this month we have an example of a FIC’s plan to transform its ‘Home’ (flexibility again) to support the FIC into the future – truly, changing to remain the same.
The News Briefing concludes with 15 practical Takeaways, our interpretations of what the news means for family investment companies.
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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