Montefiore to back BVA

Montefiore is due to secure a majority stake in BVA, according to French publication Capital Finance, which broke the news. The deal could be completed by the end of March.

BVA, one of the most well-known French opinion pollsters, is no stranger to private equity. Edmond de Rothschild Investment Partners invested approximately €4m of expansion capital for a 44% stake in 2004. The GP generated an IRR of 32% with a 2.4x money multiple when it exited the business in an LBO to Ixen in 2007. BVA is understood to have been owned by its management since 2010, with Capzanine as a junior creditor.

Boulogne-Billancourt-based BVA is an opinion pollster founded in 1970. The company conducts quantitative and qualitative studies, as well as satisfaction assessments. It reportedly generated a €62m turnover in 2011, against €40m in 2007.

Montefiore was not available for comment.

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