Apax and Bridgepoint team up again on CEP buyout

The two private equity houses already made a joint purchase last year with the €600m acquisition of French jewellery retailers Histoire d'Or and Marc Orian. They now face competition from AnaCap and JC Flowers to snatch the insurance services company, which could be worth more than €800m.

PAI partners took a majority stake in CEP in 2005, with management holding the remainder of the shares. The company posted a €90m EBITDA for 2010 and employs 300 people.

In addition to the sale of UK car repair outfit Kwik-Fit for £637m last week, PAI Partners is also taking bids for its 50% stake in French yoghurt maker Yoplait - a deal which should value the company at more than €1.4bn. Industry observers ar expecting the Parisian buyout house to return money to investors in anticipation of a new fundraising effort.

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• Topics
• France
• Buyouts
• Exits
• Financials
• France
• Apax Partners
• Bridgepoint
• PAI Partners
• Direct secondary
• Large-cap buyout