Our fifty-sixth edition tracks recent news concerning European FICs, featuring 20 from Hong Kong, Portugal, Sweden, France, Belgium, Germany, UK, Bermuda, Denmark, Italy and Norway.
Portfolio companies feature strongly this edition, making acquisitions in manufacturing, TV, security and ‘locationtech.’ Investment arms are also active, backing companies in food, digital health and solar. And two FICs invest directly, one in a biorefinery and another in a local soccer team. Only one exit, as a concession in South America is sold.
Two FICs raise money in the bond market, one for the first time in its 90+ year history. And a portfolio company secures a line of credit to support a sustainable infrastructure project.
In business news, Q3 reports from seven FICs, two negative, the rest positive. One reports a clutch of contract wins, another a major distribution deal and a third submits plans for a large solar farm.
With human capital, a FIC throws a party for almost 100 employees celebrating between 25 and 50 years’ service. Another loses a CEO after a much shorter time in post.
Finally, a significant Nordic FIC announces a restructuring designed to ‘support future generations being active owners.’
In this final edition of 2024, we wish all our readers a Happy Christmas and Peaceful New Year.
Our news team is taking a break over the holidays – the next EFIC News Briefing will be in February.
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