FGI Provides Techniplas with Creative Finance and Risk Solutions

“Through a series of worldwide acquisitions, Techniplas has grown into an industry leader in thermoplastics, pioneering and delivering cutting-edge technology. Mexico is a crucial piece of our business and we needed a better working capital solution to support its growth. We engaged with FGI at a pivotal time in our company’s advancement, as we transitioned from the M&A phase to integration. FGI understood where we are heading as a company and provided us with the working capital, flexibility and runway to get there.”

— David Knill,
Global CFO, Techniplas

Introduction

Techniplas is a leading global design and manufacturing provider of engineered products and services that are helping to shape the future of mobility. By continuously expanding the reach of data-enabled cognitive technologies into everything it does, Techniplas delivers personalized, performance-enhanced and sustainable mobility.

Situation

Techniplas was first introduced to FGI as part of a strategic program which their bank has in place with FGI. Techniplas needed help structuring and negotiating a competitive credit insurance policy to insure their export receivables. Additionally, they required assistance with monitoring the new policy to ensure it was always in compliance. FGI worked with Techniplas to structure the ideal policy and then set them up on T.R.U.S.T., FGI’s credit insurance monitoring platform, to ensure that their new policy would always remain in compliance.
With this relationship established, Techniplas approached FGI with a new opportunity. As Techniplas’ fast-growing Mexico subsidiary continued to expand, it was the company’s preference to finance this operation domestically which can be a challenge for multinational companies. Familiar with FGI’s expertise in international financing, Techniplas turned to FGI to finance their Mexican business.

Solution

FGI was able to provide the Techniplas Mexico operation with a receivable finance facility that allowed the company to repatriate funds to the US parent, as well as provide ongoing working capital to further support their growth.