As a division of Chargeurs Group, Chargeurs Fashion Technologies, the world’s second largest garment interlining manufacturer and key player in the fashion industry, manufactures and distributes an extensive range of fusible woven interlinings worldwide, thanks to its 7 production sites and 25 commercial offices worldwide. Chargeurs Fashion Technologies employs 857 people worldwide and recorded a 157,5 M€ turnover in 2015.
In spring 2014, Chargeurs Fashion Technologies first called upon the services of Chetwode, European specialist in industry financing and Acofi, a major player in the creation and management of lending funds, to support its development projects and diversify its financing sources. The objective was the setting up of a sale & leaseback funding on the Lainière de Picardie production equipment, amounting to 4M€.
Historically, Lainière de Picardie has been Chargeurs Fashion Technologies’ flagship. Founded in 1903, this site currently generates 40% of the Division’s turnover. It is also the main R&D center and the most significant production site of the Division, with 110 knitting machines and 7 coating lines.
In 2016, following a return to a significant revenue growth and improved operational performance, Chargeurs Fashion Technologies wished to enlarge the scope of the initial funding put in place in 2014, in order to ensure Lainière de Picardie more profitable commercial and industrial opportunities, optimize their industrial production equipment and target new clothing niches.
Rémy Husson, Chargeurs Group CFO, commented that “this operation is the result of the trust built up over several years between Chargeurs Group and the Chetwode team. Its expertise in industrial equipment and its perfect understanding of the company’s business model, enabled us to quickly obtain the financing required to support our development”.
Chetwode and Acofi thanked Lainière de Picardie for their renewed confidence: “We are delighted by the work and results achieved together with Acofi and we are proud of the renewed confidence expressed by Lainière de Picardie. It demonstrates the capacity of Chetwode to support its partners in the long run, toward the achievement of their financial objectives », states Jean-Baptiste Magnen, President of Chetwode.
Damien Boulangeat, Sales Rep. in charge at Chetwode explains: « Since 2003, the Chargeurs Group have worked with Chetwode to advise them in the financing of their industrial equipment. This new transaction is the proof of our capability to answer our customers’ needs on a long term basis and through all stages of the business cycle”.