SYNTECH INTERNATIONAL B.V.
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Syntech International B.V. is part of the Syntech Group. The group - more commonly referred to as Royal Kusters Engeneering - is based in Venlo and dates back to 1911. IT has a long history in recycling equipment. From that is has evolved into a manufacturer of custom-desigined bank note disintegration systems, coin crushing sytems and high security media destruction systems. The beneficiary of the FOM funds, Logicash Solutions, is a subisidairy of the Syntech Group. Logicash Solutions provides cash management services to customers in the banking, financial services, insurance and retail sector. An example is the (re)filling of ATMs and valuables transport.
What is our funding objective?
Logicash is currently operating in 15 cities in India and wants to exepand to 60 cities in the coming two years. FMO will provide a loan of EUR 1 mln to support Logicash in refurbishing cars and building additional cash centers.
Why do we fund this investment?
Long-term funding for foreign subsidiaries of Dutch SMEs is difficult to obtain, both from commercial banks, which are generally unwilling to finance their activities in India, and from local Indian banks, which will not provide long-term funding. FMO is therefore filling a funding gap with this transaction, and thus supporting this company in its growth ambitions.
More investments
| Date | Total FMO financing |
|---|---|
| 12/23/2019 | EUR 2.00 MLN |
- Region
- Asia
- Country
- India
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 6/23/2014
- End date
- 9/5/2017
- Total FMO financing
- EUR 1.00 MLN
- Funding
- Fund Emerging Markets
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B