Ardian buys Finaxy from Equistone

According to press reports, the deal values the company at around €160m, which equates to 15x EBITDA.

Ardian invested in the company via its Ardian Expansion division.

With the support of Ardian, Finaxy plans to consolidate its organic growth, accelerate its buy-and-build strategy and strengthen its market position in the multi-specialist insurance industry.

Equistone acquired an 80% stake in Finaxy in April 2014 from French family office DLBO, which had invested in the company in 2009. The management and minority shareholders retained the remainder.

Equistone was invested in Finaxy via its fourth buyout fund, which still has another 10 companies in its portfolio, according to Unquote Data.

Company
Founded in 2009, Paris-based Finaxy is a multi-specialist B2B and B2C insurance broker, which specialises in three divisions: corporate, consumer niche markets and major strategic partnerships, with premiums collected amounting to €578m.

Since its inception, the group has pursued an intensive buy-and-build strategy, with 27 acquisitions in France, two of which took place in 2020.

Finaxy has 18 brands and a client-base of 10,000 companies and 200,000 individuals.

People
Ardian - Alexis Lavaillote (managing director).
Equistone Partners - Guillaume Jacqueau (managing partner).
Finaxy - Erick Berville (founder, CEO).

Advisers
Acquirer - Raphaël Financial Advisory (M&A); BCG (commercial due diligence); KPMG (financial due diligence, tax); Latham & Watkins (legal).
Vendor - Lazard (M&A); Goodwin (legal); Roland Berger (commercial due diligence) ; EY (financial due diligence); Arsene Taxand (tax); Jeausserand (legal); Callisto (financial due diligence).

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• Topics
• Buyouts
• Exits
• France
• Financials
• Ardian (formerly Axa PE)
• Equistone Partners Europe
• France
• EY (Ernst & Young)
• KPMG
• lazard
• Latham & Watkins