FACCE – Autonomous Fund to Support Company Merger and Consolidation Operations (“Fundo Autónomo de Apoio à Consolidação e Concentração de Empresas”) is one of three instruments of Programme PME Consolida, intended to implement special measures to support economic activity and employment provided for in the Programme Initiative for Investment and Employment recently approved by the Government.
The Fund has an envelop of 175 million Euro and provides a mechanism for co-financing of restructuring, merger and consolidation of companies, especially Small and Medium Enterprises (SME) operations.
It is in a monitoring stage of its portfolio and is not currently receiving new applications.
FACCE has the following objectives:
PME Investimentos – Sociedade de Investimento, S.A., with head-office at Rua Pedro Homem de Melo, No. 55, 3rd floor, S/309, Porto, was designated as the FACCE management company, responsible for daily management of FACCE and in particular, the receipt, analysis and preparation processes for investment decision.
Companies particularly SME in various economic sectors that hold evidence of regular status before the Tax Authorities and the Social Security.
FACCE supports restructuring, merger and consolidation of companies and corporate restructuring projects with demonstrated economic add-value, joint ventures and other forms of stable industrial and commercial partnership.
The pursuit of FACCE’s objectives is achieved through participation in the financing instruments, notably:
FACCE adopts as a privileged mode of intervention the complementarity of funding, to be provided with other forms of financing, including credit from credit institutions. FACCE and credit institutions will execute contractual arrangements to rule the terms and conditions of joint financing to companies.
Direct funding to be provided by FACCE may not exceed the lesser of: the amount corresponding to 40% of the funding needs of the operation or project; and 10 million Euros.