Dedicated to industrial financing, the PREDIREC Leasing Stratégique fund is the outcome of a partnership between Acofi, forerunner in the creation and management of lending funds to the real economy and Chetwode, European specialist in industrial asset financing.
The 100M€ financing threshold was reached with Saint Jean Industries, an automotive equipment manufacturer, with the implementation of a 15,8M€ sale and leaseback transaction.
Overall, more than 200 M€ were raised from institutional investors by the PREDIREC Leasing Stratégique fund, through two closings, in summer 2014 and early 2015.
With transactions between 5 and 25M€, the PREDIREC Leasing Stratégique fund is fully dedicated to the financing of industrial assets for SMEs and intermediate size companies. The investment strategy put in place allows the fund to offer financing solutions to companies facing complex situations, through the valuation and purchase of their production equipment. By supporting the development projects of SMEs and intermediate size companies, the PREDIREC Leasing Stratégique fund is at the very heart of the fabric of the economy and opens up new possibilities to many European SMEs and intermediate size companies, allowing them to use their production equipment as a real tool for growth.
According to Nolwenn Simon, Manager of the PREDIREC Leasing Stratégique fund for Acofi Gestion, « this success relies on a know-how combining solid technical skills in debt fund management and a recognized expertise in the field of strategic industrial equipment leasing. This know-how provides additional security to the collateral and allows the fund to reach a very attractive return/risk ratio over a short period of time».
Jean-Baptiste Magnen, Chetwode President explains: « relying on the fundamentals of financial analysis, the PREDIREC Leasing Stratégique fund is characterized by an original approach centred on the valuation of the purchased industrial assets treated as collateral and a sound knowledge of the company’s business model. The credit risk is specifically protected by a perfectly well maintained industrial asset due to its strategic nature, remarketable on specific secondary markets and with low obsolescence».
As of today, the PREDIREC Leasing Stratégique fund has financed 10 companies, present in several European countries (including France, Germany, Belgium) and operating in different industry sectors (automotive, paper products, packaging, energy amongst others). These companies should be joined in the first half of 2016 by ten other companies from the food processing, textile and energy industries which are already under analysis.
