FINSCAFF
your finance solution
APRIL 2022
PARIS - With its Predirec ABL-2 collateralised corporate finance fund, Acofi Gestion announces the conclusion of a financing transaction for the Afix Group, enabling the creation of Finscaff, the group's financing vehicle. This transaction, with an initial amount of €5 million, is intended to finance a stock of scaffolding produced by Afix Group and rented from its customer network. The transaction was arranged by PrivateLending, the Belgian platform specialising in alternative financing.
AFIX GROUP
Afix is a vertically integrated group that manufactures, sells and rents a wide range of scaffolding parts and structures for diversified sectors such as construction and public works, industry, shipbuilding and events.
As a complete scaffolding supplier, Afix Group offers customers top quality multidirectional scaffolding for sale and rental, as well as scaffolding services including engineering, project management, financing and erection.
ACOFI
The Predirec ABL-2 fund, launched in 2017 and with €253m in commitments, finances European SMEs/ETIs that are poorly or not at all financed by banks by setting up financing backed by company assets (machinery, inventory, real estate, etc.) and is completing its deployment.
Its successor, Predirec ABL-3, launched in 2022 and targeting €350M in commitments, takes up this investment strategy by integrating a sustainable, quantified and controlled "impact" approach thanks to the implementation of incentive clauses.
Laurence Choisy Lemesle, Manager of the Predirec ABL-2 fund: "We are delighted with the implementation of this new financing, the first captive financing in three jurisdictions (Belgium, the Netherlands and France), which will support the development of Afix Group, a fast-growing European company. This financing is fully in line with the strategy to foster the industry in European territories".
Koen de Potter, Chief Financial Officer: "We are very pleased with the completion of this transaction, which was made possible by a suitable legal structure and the expertise of the Acofi and PrivateLending teams. This financing package will allow us to rapidly deploy our leasing offer in the Netherlands and our operational leasing offer in Belgium and France. In addition to a wide range of metric and non-metric scaffolding, our customers now have access to a full range of complementary services from project management and scaffolding engineering to financing."
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