Our thirty-third, update email tracks recent actions and news concerning European Family Investment Companies (FICs). This Edition contains items featuring 18 FICs from Belgium, Italy, Germany, The Netherlands, Finland, UK, Denmark, Sweden, France and Hong Kong. Again, we examine how European FICs are managing as we head into the autumn.
This month sees two new CEOs. At a formerly listed UK FIC, the family Chairman steps up to take on the CEO’s role as well. And at a major listed French FIC, outside talent is recruited as their new chief executive.
More new investments are announced, with FIC ‘Disruptech Investment Arms/DIAs‘ especially active (see The European Family Investment Company Report: First Edition, Section 9.1), in fintech, medtech, foodtech, medtech, fintech, detection tech and eye wear. Portfolio companies continue to be supported, with one FIC increasing its stake by 10% while bringing in new investors and another backing a rights issue. FIC Model flexibility is shown by two FICs merging portfolio companies to form larger businesses. Other FICs report H1 results, market a micro electric car online and find an industrial partner to develop new products. FICs continue to show responsibility by making substantial donations for the education of Ukrainian children and helping employees faced with the spiralling cost of living.
Finally, in a move bringing together several strands of the FIC Model – long-termism, support units, the importance of the physical home, history and heritage – a multi-million Euro innovation centre is launched in a FIC’s hometown to foster creativity and new product development.
The News Briefing concludes with 17 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 demanding 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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