January 18, 2019
The National Stock Market Commission has authorized the modification of Talde’s programme of activities, which will allow the Private Equity Company to incorporate new ways to manage its investments. Specifically, this new scenario will allow the management of FILPE (European Long Term Investment Fund) ruled by the 2015/760 Regulation of the European Parliament, as well as the Marketing activity from private equity companies to non-professional investors according to the 75.2 article of Law 22/2014.
Within its strategy to expand its financial product offer to companies, Talde has launched a Debt Fund called Talde Deuda Alternativa, FILPE, aimed at the granting of financing to SMEs with a view to boost their development, making complementary or alternative instruments available to companies for their business financing. In order to manage a FILPE (European Long Term Investment Fund), Talde has obtained the authorization of the National Stock Market Commission to expand its programme of activities, which implies the adaptation of the managing entity in order to meet more demanding necessary requirements in accordance with the applicable regulations.
The new FILPE, with a target amount of €100M, will support european SMEs lead by a committed management team and with a consistent generation of cash, in their growth and consolidation stage, through the granting of financing (Senior, subordinated and convertible debt, participative or hybrid loans, in terms ranging from 5 to 7 years). Special support will be given to companies that need financing to carry out acquisition opportunities of other companies allowing a sectoral consolidation or to those companies with investment plans that favor the international development of their activity.
Additionally, the fund will provide a financing alternative for companies that have a particular shareholding structure not willing to change it, like the world of cooperatives, that do not want to give access to their capital structure to an external shareholder or that do not want to be subject to the so common drag along agreements in the exit of Private Equity Funds. The Fund will grant funding to 7 to 12 companies with an amount ranging from 5 to 15 million euros for each.
The decision of the National Stock Market Commission regarding the authorization to market Talde’s products to non-professional investors, is something especially interesting for particular investors from Biscay and Alava, as it will be constituted in accordance with the recently approved fiscal regulations.
Since November 2015, Talde has two vehicles in the investment phase to enter the capital of SMEs: the longstanding vehicle, Talde Promoción y Desarrollo, S.C.R., S.A., and the new fund, Talde Capital Crecimiento, F.C.R., with joint resources exceeding €135 million.
Founded in 1976, it is a private group pioneering in venture capital management in Spain. The group has taken part in over 160 investment projects, where it has given support in both their initial steps and their consolidation and expansion phase, in industrial and services sectors. In 2016, it celebrated its 40th anniversary.
Investees of Talde
Currently, Talde Group has among its invested companies firms such as Tegor Group (manufacturer of products of natural medicine, aesthetics, pharmacy and dietetics), AIT (acoustic sound insulation for cars), Burdinberri (manufacture of construction elements and tools for the aeronautical sector), Rotecna (design, production and marketing of plastic products applied to the equipment of pig farms), Deltalab (manufacture and marketing of laboratory perishable materials), Ñaming (a leading company in Spain in the preparation and distribution of ready-to-eat food – sandwiches, snacks, etc.), and Residencias Nostem (exploitation and management of two nursing homes and two adult day-care centres in the Basque Country).
Through its latest fund, already totally/completely disinvested, Talde has taken part in companies such as Retineo (Engineering and Construction), Neo Group (Telecommunications), BC Group (BPO), Noa Visual Group (Visual Merchandising) or Palacios Group, (Feeding).