As we celebrate the third anniversary of our EFIC News Briefing, and in the spirit of changing to remain the same, we are making two improvements. First, we are increasing the number of Family Investment Companies (FICs) we track. Over the coming months we will add FICs who will be appearing for the first time as named examples in our forthcoming Second Edition of The European Family Investment Company Report. Secondly, we will now close the News Briefing with a practical summary of the month’s news coverage, classified under key headings.
Our thirty-ninth update email tracks recent actions and news concerning European FICs, featuring 20 FICs from The Netherlands, Hong Kong, Italy, Germany, Belgium, Norway, France, Sweden, Denmark, Finland and Luxembourg.
The 2022 Annual Results reporting season is now in full swing and we discuss those from seven FICs. Most have positive numbers from last year but many flag up the difficult current environment and its likely negative impact on performance this year. Along with its results, one FIC announces some ‘new strategic directions’ including the ambition to growth an asset management business with outside money.
Portfolio companies dominate transactions this month, parent FICs supporting them to make acquisitions across sectors such as real estate, consultancy, F&B, drones and merchandising, while one sells a portfolio business to an Asian industrial. One portfolio company reportedly puts its IPO on hold (another reflection of market and business uncertainty) and another enters into a JV to make a major installation of solar panels on a warehouse. Elsewhere FICs invest in fund and data businesses, issues a bond and one enters, via an acquisition, into the fashionable pet food and supplies market for the first time.
In history and heritage, one FIC celebrates its 140th anniversary while another moves into a new 16th century home.
NOTE: EFIC News Briefing is sent to subscribers to The European Family Investment Company Report, members of our Advisory Network and selected others at our discretion. We are happy to answer any questions or discuss anything further. Please do send us your comments, ideas and suggestions and any news stories you see.
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