BRAINTREE, Mass., July 9, 2015 /PRNewswire/ -- Yesterday Planon—a market leading specialist in Integrated Workplace Management Systems (IWMS)—and the European Investment Bank signed an agreement for a loan of €12 million. This investment will contribute to Planon's ambition to—through continuous innovation—further strengthen its international position as a market leading provider of facility management and real estate software.
"Planon is a model for other organizations in how they built their business and create steady and durable growth," says European Investment Bank Vice-President Pim van Ballekom. "A large portion of their proceeds is invested back into the company itself, which has contributed to sustainable growth. The Bank is always open to support businesses like Planon to boost innovation and competitiveness in a sustainable way."
The European Investment Bank (EIB) is the European Union's bank, representing the interests of the European Union Member States and working closely with other EU institutions to implement EU policy. The EIB provides finance and expertise for sound and sustainable investment projects which contribute to furthering EU policy objectives. Planon will be the first Dutch software vendor to use this innovative new "Mid-Cap Growth Finance" product of the joint EIB-European Commission "InnovFin – EU finance for innovators" program. The loan will continue Planon's dedication to the North American market, which included establishing a second headquarters.
"Under the guidance of Deloitte Corporate Finance, Debt Advisory, we've chosen this growth investment with the EIB to realize our global growth ambitions," says Fred Guelen, CFO and President North America of the Planon Group. "We considered several more traditional financing methods—such as bank financing and venture capital—but in the end we chose this innovative financial product. Thanks to the growth investment—in combination with our longstanding experience and proven software solutions—Planon is in a very good place to take the next step towards global market leadership, allowing our customers to profit to the fullest from our innovative power."
Karel Knoll, director at Deloitte Corporate Finance, Debt Advisory adds: "At Deloitte Corporate Finance, Debt Advisory we advised this particular financial instrument because the solution is a great fit with Planon's specific financing needs. The selected EIB-facility will give Planon the flexibility and freedom they need to continue both their investments in RDI as well as making the transition to SaaS. This allows Planon to strengthen their leading position even further."
With over 30 years of experience, Planon is the leading global provider of software that supports organizations that aim to optimize workplaces, services and assets. Planon delivers innovative software, proven best practices and professional services that increase workplace productivity and cost efficiency. Planon's software has been completely designed in-house and is fully integrated to deliver reliable management information. Gartner—the leading independent technology research organization—has consistently rated Planon as a global leader in their Magic Quadrant for Integrated Workplace Management Systems (IWMS). Planon has implemented its comprehensive solutions for over 2,000 clients, supported by offices around the world. To learn more about Planon's IWMS and CAFM software, visit http://planonsoftware.com or follow us on Twitter @Planon_US or @Planon_CA.
About the European Investment Bank
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
InnovFin MidCap Growth Finance offers long term senior, subordinated loans or mezzanine loans, in order to improve access to finance mainly for innovative larger midcaps (up to 3000 employees), but also SMEs and small midcaps. Loans from EUR 7.5m to EUR 25m will be delivered directly by the EIB.
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