Our fifty-third, special post-summer, extended-edition email tracks recent news concerning European FICs, featuring 30 FICs from Singapore, Belgium, Germany, Finland, Estonia, Sweden, Denmark, Poland, UK, Norway, Luxembourg, Switzerland, France, Italy and Bermuda.
Our universe of FICs has not been idle over the summer.
We cover eight acquisitions, nine investments and three exits, directly by FICs as well as from their portfolio companies and investment arms.
Four transactions are to do with vehicles and transport, with FICs acquiring and investing in businesses in vehicletech, parking businesses, tyre management and leasing. This theme of seeking out ‘ordinary’ businesses is also reflected in transactions in areas such as homeware, elevators, chemicals and gas detection. A vocational education business was bought from the PE arm of a fellow FIC, while another FIC acquired a conglomerate to open up a new geographic market. Exits were in fashion, kitchens and lighting.
‘Disruptech’ was not, however, totally ignored. Businesses in IT and energytech were acquired, and investments made in biopharma, healthtech, digital, more energytech and, inevitably, AI.
The end of the summer and the start of the new academic year brought a slew of people announcements. Long-standing non-family executives were rewarded with senior promotions. One FIC appointed its first non-family non-exec board members. A major private FIC announced its new non-family CEO. And there were two senior non-family executive departures, one staying on in an advisory and non-exec capacity.
On the reporting front FICs have been busy with their H1 numbers and we cover seven here.
In business news, we discuss two FICs entering into new JVs, both with other family businesses.
Finally, a large private FIC celebrates its 75th anniversary, with a date already set for the current boss, the son of the founder, to hand over to his son so assuring succession into the 3rd generation.
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