Finatem Announces the First Closing of Finatem III at € 120 million
Finatem, one of Germany's established, independent private equity firms in the German midmarket, announces the first closing of Finatem III at € 120 million. This represents 80% of its target size of €150 million and equals the size of its previous fund, Finatem II, which is now fully invested. Most investors are European institutional investors and German family offices.
Christophe Hemmerle, Managing Partner of Finatem, said: "As we all know, 2009 was a difficult year in which we concentrated on working very closely with our portfolio companies. Despite the market challenges, our portfolio is performing well. We are pleased with the strong support shown by our existing investor base and that we are able to attract well-regarded new institutional and private investors. At a time when investors are highly selective and capital is so limited, we regard holding such a strong first closing in the current market as considerable proof of investor confidence."
This fund will continue Finatem's successful strategy of acquiring majority stakes in buy-outs of German small and medium-sized enterprises (SMEs) focussing on enterprise values worth between EUR 20 million and 50 million and sales worth between EUR 25 million and 125 million that have clear potential for organic growth and acquisitions the 'hidden champions' of small and medium-sized enterprises.
Established in 2000 and now wholly partner-owned, Finatem has a stable team with a unique combination of investment professionals and industry experts. To date, the team has completed 11 platform acquisitions, 7 add-on investments and 5 realisations, with no write-offs. The remaining companies in the Finatem II portfolio are performing particularly well due to the quality of their assets and the companies' ability to react quickly and adapt to the adverse market conditions.
SJ Berwin advises Finatem on legal and tax matters.
For further information, please contact:
Managing Director and Founding Partner