baskets new balance pas cher

chaussures new balance pas cher

chaussures new balance femme

chaussures new balance homme

chaussures new balance belgique

chaussures new balance trail

chaussures new balance enfant

chaussures new balance pour marathon

new balance 574 pas cher

new balance 410 pas cher

  • latvian
  • english

FLYCAP: EXPERIENCE AND CAPITAL FOR BOLD IDEAS

FlyCap Mezzanine Fund II

INVESTMENT
STRATEGY

OUR FOCUS
  • The focus of the fund is already established companies that have a revenue-earning business model
  • We look at the projects from various sectors & industries
  • We prefer environmentally friendly companies and projects that significantly reduce the CO2 footprint
  • We do not finance start-up companies without revenue and profits
FUND & INSTRUMENT
  • Fund size: MEUR 25
  • The fund will issue mezzanine loans
  • Advantage of mezzanine loan comparing to equity instruments is the fact that an entrepreneur is not required to dilute its shareholding as well as control over the company
  • We look at investments in companies from both Latvia and other EU countries
CONDITIONS
  • Loan amount from 1 - 3.75 MEUR
  • Term up to 5 years. The loan can be used for financing both CAPEX in fixed assets as well as working capital needs
  • The loan interest rate consists of a fixed rate plus bonus that depends on the financial performance of the company (e.g. from turnover or increase of EBITDA)
  • Mezzanine loan can be subordinated to the bank loan

INVESTMENT
CRITERIA

FINANCE & GROWTH
  • Positive cash flow covering senior debt and mezzanine repayments
  • Annual revenue exceed 1 MEUR
  • Sales has increased at least by 15% in the last closed financial year
  • EBITDA margin for the last closed financial year over 10%
  • Leverage ratio (DEBT/EBITDA) below 5x
PRODUCT & INDUSTRY
  • Company product or service has a clear and obvious competitive advantage
  • We prefer investments in the companies operating in a sectors with substantial entry barriers
  • High growth potential, also outside Latvia's borders
  • Loyal long-term customer base with regular, recurring purchases/orders
TEAM
  • Experience in the industry
  • Professionals with all necessary competencies on board
  • Excellent reputation
  • Full Time

INDUSTRIES

While we look at investments in different sectors, we prefer projects from the following sectors:
  • Healthcare
  • Business Services
  • Information technology (IT, hardware)
  • Innovative Export-oriented production
  • CleanTech
We do not finance projects from the following sectors:
  • Immoral industries (alcohol, tobacco, wagers, weapons)
  • Insurance and financial intermediation
  • Fisheries and aquaculture (primary production, not further processing)
  • Agricultural products and livestock farming (core product extraction)
  • Real Estate development
  • Companies in financial distress

FLYCAP VALUE ADDED: INVEST MONEY, TIME
AND KNOWLEDGE, HELP TO FIND BUSINESS CONTACTS
AND SHARE EXPERIENCE.

TURNOVER INCREASE
  • The company's strategy development
  • New clients, finding export markets (FlyCap have contacts abroad)
  • New product creation
  • Sales professionals evaluation and recruitment
  • Experience in Mergers and Acquisitions
  • Accounts receivable risk management and risk mitigation
  • Management motivation with bonus system
  • "Cross-selling", and "Affiliates" scheme development
PROFITABILITY INCREASE
  • Investment in the latest technology that increases productivity
  • Product profitability analysis, exclusion of unprofitable and non-strategic products
  • Pricing policy improvement, the introduction of higher mark-up where it is possible
  • Achievement of better conditions in the negotiations with customers and suppliers
  • Adoption of ISO and "lean management" standards in production process
  • Employees evaluation using KPIs and introduction of performance-linked compensation system
VALUE ‘MULTIPLE’ INCREASE
  • Corporate governance and the improvement of transparency increases the value of the company (the Fund role in the world has proven)
  • The company's turnover will increase and increase the competitiveness of the assessment factor (Multiple)
  • New product creation
  • Establishing of autonomous and self-sufficient business management and administration
  • Organizing the tender at the exit usually results in higher valuation multiple due to competition
EFFICIENT CAPITAL STRUCTURE
  • A higher proportion of credit financing structure at a reasonable EBITDA / credit payment indicator
  • FlyCap team has extensive experience in achieving better conditions with the banks in complex transactions
  • New product creation
  • Capital investments vs. rental decisions
  • Cash flow improvement due to effective management of working capital

FlyCap Investment Fund I INVESTMENTS

Equity investment
May, 2014

 

Mezzanine financing
May, 2014

 

Equity investment
September, 2014

 

 

Equity investment
October, 2014

 

Equity investment
November, 2014

 

Equity investment
November, 2014

 

 

Mezzanine financing
December, 2014

 

Convertible loan
Exited

 

Equity investment
January, 2015

 

 

Equity investment
January, 2015

 

Equity investment
March, 2015

Press release here

Equity investment
April, 2015

 

 

Mezzanine financing
May, 2015

Press release here

Equity investment
May 2015

 

Equity investment
August 2015

 

 

Equity investment
August 2015

 

Equity investment
March 2016

 

Equity investment
June 2016

 

 

Convertible debt
July 2016

 

Mezzanine financing
Exited

 

Equity investment
Exited

 

 

Convertible debt
October 2016

 

Convertible debt
October 2016

 


INVESTMENT
PROCESS

1
INVESTMENT
APPLICATION

Entrepreneur sends the Pitch presentation to info@FlyCap.lv or any of the FlyCap partners directly

2
FIRST
MEETING

After evaluating the application, FlyCap informs the entrepreneur of further steps. In case of confirmation, a meeting with management and shareholders is arranged.

3
LETTER OF
INTENT

After the first meeting, an analysis of the company and the transaction is performed. In case of successful results, an agreement of cooperation conditions is negotiated in form of a letter of intent.

4
DUE
DILIGENCE

An investigation of company’s financial, tax, legal and business position that takes 2-4 weeks, depending on information availability.

5
CLOSING
THE DEAL

During the due diligence, shareholder and investment contracts can be coordinated. If Due Diligence results in success, shareholder and investment contracts are signed and investment takes place.

6
BUSINESS
DEVELOPMENT

A member of FlyCap is elected in the company’s advisory or management board. FlyCap team contributes their time, contacts and expertise to help the company develop and increase its value.

7
EXIT

After 4-6 years FlyCap plans to sell the shares it owns. Potential exit paths are: company management, other shareholders, strategic investor, financial investor, IPO or other options.

TEAM

JANIS SKUTELIS

Partner. 5 years of experience in BaltCap, where Jānis managed 5 investment projects. Afterwards he invested and managed assets of private business angels. Janis has been actively involved in managing a portfolio with net worth of EUR 17 million, MSc. degree from Stockholm School of Economics (Sweden).

JANIS LIEPINS

Partner. 4 years of experience investing and managing assets of private individuals, involvement in 7 investment projects with net worth of EUR 15 million. Before that, 10 years of experience working in the banking sector. Executive MBA degree from Stockholm School of Economics.

GIRTS MILGRAVIS

Partner. 6 years of experience in consulting and managing investment transactions, involvement in more than 10 investment projects with net worth of more than EUR 14 million. MBA degree in finance from Riga Business School.

OLGA BAUMANE

Investment analyst. Market research, reporting to investors and FCMC, performing certain CFO functions for portfolio companies. Former experience: Banking & Capital Markets (Latvia); NATO HQ (Belgium). LL.M in Law & Finance, Riga Graduate School of Law.


CONTACTS

Janis Skutelis

+371 26 322 009
janis.skutelis@flycap.lv

Janis Liepins

+371 29 136 038
janis.liepins@flycap.lv

Girts Milgravis

+371 26 150 221
girts.milgravis@flycap.lv

15A Matrozu Str., Riga, LV-1010, Latvia

Copyright ©2019 FlyCap