Our thirty-second, extended double-edition update email tracks recent actions and news concerning European Family Investment Companies (FICs). This Edition contains items featuring 31 FICs from Belgium, Germany, Norway, Portugal, Bermuda, France, Sweden, Greece, The Netherlands, Denmark, UK, and Italy. Again, we examine how European FICs are managing as we head into the autumn.
Many FICs have been busy posting their second half results, which are mixed. Some continue to post record revenues and profits, others show declines. However, all remain active, acknowledging openly the challenges – energy crisis, inflation, supply chain blockages, pandemic fall-out, war in Ukraine – they face while retaining faith that the diversified, flexible, liquid FIC model will not only provide resilience in coming months but enable them to emerge stronger.
Even with these challenges, FICs continue to invest, this month in healthtech, tech, energy, pet care, windtech, recycling, F&B, apparel and two in new, plant-based foodtech businesses. Porfolio companies continue to be supported as they in turn make acquisitions, raise funds and win contracts. The flexibility of the FIC Model is again shown by FICs selling portfolio companies, some owned for many decades, changing listing arrangements and entering into strategic partnerships. One FIC raised funds in the bond market while another takes a minority stake in a fellow FIC, an addition to a number of FICs investing alongside each other. And a startup which has spun out of a FIC’s in-house incubator is backed with further investment.
FICs bring in outside talent to strengthen executive teams and boards, including the appointment of a prominent banker as a non-exec.
The News Briefing concludes with 18 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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