EVS secures 24 million EUR financing over 7 years for its new headquarter in Liège

EVS Broadcast Equipment, the leading provider of live video production systems, today announces it has secured the long-term financing of its new headquarter and innovation centre in Liège. As part of its long-term evolution, EVS is strengthening its Research and Development and its overall organization by preparing the gathering of all its Liège based employees in a new centralized facility.

As a consequence of the rapid growth over the last years, more than 315 staff are currently split over 6 different buildings on the Liege Science Park, which is not optimal for a predominantly software development and big systems integration company. The new facility (around 20.000 square meters) is divided into 6 levels, out of which 3 are fully dedicated to innovation and project development where big systems are not only developed but also assembled and tested before being shipped across the globe. The global budget approximates EUR 45 million, after deducting ERDF (European Regional Development Fund) subsidies granted by the Walloon Region. The works started in autumn 2011 and shall be completed in autumn 2014. By the end of September 2013, EUR 25.7 million have been already invested (less EUR 3.5 million of subsidies booked at the same date). This amount has been funded by strong organic cash generation while a bit less than half of the project value will be financed through financial debt.

Tailor-made solution

As part of this major project, EVS has signed today in Liege a EUR 24 million credit facility with a consortium of 3 major banks over 7 years: European Investment Bank (50%, EUR 12 million), ING Belgium (25%, EUR 6 million) and BNP Paribas Fortis (25%, EUR 6 million). The first drawdown of EUR 8 million shall happen by the end of November. The first repayment is planned early 2015 and the last repayment shall occur in 2020. 
Pim van Ballekom, EIB’s Vice-President, said on the occasion of signature: « The Growth Finance Initiative allows us to provide tailor-made financing solutions to companies that invest above industry average in RDI-intensive sectors. With its strong focus on research, development and innovation, EVS is an ideal candidate for this new financial instrument ».
« BNP Paribas Fortis is very happy to be able to co-finance the development of a company such as EVS, flagship of the Belgian dynamism. More than ever, BNP Paribas Fortis wants to be the key partner of entrepreneurs, in Belgium and in the 80 countries where BNP Paribas is present », said Benoit Mélot, Area Manager (Liège-Namur-Luxembourg) Commercial Banking at BNP Paribas Fortis.
Sébastien D’Hondt, Head of ING Corporate Clients Belgium added: « ING Belgium is proud to contribute to the long term financing of EVS, through its new headquarter project, and to support the company, that we consider as a real Belgian technological flagship, in its future growth. Being present for our business clients and supporting them with their good projects in society is an important role that is key for us ».
Joop Janssen, EVS’ Chief Executive Officer: « We are very happy to have this consortium to finance our ambitious vision, in particular the new state-of-the-art headquarters which will enable us to improve internal communication and interaction within the company ».
Jacques Galloy, EVS’ Chief Finance Officer: « We have identified EIB, ING and BNP as financial partners for accompanying our developments through this EUR 24 million senior debt. They have a good understanding of our business, risks and potential. They have been faithful partners to our group over the last decade, amongst other with the EUR 150 million financing late 2008 of our 40% affiliate dcinex, leader in pan-European Digital Cinema infrastructure deployment ».

Retrouvez l’interview de Jacques Galloy dans notre dossier Innovation