Our fifty-eighth edition tracks recent news concerning European FICs, featuring 20 from France, Germany, Hong Kong, Belgium, Spain, Italy, Denmark, Norway, Sweden, The Netherlands, UK and Finland.
In transaction news, portfolio companies add to their portfolios by acquiring companies in food production and thermal equipment manufacturing. Meanwhile FICs and their investment arms deploy capital in agtech, software, leisure, medtech, online education, infrastructure and logistics, and one invests in a real estate impact fund. In exits, major FICs sell stakes in listed investee companies and another sells a substantial real estate holding. Interestingly, both acquisitions and one investment are in US companies – a strategy to avoid new tariffs?
The 2024 annual reporting season has started and we discuss five FICs this month. The record-breaking results in the immediate aftermath of Covid appear to be a thing of the past, with three of the five reporting distinctly challenged profits, or indeed losses in one instance.
One item of business news, as a FIC re-packages a group of complementary businesses under a single brand.
Contrasting people news. One FIC makes three senior appointments, of Chair, CEO and CFO all with long-standing non-family employees. While one recruits outside from PE to fill a C-suite seat.
Finally, two FICs celebrate anniversaries of the founding of their heritage businesses, one the 170th and the other 130th.
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