Eurazeo buys Idinvest in €310m deal

The transaction saw Eurazeo buy its stake for approximately €230m, with Idinvest's enterprise value set at €310m.

Jointly the two firms will have €15bn in AUM, serving the growth needs of companies in Europe and North America.

Eurazeo will invest in the funds managed by the Idinvest teams, though Idinvest will retain total management autonomy, with the management team remaining unchanged.

IDI previously owned a 51% majority stake in Idinvest, with managing partners Christophe Bavière and Benoist Grossmann holding the balance.

Idinvest was created through the spin-out of AGF Private Equity from Allianz in 2010, orchestrated by IDI with a €27m investment.

Idinvest is an asset manager specialising in seed, leverage buyouts, growth capital, debt financing, mezzanine, capital restructuring and recapitalisation transactions in the lower-mid- and mid-market segments. The firm manages approximately €7bn in assets, typically investing between €2-10m per funding round and up to €15m in total. It is headed by CEO Christophe Bavière and managing partner Benoist Grossmann.

Eurazeo is a Euronext-listed investment company with AUM of approximately €7bn, of which €1bn is from third parties. The firm typically invests €100-800m in companies having enterprise value of more than €300m, operating in Europe with a special focus on France, according to Unquote Data.

Patrick Sayer is Eurazeo's current CEO, while deputy CEO Virginie Morgon will become CEO as of March 2018.

Investment bank Messier Marris was appointed by IDI to advise on the sale.

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• Topics
• GPs
• France
• France
• Eurazeo
• IDInvest Partners (AGF Private Equity)