Cobalt Capital sells Eurodommages in SBO

Qualium typically invests €20-75m per deal.

Cobalt acquired a majority stake in Eurodommages from the Gaye family in June 2015. The GP appointed Yann Drévillon as new CEO of the firm.

Under Cobalt's ownership, the business acquired the broker-wholesaler Progeas, which specialises in fleet insurance and is now fully integrated into the company. Eurodommages doubled its operating profitability and fully deleveraged over the past three years, according to the vendor.

Company
Founded in 1995, Eurodommages is an insurance broker targeting aggravated-risk situations for car and motorbike drivers, particularly those with a high premium as a result of reckless driving or licence suspension.

Headquartered in Bruges, near Bordeaux, the company generated a turnover of €15m in 2017 and currently employs 31 people. Organic growth amounts to close to 10% per year.

People 
Cobalt Capital – Christophe Fercocq (president); Julien Berger-Perrin (manager).
Eurodommages – Yann Drévillon (CEO).

Advisers
Vendor – UBS Fabrice Scheer, Jérôme Pin, Nicolas Senlis, Daniel Fernandez (M&A); Willkie Farr & Gallagher, Christophe Garaud, Virginie Sayag, Philippe Grudé (legal).
Equity – Rothschild & Cie, Pierpaolo Carpinelli, Philippe de Montreynaud (M&A); AyacheSalama, Olivier Tordjman, Gwenaëlle de Kerviler, Julie Bailly (legal).
Management – DLA Piper, Xavier Norlain, Aymeric Robine (legal).

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