Our sixtieth edition tracks recent news concerning European FICs, featuring 30 from Portugal, UK, Belgium, the Netherlands, Bermuda, Denmark, Norway, France, Germany, Italy, Sweden, Norway, Poland and Finland.
This month we have a flurry of people announcements. Four FICs appoint new, non-family CEOs, three from outside and one internal candidate. Another non-family member returns to a FIC he used to work for as CFO. And a non-family NED is promoted to the FIC main board.
Also a busy period for transactions. FICs and their portfolio companies acquire fashion and software business. Investments, new and follow-ons, are made in food, events, software, foodtech, fintech, AI, wealth management and data. Meanwhile FICs and their subsidiaries sell, either wholly or partially, companies in energy, software (to another FIC), manufacturing, maintenance and port operations. One FIC closes a new fund while the PE arm of another issues a bond.
In business news, one FIC re-organises after a major acquisition and another opens a new office in a target market. And two FICs venture in AI – one as part of a consortium to build new AI infrastructure and one launches an ‘AI factory.’
The reporting season continues with three 2024 annual reports and four FICs posting Q1 numbers. Mixed as before – down, flat and up.
Contrasting with the new, two FICs celebrate anniversaries. A 75th celebration of the founding of the heritage business and the 90th birthday of the 2nd generation leader. Finally, one FIC leader, ‘only‘ in post for 30 years, is honoured by his country.
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