Case Study: Enabling an Industrial Turnkey Sandwich Pancake Line Project in Morocco

A rapidly growing Moroccan food manufacturer faced challenges in capturing a new market opportunity due to technology and capital constraints. Through a strategic partnership between Cake Concepts and Orange Capital Solutions, the customer successfully obtained a complete turnkey sandwich pancake production line via a customized 5-year export loan backed by Atradius Dutch State Business. This Dutch government-backed financing solution enabled immediate market entry with cutting-edge European technology at competitive terms and conditions that traditional financiers couldn't offer, while preserving its working capital for ongoing operations. Simultaneously, the structured solution enabled Cake Concepts to de-risk the project and manage its liquidity pre- and post project handover.
Written by
Xander Vissering
Read time
10
min read
Posted on
September 23, 2025
Background

Our customer is a fast-growing, family owned diversified food manufacturer based in Morocco. The company identified a significant market opportunity in high-quality sandwich pancakes and was committed to building a new production facility to capitalize on this emerging market segment. As an ambitious growth-oriented business, they required cutting-edge European technology to ensure product quality and industrial-scale production capabilities.


The Challenge

The Moroccan customer faced three critical obstacles that threatened to derail their expansion plans:

  • Technology Expertise Gap: They lacked experience with industrial sandwich pancake production and needed a trusted technology partner who could provide both equipment and knowledge transfer to ensure successful implementation.
  • Capital Investment Constraints: Despite rapid business growth, the company had limited immediate cash available for major capital investments, creating a significant barrier to acquiring the necessary production equipment in line with their strategic objectives.
  • Greenfield Investment Support: The customer is building a new factory and required a customized financing solution. Their preferred approach was to establish a new operating company for this venture without investing all funds upfront.

The Solution
Cake Concepts' Comprehensive Turnkey Approach

Cake Concepts, a specialist in developing industrial baking machinery for innovative product concepts, designed a complete sandwich pancake production line specifically tailored to the customer's requirements. Their solution included:

  • Sandwich Pancake Machine: Core production equipment with integrated baking, filling, printing and sealing capabilities
  • Cream Cooker: Specialized equipment for preparing high-quality fillings
  • Intermediate Cooler: Temperature control system for optimal product quality
  • Product Cooler: Final cooling stage ensuring product integrity
  • Packaging Robot: Automated packaging solution for consistent, hygienic packaging

The solution combined Cake Concepts' proprietary machines with carefully selected third-party equipment, with Cake Concepts maintaining overall turnkey responsibility for the entire production line.

Orange Capital Solutions' Smart Export Financing

Orange Capital Solutions structured an export financing solution backed by Atradius Dutch State Business – an Export Credit Agency representing the Dutch Government – that:

  • Provided Competitive Financing Terms: Dutch Government backing enabled attractive interest rates, making cutting-edge European technology accessible at terms and conditions that traditional financiers couldn't offer
  • Avoided Technology Compromise: The financing structure enabled the customer to acquire a complete turnkey sandwich pancake production line from day 1 in line with their strategic objectives
  • Enabled Greenfield Investment with Liquidity Protection: Extended payment terms allowed the customer to establish a new operating company and build their factory while maintaining working capital for ongoing operations

Additionally, this deal structure helped Cake Concepts to mitigate pre-credit risk and secure the necessary working capital to start production. The financing benefits continue post-delivery: upon successful customer acceptance, this deal structure will allow Cake Concepts to preserve its cash flow by transferring the extended payment terms to a third-party financial institution, effectively functioning as accounts receivable forfaiting on a limited recourse basis.


Results

Through our partnership, the customer:

  • Gained Competitive Technology Access: Obtained cutting-edge European industrial baking technology and expertise at competitive financing terms & conditions
  • Secured Market Entry: Successfully acquired a complete turnkey sandwich pancake production line without upfront capital investment, enabling immediate entry into the high-quality sandwich pancake market
  • Preserved Financial Flexibility: Maintained working capital for ongoing operations while establishing the new operating company

Client Testimonial

"Orange Capital Solutions structured an export financing solution backed by the Dutch Government that met the requirements of all parties involved at acceptable terms. Their approach de-risks the project, with the export loan starting after successful customer handover. They handle all financing-related complexities, allowing us to focus entirely on what we do best - delivering superior sandwich pancake technology."

— Simon Holl, Owner & Managing Director of Cake Concepts


Conclusion

This Morocco project demonstrates Orange Capital Solutions' ability to structure smart export financing taking into account the customer’s strategic objectives and Cake Concept’s risk mitigation and liquidity requirements.  By enabling Cake Concepts to offer flexible payment terms while protecting their liquidity, the turnkey solution transformed a potential deal barrier into a market differentiator. The result: the Moroccan customer successfully acquired a cutting-edge industrial sandwich pancake production line without upfront capital investment, enabling immediate entry into the high-quality sandwich pancake market.

The multi-stakeholder approach—combining advanced technology and a smart financing structure—illustrates how export financing solutions can unlock market potential that traditional sales approaches cannot address.

As the founder of Orange Capital Solutions, Xander Vissering now brings this proven expertise in export financing and smart deal structuring to Dutch exporters seeking to accelerate international growth while preserving cash flow for ongoing operations and other growth initiatives. His experience demonstrates how smart financing solutions can transform customer requirements into a competitive advantage for exporters.

Ready to explore export financing for your international projects?

Contact Orange Capital Solutions to discover how smart export financing solutions can accelerate your international growth while preserving working capital for business expansion. Our proven expertise in cross-border project structuring can transform financing challenges into competitive advantages for exporters selling projects worldwide.

Contact us at info@orangecapital.solutions to schedule your export financing consultation.


This case study is based on an ongoing project. Final results will be available upon completion of the project.

Written by
Xander Vissering