Compagnie Maritime CHAMBON needed funds quickly, as they had the opportunity to purchase a tug to fulfil towage contracts alongside other vessels in the ports of Calais and Boulogne Sur Mer. To secure the €5.5m purchase, they needed to make an initial deposit quickly.
To raise this sum, Chetwode arranged 6 months’ bridging finance from Fedgroup, secured by a maritime mortgage on another tug in New Caledonia. DCompagnie Maritime CHAMBON has now extended its initial €1.8m loan, supplemented by a second tranche of €1.2m, to reach a new long-term financing of €3m. To this end, a second of the group’s tugs has been pledged as collateral via another maritime mortgage.
“We were pleased with the first tranche of funding provided by Chetwode in the summer of 2024. That’s why we asked them to extend the financing”, comments Pierre Dumon, CFO of Compagnie Maritime CHAMBON.
“As part of Fedgroup’s expansion in Europe, we are delighted to have been able to work with such interesting clients as the Chambon Group. We are particularly pleased to support the strengthening of this family business, whose values are fully in line with those of Fedgroup” stresses Greg Goeller of Fedgroup, Partner Alternative Asset Management.
Simon Hamilton, co-founder and director of Chetwode, added: “We are delighted to be supporting Maritime Chambon in the acquisition of their new tugs. We arranged 6 months bridging finance from Fedgroup and were able to step in quickly to support them in raising the necessary finance, enabling them to fulfil their towing contract as quickly as possible.”
