• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deal search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
      • Deals search
      • Exits search
      • Funds search
      • Sponsors search
      • Advisers search
      • LPs search
      • League tables
      • Reports
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
UNQUOTE
  • Buyouts

Bridgepoint buys 28% stake in French asset manager Cyrus

  • Alessia Argentieri
  • Alessia Argentieri
  • 02 April 2020
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

Bridgepoint has acquired a 28% stake in Paris-based wealth management company Cyrus.

Cyrus is valued at around €190m, which equates to 12.6x its 2019 EBITDA of €15m, according to press reports.

Ardian provided a unitranche facility to support the deal.

The company's management team, led by president Meyer Azogui, retained the remaining 72% stake in the business.

The deal was made by the GP's lower-mid-cap subsidiary, Bridgepoint Development Capital (BDC), via its BDC III fund, a £600m vehicle raised in 2016. The GP recently launched a fourth BDC fund, which is aiming to raise £1bn.

BDC III and IV focus on buyouts and growth capital investments, typically in businesses with an enterprise value of between £30-200m. They deploy equity tickets in the £20-100m range in companies with the potential for value creation through organic growth, acquisitions and operational improvement.

The funds invest across the UK, France and the Nordic region, with a particular focus on the consumer, leisure, healthcare, life sciences, industrials, media, technology and business services sectors. They also support their portfolio companies with further capital for expansion and buy-and-build opportunities.

Previous funding
UI Gestion acquired a 30% stake in Cyrus for €3.3m in July 2008 and exited the investment in 2011, when BlackFin Capital Partners bouht a 33% stake in the company via its debut fund.

The GP sold its stake in 2017 to the company's management team and employees, who became the sole owner of the business. Ardian provided a unitranche facility to support the management's buy-back. It invested via its €2bn fund Ardian Private Debt III.

Company
Established in 1989 and headquartered in Paris, Cyrus Group is a wealth management company with 12 branches across France. The group comprises Cyrus Conseil, which specialises in asset management; Eternam, an expert in real estate investment; and Invest AM, a provider of bespoke financial services.

Cyrus employs 200 staff and manages assets worth €4bn for around 4,500 clients. It generated revenues of €50m in 2019.

People
Cyrus
– Christophe Mianné (CEO); Meyer Azogui (president).
Bridgepoint Development Capital – Bertrand Demesse (associate).

Advisers
Equity
– Fuzall Corporate Finance (corporate fianance); EY (financial due diligence); McDermott Will & Emery (legal); KPMG (financial due diligence); PwC (legal, tax).
Company
– Cambon Partners (corporate fianance); Jeausserand Audouard (legal); Grant Thornton (financial due diligence).

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • Buyouts
  • France
  • Financials
  • Bridgepoint
  • Ardian (formerly Axa PE)
  • France
  • Minority investing
  • KPMG
  • PwC
  • EY (Ernst & Young)
  • McDermott Will & Emery
  • Grant Thornton

More on Buyouts

Permira to take Ergomed private for GBP 703m
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • Buyouts
  • 04 September 2023
Main Capital's Assessio to be sold to Pollen Street
Main Capital's Assessio to be sold to Pollen Street

Recruitment software company tripled in revenue under Main Capital’s ownership

  • Buyouts
  • 25 August 2023
TPG takes majority control of A-Gas, doubles down on impact investing
TPG takes majority control of A-Gas, doubles down on impact investing

KKR partially exits its 2017 investment in the specialty gas and chemical distributor, retaining a minority stake

  • Buyouts
  • 18 August 2023
Quadrivio to capitalise on baby boomers as it nears wrap for its new EUR 300m fund
Quadrivio to capitalise on baby boomers as it nears wrap for its new EUR 300m fund

The Silver Economy Fund makes its second investment as it highlights trend of GPs doubling down on narrow strategies

  • Buyouts
  • 16 August 2023

Latest News

Partners Group to release IMs for Civica sale in mid-September
  • Exits
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • 04 September 2023
BHM Group builds on PE strategy, eyes European medtech and renewable energy acquisitions
  • Investments
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Czech Republic-headquartered family office is targeting DACH and CEE region deals

  • 01 September 2023
Redalpine expands leadership team amid CHF 1bn-plus fundraise
  • Venture
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Ex-Rocket Internet leader Bettina Curtze joins Swiss VC firm as partner and CFO

  • 31 August 2023
Change Ventures aims to hold final close for EUR 20m third fund by mid-2024
  • Funds
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Estonia-registered VC could bolster LP base with fresh capital from funds-of-funds or pension funds

  • 31 August 2023
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013