Financial investor is not equal to financial investor - middle class prefers Mezzanine financings

(openPR) - apparent still Nachwehen „of the grasshopper discussion are “in the middle class noticeable. A current study of the German industrie and Chamber of Commerce daily (DIHK) according to approximately three quarters of all German enterprises a Investment reject private Equity on the part of societies. Even if the enterprise should be in a financing crisis.

„The industry does not create it to loose-will their bad image with the middle class and recover the confidence, “so economics and tax attorney Björn Katzorke of Dr. Werner, Dr. Gündel specialized in mezzanine participation models & Collegen attorney company ltd. from Goettingen. This does not surprise. Thus the holding companies get involved other say nevertheless usually only in a Investment against Mehrheitsbetiligungen or to expect in the enterprise. „The entrepreneur loses his sovereignty. And it, “continues to state Katzorke does not please. The study occupies this. Investors, who take part by means of quiet participation in their enterprise, prefer approximately 20 per cent of the asked Mittelständler. Quiet participation ranks among the Mezzanine capital. Here a say can be excluded as far as possible.

„For the medium-size entrepreneurs it is to be remained enormously important, far own gentleman in the house. By the flexible arrangement modalities of Mezzanine capital this is also possible. Further the participation in the balance can be booked as own capital funds and counted the payments for taxation not as distributions of profits, but as expenditure. Mezzanine capital connects thus the advantages of own capital funds with those from outside capital, “brings to Katzorke the characteristics of Mezzanine capital on the point.

Such a success project for enterprises and investor is the bonus share mission of the closing system engineering manufacturer ECO trained GmbH & CO. Kg from Menden. The medium-size enterprise could pay a dividend of on the average 12% on the bonus share owners of the first participation round 2005. In the point even 14% are prognosticated. Faithfully the Mezzanine slogan „capital against net yield “used the ECO trained GmbH & CO. Kg the flowed capital profitably for investments. As pleasant side effect the improved balance structure led to a positive Rating. The enterprise is classified by the Rating services AG in the Investment of degrees. With the new security folder the Mittelständler offers further bonus shares. Thus the exempt private company, which can look back on one altogether 75-jährige tradition, wants to remove its business further at home and abroad.

Mezzanine financings offer the suitable possibility to the principal Mittelständler of each business size of improving its balance and concomitantly his position at the market. This recognized the middle class and the restraint in relation to this financing form shrinks. Whether from it also the private Equity societies and financial investor can profit, appears questionable. „To it they would have to probably change your philosophy, “resumiert for Katzorke.

Dr. Werner, Dr. Gündel & Collegen
Attorney company ltd.
Theatre place 9
D-37073 Goettingen

Partner:
RA Björn Katzorke
Tel.: 0551/4 43 43
Fax: 0551/4 43 30
info@eigenkapitalbeschaffung.de
www.eigenkapitalbeschaffung.de

Since 1981 have Dr. Werner, Dr. Gündel & Collegen attorney company ltd. accompanies more than 600 medium-size enterprises to the capital markets led, with M&A transactions accompanied and during the procurement of capital a volume of over euro 5.5 billion cared for and advisory.

Apart from the consultation with the most diverse financing solutions the power spectrum of the Kanzlei covers also reorganization and structuring as well as consultation with all questions of the financial service right (right to distribute, liability law, permission as Finanzdienstleistungsinstitut) as well as consultation, support and agency with affairs before the Federal Institution for supervision of financial service (BaFin).

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