Tikehau Investment Management has arranged a bond financing allowing MK2 Group to diversify its funding sources and continue its development.
This transaction is fully subscribed by Novo 2, one of the two funds created by a consortium of insurance companies, to provide up to EUR1bn in total funding to mid-market corporates in France.
Created in 1974 by Marin Karmitz, MK2 Group has become one of the leading movie theatre chains in Paris, operating 65 screens within 12 multiplex cinemas. Its development plan is organised around three activities: operating movie theatre, marketing films and communication agency activities.
Nathanaël Karmitz, president of MK2 Group, says: “The group my father created is delighted to partner with Tikehau within the Novo 2 Fund to support our ambitious development plan in a changing film market. We were impressed by the reactivity of Tikehau’s investment team.”
Bruno de Pampelonne, president of Tikehau Investment Management, says: “A tailormade financing solution arranged by our investment team confirms the Novo 2 Fund’s objective of supporting growing companies in their expansion plans and allowing them to implement their development strategies.”
