ElaN Languages is working with LRM again
Heusden-Zolder/Hasselt, 24 March 2010. The investment company LRM and the ElaN Languages management are each investing 150,000 Euros in the further expansion of international branches.
Growth and internationalization
Since its founding in 1990, ElaN Languages has grown into a major player in the fields of specialized translations and custom-made language courses. The language supplier, based in Heusden-Zolder, has 32 full time employees and over the last ten years has experienced an average growth rate of 20%. ElaN Languages’ annual turnover is 6 million Euros and it has opened branches in Brussels, the Walloon part of Belgium, France and Russia in the last few years. Meanwhile, the forthcoming years will involve further expansion towards the neighboring countries of the Netherlands and Germany.
The extra 300,000 Euros will be used to support this strategy. Both partners will make money available in the form of a subordinated loan over 7 years. After a first loan in 2004, this is the second time that LRM is investing in ElaN - proof of a productive cooperation between the two parties.
Plus Loan
LRM is offering the financial support in the form of a Plus Loan. This standard subordinated loan has been “ElaNced” by LRM to lower the threshold towards risk capital for SMEs. The loan is not subject to any securities and offered as an addition to bank credit and the company’s own funds. Bankers see this Plus Loan as additional near equity , which makes it a leverage for more bank financing. LRM is offering Plus Loans between 50,000 and 500,000 Euros at a standard interest rate of 8% APR. The Plus Loan has a fixed term of 7 years, including a maximum franchise period of 2 years, for paying back the capital.
About ElaN Languages
ElaN Languages was founded in 1990 and is now a leading player in the field of specialized translations and custom-made language courses. ElaN employs 32 full time employees and is continuously working on international growth.
A first step towards internationalization was made in September 2007 when ElaN France opened its doors in the South of France. The last few years saw two more international branches being set up: ElaN France and ElaN Moscow.
Info: www.elanlanguages.com
About LRM
LRM is a profit-oriented investor, offering entrepreneurs a unique combination of venture capital and real estate. Oxygen for growth! LRM is a generalist, but has developed specific competencies in ICT, Life Sciences and Cleantech. LRM's activities contribute to the economic development and general employment in the province of Limburg. It targets all sectors and companies, from starting companies to growing SMEs and larger businesses. Access to LRM runs via five domains: ICT & Media, Life Sciences, Cleantech & Energy, SMEs and Large Businesses. www.lrm.be
Further information
ElaN Languages
Wim Vanschooren
Managing director
T +32 11 79 05 21
E wvanschooren@elanlanguages.com
LRM
Sabine Eevers
Investment Manager SME
T +32 11 24 68 86
M +32 477 29 92 39
E s.eevers@lrm.be