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Restaurants and catering services
Created in 2012, Renati Relais Nord Services is a catering establishment for truck drivers. The company, managed by Heloïse Radmann, employs 3 people and is based in Omiecourt (France).
The company’s activities are:
The company works mainly with lorry drivers and has nearly 100 seats. The average daily attendance is 50 to 60 people.
Its geographical location halfway between Paris and Lille, and close to the A1 motorway, allows it to have a mainly French, Dutch and Belgian clientele.
The restaurant operates in the so-called working class catering segment and offers a traditional French cuisine menu.
The company wishes to borrow €83,000 over 48 months to finance the purchase of the majority shareholder Karima Betroune’s shares, valued at €100,000. The balance is financed by a €20,000 contribution from the company’s treasury. The redemption of the shares by the company will entail a capital reduction.
Like all projects presented to private lenders on Lendix, it is co-financed with institutional investors, sophisticated investors and the management of Lendix, subscribers to the Lendix Fund.
With a turnover of €326,000 in 2017 and an experienced team, the company has a good performance record in terms of activity combined with double-digit operating profitability.
Over the last 3 years, the increase in sales is linked to an increase in the number of customers. In 2017, the margin was impacted by work carried out with equity capital.
The forecast has been prepared on the basis of 2017 performance.
The borrower has a solid repayment capacity with a fixed charge cover ratio* (FCCR) of 1.60 and a strong financial structure with a net debt to EBITDA ratio of 1.1 and net debt to equity ratio of 167.0% taking into account the capital reduction.
The analysis of the project and the borrower leads to a B rating with a strong financial solidity and a rate of 5.60% per year.
The multiple of FCCR at 1,60 means that the company has a safety margin of 60% 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.