CDC International, Mubadala back SFAM

The backers invested via Franco-Emirati Fund (FEF), a vehicle jointly owned by French state-owned investment group CDC and Mubadala.

French publication Capital Finance claimed that FEF invested €100m in the business.

The injection of fresh capital will help SFAM to expand to new geographies, including Portugal, the Netherlands and Italy, and continue diversifying its insurance services for portable and multimedia products, as well as its cash-back programmes.

Previous funding
Andera Partners supported SFAM with a €10-20m investment via its Winch Capital 3 fund in 2016; the deal featured a senior medium-term facility provided by BNP Paribas, Neuflize OBC, BECM and CELDA.

In February 2018, Ardian backed SFAM in €1.7bn deal, with Andera partially exiting the asset. The transaction saw the company's CEO, Sadri Fegaier, remain the majority shareholder, while Ardian became a minority owner, injecting €200m into the business. Ardian LBO Fund VI was the vehicle used for the transaction.

Company
Founded in 1999 by Sadri Fegaier, SFAM sells extended warranties for a range of electronic devices. Based in Romans-sur-Isère, the company designs, sells and manages a line of premium insurance products for mobile phones and multimedia devices with extended warranties. With 1,400 employees, SFAM expects to achieve €500m in gross sales in 2018.

Advisers
Equity – Clifford Chance (legal).
Company – Natixis Partners (corporate finance); Aklea Societe d'Avocats (legal).

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• Topics
• Expansion
• France
• Financials
• France
• Ardian (formerly Axa PE)