The FCDE finances the recovery and development of SMEs that have strong potential. A trusted and long term investor, the FCDE increases the value and strengthens the shareholder base of the companies in which it invests, stabilises their corporate governance and facilitates relations with their banking partners. The FCDE intervenes first and foremost with companies that have this profile and have been identified by the Médiation du Crédit.
Conversely, companies with structural difficulties requiring heavy social and industrial restructuring for possible recovery (operations known as “turnaround investment”) are not the field of the FCDE. These companies, whose difficulties are structural and not linked to the present economic climate, can only be financed by the FCDE once their turnaround is already underway. In this respect, the FCDE does not invest in the context of receivership proceedings.
The FCDE invests in independent SMEs, unlisted companies, whose turnover is between €20m and 200m and whose financial situation shows at least one profitable fiscal year during the last three years.
The FCDE can intervene alone but whenever possible in co-investment with other investors. It is in a position of a minority shareholder at the start. A financial stake from existing shareholders and managers is systematically sought.
An investment stake is a minimum of €3m and a maximum of €15m. The investment maturity is between 5 and 7 years.
The FCDE is involved in the corporate governance of the companies in which it invests.
RECENT DEALS » All Deals
- FCDE and UI Gestion invest in ASI Innovation, an aeronautical group specialized in mission systems, cabin design and avionics (18/6/2015)
- FCDE closes new special situations fund at €200M (in French) (17/6/2015)
- FCDE in exclusive discussion with PSB Industries for the sale of Groupe Plastibell, a manufacturer of technical plastic parts (in French) (20/2/2015)
- The Imprimerie Nationale Group acquires Smart Packaging Solution, a manufacturer of electronic components for smart cards, from FCDE (in French) (14/5/2014)
- The FCDE has invested 11m in the De Fursac group. (2/4/2012)