Our forty-ninth edition email tracks recent news concerning European FICs, featuring 20 FICs from France, Sweden, Finland, Denmark, Germany, Belgium, Norway, The Netherlands and Italy
Some more 2023 results, as last month some are good, some mixed and some less good.
Only three exits this edition. A listed FIC sells a stake in a listed portfolio company. Another FIC sells two separate medtech companies, both to industry buyers, not investors or PE. Portfolio companies make add-on acquisitions in logistics and metals, both in order to expand geographically. Another FIC buys back a stake held by PE for seven years. A FIC invests in an energy storage while three investment arms invest in biotech, medtech and a US manufacturing business.
In people news, succession stories at two FICs – one from father to son and the other grandfather to grandson. A long-standing non-family executive is promoted to CEO and external non-family talent is brought in to fill NED roles.
A FIC owned by a major Nordic family wins, as part of a JV, the auction to develop a new wind farm.
And we close, as is now our custom, with a summary of the month’s news coverage.
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