Eurazeo sells Odealim to TA

Eurazeo disclosed that its proceeds from the sale should generate a 2x money multiple.

TA has invested in the business alongside its current management team – who will see their previous stake increase – and founders. TA typically provides equity tickets in the $50-500m range and is currently investing from TA XII, a buyout fund that closed on $5.3bn in 2015.

Previous funding
Eurazeo purchased a majority stake in Odealim – formerly known as AssurCopro – in 2016, alongside founders Olivier Scemama and Vincent Mancel and the company's management team.

Under Eurazeo's ownership, Odealim completed five acquisitions, including InterAssurances, Jacques Boulard and Insor. As a result, the business strengthened its geographic positioning in the Paris and Provence-Alpes-Côte d'Azur regions and expanded into new locations such as Lyon.  

Company
Odealim, founded in 1927, is an insurance broker for co-ownership groups operating in the French market. It has relationships with insurance companies and 3,200 co-ownership trustees and property managers in France.

Headquartered in Paris, Odealim manages four companies operating in the real estate insurance space in France: AssurCopro, Jacques Boulard, InterAssurance and Insor. It employs 90 people in Paris, Lyon, Cannes and Nice, and generated sales of €130m in 2017, up from €86m in 2015. 

People
Eurazeo PME – Pierre Meignen (managing director).
Odealim – Olivier Scemama, Vincent Mancel (founders); Xavier Saubestre (chairperson).
TA Associates – Patrick Sader (managing director).

Advisers
Equity – Cambon Partners (corporate finance).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Exits
• France
• Financing
• France
• Eurazeo
• TA Associates