This agreement signed on 22nd February 2017, provides for the pooling of LB Oprent and Chetwode’s expertise in origination and structuring of industry financing transactions dedicated to strategic assets located in Spain and Portugal.
According to the terms of this agreement, Chetwode shall open to LB Oprent its access to the European markets and shall for its part benefit from its partner’s presence in Iberian markets.
Through this exclusive Cooperation Agreement, Chetwode and LB Oprent reinforce their international development in structured financing, in leasing and sale & leaseback, and in asset-backed loans (equipment, contracts, stocks, invoices etc…).
Jean-Baptiste Magnen and Simon Hamilton, co-founders of Chetwode explain: «this Cooperation Agreement opens up the doors to the Spanish and Portugese markets in which LB Oprent has developped a strong experience in terms of transaction origination and lays the foundations for the creation of a common European platform dedicated to strategic industrial asset financing.»
For its part, LB Oprent sees this agreement as an opportunity to offer its Spanish and Portugese customers long-term financing solutions, in particular via the PLS fund* and its 220M€ dedicated to European industry and via the creation of new asset financing funds.
José-Antonio Lozano, LB Oprent CEO, comments: «we are very pleased that this agreement will allow us not only to benefit from Chetwode’s expertise in industrial equipment valuation, but also to have access to financing sources through the strong network of investors Chetwode has been developping for many years. »
In December 2016, a sale & leaseback financing of EUR 5.2M was put in place jointly by Chetwode and LB Oprent via the PLS fund*, for a Spanish cardboard manufacturer, as the first concrete step of a cooperation that promises to be fruitful, with the forthcoming signing of a 6.3M€ transaction, via the same investment fund, for a European manufacturer of insulation products. Not to forget the implementation of 3 new transactions for an amount exceeding 30M€.
*The PLS-Predirec Leasing Stratégique fund was created in 2014 by Chetwode and Acofi Gestion