Innovis: nice track with funding from PMV
Finding the right structure to finance the acquisition was a daunting task, but it worked out.
Tim Lievens, senior investment manager at PMV
There is no need to have a financial background to successfully take over a company. Tom Hochepied proves it: with a background in sales & marketing, he is steering cleaning products distributor Innovis down a bright path. Thanks to PMV’s financing intervention, the ambitious entrepreneur was able to realise his dream.
Things are going well for Innovis. The company is experiencing strong growth with nice margins and increasing employment since it was bought by Tom Hochepied and Jürgen Ingels. Since 2005, the company has been distributing cleaning and maintenance products for the hotel and catering industry in Belgium under the DIPP brand. This niche approach is a hit: there are hardly any competitors approaching the national market through specialised wholesalers while the focus on hygiene and food safety is only increasing.
Financial puzzle
With a background in marketing & sales, Hochepied saw opportunities to grow the business: cross-selling, innovation, bigger sales outside Belgium and even outside Europe, new niches, a consumer range… Although his own contribution was limited, Hochepied managed to buy the company. Supplemented by subordinated capital from PMV, among others, a loan for its own capital contribution, a vendor loan and bank financing via a PMV guarantee, the financial puzzle was put together.
Structure
“Finding the right structure to finance the acquisition was quite a task, but we succeeded. The complicated structure is the result of a thorough financial analysis. We are pleased to have been able to give a driven manager the opportunity to realise the acquisition of a profitable and strongly growing company,” said Tim Lievens, senior investment manager at PMV.
Visit the website of Innovis
