Undisclosed

January 2022

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Condor Group

Financing options analysis focused on the investment agenda

  • Condor Group is a family business based in Hasselt and is one of the largest carpet producers in Europe with an annual production of over 130mln m2 of textile floor coverings;
  • In view of Condor Group's substantial investment agenda and the resulting financing needs, Avaxa has at the request of Condor Group explored a number of financing options, whereby we made, amongst other things, a thorough analysis of the financial model, working capital and collateral available;
  • The advantages and disadvantages of several possible financing structures were identified. This resulted in Avaxa advising on the optimal and most ‘future proof’ structure and how to best obtain it from the market ('go to market’); and
  • Our analysis and advice has been incorporated in a so-called decision document with which Condor Group was able to internally discuss the most desirable option and on the basis of which decision-making by the Supervisory Board and management took place.