Best possibleterms &conditions
We develop and implement financing strategies for our MidCap (“Mittelstand”) customers, usually headquartered in the DACH region. Our customers are typically privately-owned or stock-listed companies with a long-standing operational history and track-record and revenues between EUR 100m and 2,500m, an EBITDA in excess of EUR 7.5m and / or overall financing requirements of at least EUR 20m, predominantly from the traditional German industries, such as, amongst others:
- Automotive supply
- Business services
- Construction & infrastructure
- Forestry, paper & packaging
- Industrial machinery & plant engineering
- Metals & materials
- TMT (technology, media & telecommunication)
- Transport & logistics
Over the last 15 years, FCF has gained vast experience and track-record, helping us to understand the challenges of our clients in their respective industries. We advise and support our clients’ management on all their financing requirements – from working capital, through growth, capex & investments, re-financings, acquisitions, etc. all the way to special financing situations such as management buy-outs / buy-ins and succession planning. We help designing the right investment or credit story in order to attract high interest from debt or equity providers in order to generate a competitive financing process and, hence, the best possible terms & conditions for our clients.
WHAT WE DO
While developing and implementing financing strategies and structures, FCF benefits from its widespread network, which aims to cover all financing providers targeting MidCap (“Mittelstand”) corporates within the DACH region. We furthermore advise on any financing instrument (and combination thereof) available to our target customers, including, amongst others:
Debt financing instruments / advisory
FCF has long-standing relationships with most commercial and business development banks addressing the German-speaking countries. We advise on any kind of bank loan facilities, such as bilateral loans, club deals syndicated loans, etc. Financing facilities may include short-term and long-term loans, e.g. for overdrafts, working capital requirements, borrowing base facilities, capital expenditures or investment facilities, growth financing, acquisitions and other corporate purposes. In addition to commercial bank financing, our experience also includes “subsidised” financings from business development banks such as, e.g. Kreditanstalt für Wiederaufbau (KfW) or European Investment Bank (EIB).
Leasing / Sale-and-lease-back: As an alternative for traditional capex / investment financing facilities, leasing has a long-established track-record and may be used by companies in addition to other mid- to long-term financing instruments. In addition to serving as a pure financing instruments, leasing – and especially sale-and-lease-back – can also be used to structure diversified financing strategies and improving the overall credit worthiness and rating.
Factoring / Reverse factoring / Inventory Financing / etc.: Especially for corporates within the manufacturing trade, efficient working capital management may be challenging. FCF advises and supports its clients in any kind of working capital financing, such as, inter alia, factoring, reverse factoring, inventory financing or borrowing base facilities.
Corporate bonds: To achieve a diversified base of both, financing instruments and financing providers, for corporates with larger financing requirements, capital market financing instruments, such as corporate bonds, promissory notes (“Schuldscheindarlehen”), or private placements may offer interesting options – either as an addition or as an alternative to the more traditional financing instruments.
Private lending facilities: While so-called debt funds used to predominantly invest in acquisition financings as well as lower-rated companies, today, such private lending facilities can be an alternative to bank financing also for corporates in the cross-over or lower investment grade sector. A vast number of private lending providers offer financing solutions for almost any kind of risk and rating profile, starting with senior secured (or, as the case may be, unsecured) facilities, participations in syndicated loans or club deals, through so-called stretched senior and unitranche financings, all the way to mezzanine and preferred-equity structures.
In certain situations where a typical senior financing may not be feasible or sufficient, FCF also advises on alternative or supplementary financing structures, such as, inter alia, second lien, subordinated or mezzanine financing. In some cases, this may in-clude near-equity instruments, such as quasi-equity / economic equity, preferred equity or convertible funding.
Equity financing instruments / advisory
Admittedly, in the German, predominantly family-owned corporate MidCap segment, capital increases from third parties (outside of the incumbent shareholder universe) do not exactly occur very often. However, especially in growth or acquisition cases (amongst others), a capital increase might just do the trick. FCF advises on both, minority and majority investments from private equity, family offices / high-net-worth individuals as well as strategic investors.
Based on the right business case, strategy and equity story, an Initial Public Offering (IPO) can support the required financing. FCF supports its customers in the preparation and execution of IPOs, advising regarding the feasibility, timing, structuring, placement and management of the IPO process as well as regarding investment bank and investor selection. Through its extensive network, FCF accompanies its clients not only regarding IPOs in Germany, but also in other European countries as well as the US.
An incumbent shareholder would like to sell its investment – in full or in part? FCF advises on block trades, including the search for and placement of shares to new investors, regardless of whether it is a new minority or majority shareholder.
FACTS & FIGURES
investment banking professionals with 100+ years of experience
Extensive Network of
financing providers with excess to senior decision makers
In excess of
total transaction volume advised by FCF
completed transactions in 15 years
periodically updated research reports
€ 20 million
Doppstadt Familienholding GmbH
€ 80 million
KMP Holding GmbH
Ziegler Holzindustrie GmbH & Co. KG
€ 70 million
Schnellecke Group AG & Co. KG
€ 55 million
SMALLCAP / MIDCAP RESEARCH SERIES
The FCF SmallCap / MidCap research reports are periodically updated and cover eight specific sectors as well as certain general capital market developments. Based on the data of publicly listed European corporates, the respective sector and market are individually analyzed. Our systematic analyses include information to, amongst others:
Automotive Supplier Market Study Research on the automotive supplier sector based on available data from European automotive suppliers.
European Chemicals Market Study
Research on the chemicals sector based on available data from European chemical companies.
Forestry, Paper and Packaging Market Study Research on the forestry, paper and packaging sector based on available data from European forestry, paper and packaging companies.
Industrial Machinery Market StudyResearch on the industrial machinery sector based on available data from European industrial machinery companies.
Metals & Materials Market Study
Research on the metals & materials sector based on available data from European metals & materials producers.
Logistics & Transportation Market StudyResearch on the logistics and transport sector based on publicly available data from European logistics and transportation providers.
European Infrastructure & Construction Market StudyResearch on the logistics and transport sector based on publicly available data from European logistics and transportation providers.
Bank Monitor Analysis of the historic and current spreads of credit default swaps for banks most active in the German corporate lending market.
IPO Market MonitorProviding relevant valuation metrics (e.g. ratios, multiples), general information and performance data of European IPOs that have been issued within the last six months.
Valuation MonitorThe FCF Valuation Monitor is a comprehensive quarterly valuation analysis (e.g. ratios and multiples) for the German small / midcap market segment of selected industry sectors.
Credit MonitorComprehensive analysis of the interest rate environment and loan market for corporates in Germany.
NEWS & PRESS
FCF Fox Corporate Finance GmbH is delighted to publish the new “FCF European Infrastructure & Construction Market Study – 2020”. Based on available data from European infrastructure and construction companies, the FCF Infrastructure & Construction