Parquest sells Polyexpert back to management

The GP said in a statement that Polyexpert made some advancements during the holding period, including improvement of financial and operational structuring, digital transformation, product development, and external growth via the acquisitions of small regional peers.

Parquest bought a minority stake in Polyexpert in 2014. The GP invested via Parquest Capital I, a €300m fund that closed in the same year. The vehicle was the first to be managed solely by Parquest after it span out from ING Parcom Private Equity in 2014.

The deal was part of a capital restructuring that saw a holding company take control of nine regional businesses forming the Polyexpert group. Parquest secured a minority stake in the process, becoming the group's largest shareholder.  The remainder was owned by 125 investors. The deal was sourced on a proprietary basis, the GP told Unquote at the time, and took 18 months to complete.

LCL, BNP Paribas, CIC Ouest and Banque Rhône Alpes provided a senior debt package to finance the 2014 buyout.

Company
Founded in 1996 and based in Clichy, Polyexpert is a claims management service for property and casualty damages, as well as technical risk for both corporate and private individuals. It operates a network of 100 offices with 1,500 employees, including 700 loss-adjustment experts. The business generates revenues of around €150m.

People
Groupe Polyexpert – Emmanuel Géli (CEO).
Parquest Capital – Pierre Decré, Thomas Babinet (partners); Guillaume Brian (investment manager).

Advisers
Vendor – Mayer Brown (legal).

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