PREDIREC Leasing Stratégique debt fund, launched in July 2014 by ACOFI and ChetWode, has recently deployed €24.4 million in support of three companies.
At the end of December 2016, the PREDIREC Leasing Stratégique fund completed its first Spanish operation for an amount greater than €6 million with a group specialising in the production of cardboard from recycled fibres, and a leader in this segment in Spain. Its products are primarily intended for the agri-food sector.
More recently, a sale and leaseback transaction in the amount of €6.3 million was set up on the French and Spanish production lines of the URSA Group. The URSA Group, a manufacturer of mineral wool and extruded polystyrene, is a major player on the European insulation market. In 2016, the company, whose head office is located in Madrid, recorded turnover of nearly €500 million for 13 production sites in 8 countries.
The PREDIREC Leasing Stratégique fund recently signed a second Spanish sale and leaseback transaction amounting to €12 million with the agri-food company Lacrem, a specialist in the production and sale of ice cream, cakes and pastries, particularly under its flagship brand ‘Farggi’. This operation also strengthens the fund’s portfolio with a second operation in the ‘Food & Beverage’ sector.
To date, the PREDIREC Leasing Stratégique fund has financed 16 companies in several European countries (France, Germany, Belgium and Spain), with operations in multiple sectors (automotive, paper, packaging, energy, steel, agri-food, etc.). Additional mid-market companies in the glass/tableware, steel and woodworking sectors, whose files are already being reviewed, should follow in the course of the year.
‘By supporting the growth and investment projects of SMEs and mid-market companies, the fund operates at the very core of the economic fabric and opens up opportunities for many industrial SMEs/mid-market companies in Europe,’ said Nolwenn Simon, Fund Director for ACOFI Gestion.