Initiative & Finance backs Azman in OBO

Equity for the investment was drawn from Initiative & Finance FPCI II, a €168m fund launched in 2015. Around half of the fund is expected to be deployed by the end of 2017.

The small-cap fund writes €2-15m tickets, with a sweet spot in the €4-10m range. The vehicle seeks companies valued in the €5-50m space when acquiring majority stakes, and considers assets with enterprise values of up to €80m with minority investments.

According to French daily Capital Finance, Azman intends to make three to five acquisitions in the coming years.

Company
Founded in 2008 and headquartered in Maisons-Alfort, Azman provides security systems to businesses, including CCTV, alarms, biometric access control and cardiac defibrillator products.

People
Azman Groupe – Cedric Wizman (owner).
Initiative & Finance – Matthieu Douchet (managing director).

Advisers
Equity – Cofigex (M&A); Lamartine Conseil (legal).
Company – Samothrace (M&A).

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