Transics increases financial resources by EUR 7 million
Transics, the technology company specialising in telematics solutions for commercial vehicles for transport, logistics and services organisations, has just completed a capital increase of EUR 5 million. In addition, Dexia (Belgium) and Crédit du Nord (France) confirm their trust in Transics by extending extra credits.
EUR 5 million capital increase
Transics has carried out a EUR 5 million capital increase, consisting of a current capital injection of EUR 4 million from all its existing shareholders, i.e. Creafund, ABN-AMRO Capital Investments Belgium, Rendex, TrustCapital Technology and Stroke Fund, with the exception of FLV Fund, and a convertible loan of EUR 1 million subscribed to by the Management. "We will use the fresh capital in the first place to pay back the bridging credit granted earlier by the Barroo Group. In addition, the available credits should provide the company with the necessary 'oxygen' to continue its steady growth", said Ludwig Lemenu, managing director of Transics. ABN-AMRO Capital Investments Belgium, Creafund and Rendex increase their respective shares in Transics. By this capital increase Transics achieves an optimal capital structure, thereby reinforcing the conviction of leading fleet owners to choose Transics.
Crédit du Nord and Dexia believe in Transics
Encouraged by the recent expansion of its business, Transics has entered into formal agreements with Dexia and Crédit du Nord for additional operational credits worth EUR 2 million. Over the last three quarters, Transics has surpassed its breakeven point and its cash flow has turned positive. "Hard on the heels of the mega-contract concluded with the French Transalliance company (worth EUR 5 million and involving over 2 000 trucks) we are currently negotiating with almost all leading European fleet owners. We believe that telematics for them, too, will soon be regarded as the key to increasing productivity and the level of service towards their customers, on the one hand, and to cutting operating costs, on the other. In other words, these parties are looking for a reliable partner that offers long-term continuity in the key areas of product development and customer service", underlined Walter Mastelinck, managing director of Transics.
Transics SA develops and commercialises on board computers, transport administration software and telematics solutions for commercial vehicles for transport, logistics and services organisation. Transics NV employs 90 people and is the largest company in its sector. Headquartered in Ieper (Belgium), Transics NV has offices in the Netherlands and France and is also active in Luxemburg, Germany, Sweden and Spain. The company is permanently expanding its European organisation.
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