Ecopark Adventures

Presentation of the company

Created in 2008, Ecopark Adventures is active in the adventure park sector. The company, managed by Arnaud Mahy, has 26 employees and is based in Paris.

The company’s main activity is: developped and managed adventure parks in forests for children and adults

The company works with families, school groups and summer camps.

Customers can enjoy freely in secured spaces on workshops like tree houses, high nets, and a storytelling tour about legendary inhabitants in the forest.

Ecopark Adventures owns 3 companies, for a total of 5 sites : the first one was created in 2008 at Penzé, then in 2009 at Tournai, in 2010 at La Castille, in 2012 at Marseille and Sannois, and the last one in 2018 at Monteclin.

Installations are completly reversibles, as the company is involved in ecological activities.

Project Description

The company, valuated 4 100 000 €, wishes to purchase minority shareholders for 570 000 €. The company wishes to borrow 260 000 € over 60 months to finance the acquisition of minority shareholders, the balance is financed by treasury. This project will be realised in the next few months.

This project is a Flexible Bridge Loan, an amortizable loan with a standard commitment for the first 9 months and the possibility of early repayment at no cost for the remainder of the loan term, even in the event of refinancing by other financial institutions.

The amount offered on the platform is limited to €127 400 which is in compliance with regulatory limits.

Like all projects presented to individual lenders on Lendix, it is co-financed with institutional investors, sophisticated investors and the management of Lendix, subscribers to the Lendix Fund.

Analyst’s Opinion

The borrower is the main operating company representing 47% of the group’s turnover and 47% of the profitability.

With a turnover of 816 000 € in 2017 and an experienced team, the company has a good track record combined with a two-digits operating margin.

The variation of revenue and profitability are linked to the opening of new sites and maintenance costs. The forecast is based on 2017, including the new debt raised in 2018 for the creation of Monteclin.

The borrower has a good repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,56 and an excellent financial structure, with a forecast net debt / ebitda ratio of 2 and a net debt / shareholder equity of 31%.

The analysis of the project leads to a credit rating of B+ and a 5,1% annual interest rate.

Strong points:

• Good historical performance based on diversified client base.
• Good repayment ability with a forecasted FCCR of 1,56.
• Positioning combining nature and strong sensations with ecological activities and very good notation of 4,5/5 on Tripadvisor

Point of vigilence:

• Competitive sector

*The multiple of FCCR at 1,56 means that the company has a safety margin of 56% relative to its ability to repay its credit maturities.

The expert opinion is given as an indication on the basis of the elements provided by the project holder and information from our databases (Scores & Decisions, Corporate Banking File). This opinion is only an element of reflection in the decision making of a lender to participate in the financing of a project.