Permira buys minority stake in New Immo Group

Harriet Matthews
29 April 2021

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Permira has acquired a 36% stake in France-based digital real estate platform New Immo Group.

Existing investor Qualium Investissement is to retain its stake in the company. New Immo's management will also retain their majority stake.

The company aims to expand the teams in its head offices, as well as to accelerate its technological development and international expansion, according to a statement.

Permira is investing via its Permira Growth Opportunities I vehicle. The fund held a final close in June 2019 on $1.7bn in June 2019. It has previously invested in France, acquiring a minority stake in e-commerce platform Mirakl via a $300m funding round in September 2020.

Previous funding
Qualium Investissement acquired a 30% stake in New Immo in 2018. The company posted revenues of €84m at the time. According to Unquote sister publication Debtwire, the company also generated EBITDA of €13m and the deal was backed by unitranche from BlueBay.

Company
Founded in 2010 and headquartered in Toulouse, the New Immo group comprises subsidiaries SAFTI and MegAgence. The company has a network of 7,100 agents in France and its digital platform allows them to manage and develop their property and client portfolio, with the aim of avoiding the costs generally incurred by having a physical agency.

The business generated revenues of more than €150m in 2020, according to existing investor Qualium's website. New Immo operates in France and is also developing its operations in Portugal and Spain.

People
Permira – Alexandre Margoline (partner, head of Permira in France); Roy Awad (investment executive).
New Immo Group – Gabriel Pacheco (founder, CEO).
Qualium Investissement – Jean Eichenlaub (managing partner).

Advisers
Equity – Alvarez & Marsal, Frédéric Steiner, Jonathan Gibbons, Benoît Bestion, Sébastien Trochet (financial due diligence); PwC, Katia Gruzdova, Sylvain Le Petitcorps, Stanislas Bocquet, Thamilis Courtot, Elefterija Balkoska (tax); Latham & Watkins, Thomas Forschbach, Alexander Crosthwaite, Etienne Gentil, Matthieu Herviaux, Matthias Rubner, Floriane Cruchet, Daphnée Setondji (legal); Weil Gotshal & Manges (legal).