AnaCap backs AssurOne buyout

The deal sees AnaCap, along with management, acquiring 100% of the company from previous backers Seventure Partners and Bpifrance.

Following the deal, AnaCap will support AssurOne's development. According to the financial services-focused private equity house, the French insurance market reached €180bn of insurance premiums in 2012; however, only 4% of these purchases were made online. AnaCap anticipates the digitisation of the French insurance market in the near future.

Previous investment
Seventure first invested in the company in July 2004, and then again in December 2006, this time injecting €4.2m, according to unquote" data. In February 2009, Seventure returned €11.5m from its previous investments through a refinancing of AssurOne, which was completed alongside new investors CDC Enterprises and Philippe Louis-Dreyfus.

Company
Established in 2004, AssurOne has developed from a direct broker of insurance products into an indirect and direct online insurance broker. Through its relationship with more than 20 major insurers, customers can purchase insurance products online via its platform.

The company had written more than 120,000 policies by the end of 2013.

People
Nassim Cherchali is investment manager at AnaCap. Bertand Vialle is CEO of AssurOne and Jeremy Garamond is president.

Advisers
Equity – Norton Rose Fulbright, Richard Bull, Bénédicte Denis, Andrew Houghton, Diane Odier (Legal); Vulcain (Corporate finance). 
Management - Scotto & Associés, Claire Revol-Renié, Franck Vacher, Jérémie Jeausserand, Cyril Modicom (Legal).

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• Topics
• France
• Buyouts
• Financials
• AnaCap Financial Partners
• Seventure (SPEF)
• France