Vermeer Capital, a new French turnaround firm focused on small and mid-sized companies, has held a EUR 75 million first close on its debut fund. A final close on EUR 90 million in expected within the next three months.
After only 7 months of fundraising, Vermeer Capital realised the first closing of its fund at EUR 75 million. Investors in the FCPR vehicle are institutional investors like fund-of-funds (55%), high net-worth entrepreneurs (35%), and the management team (10%). The fund will realise within the next 3 months a final closing at EUR 90 millions.
Vermeer Capital invests in Small and Medium sized French companies (“SMEs”) in turnaround situations (loss-making businesses, distressed LBOs, shareholders conflicts, etc.). As control is the key success factor in turnaround processes Vermeer Capital only takes majority positions in its target companies.
Vermeer Capital is one of the first turnaround funds in France who is structured as an independent institutional player. The management company is regulated and approved by the French Financial Market Authority (AMF), and has an independent investment committee which enables a fast decision process.
Vermeer Capital gathers a team of specialists of turnaround with strong and complementary track records. Built on a balance between entrepreneurial know-how and financial skills, Vermeer Capital aims to be an investor with hands-on involvement in the turnaround process (crisis management, difficult negotiations, re-motivation of teams, etc.). The management team:
Jean-Louis Detry, President and Founder of Vermeer Capital, has led several successful turnarounds including Disques Vogue (first independent French record company), and Datacine Group (cinema post-production industries bought-out from Vivendi Universal). He recently led the turnaround of L