MML buys majority stake in sponsor-backed Freeland

Chevrillon and IDI will hold a minority stake in the Freeland Investissement holding company following the SBO, according to a press release. Bpifrance Investissement is also participating in the deal.

Freeland is aiming to become the leading freelancing platform by 2027, particularly in the HR segment, according to the press release. Freeland will continue developing its technology, as well as pursuing organic growth and M&A. The growth plans include diversifying the service offering to better cater to the increasing demands for freelancers.

IDI initially invested in the business in 2019. During its ownership, Freeland tripled in size and has reached a turnover of EUR 400m. Freeland expanded its service offering through acquisitions including French peer Groupe Codeur, IT service provider Consultime, and Freelance-Informatique, an IT projects marketplace. It also bolstered its presence in the payroll services market through organic and inorganic growth including acquiring Freeteam and Intervia.

MML is currently deploying equity via MML Capital Partners VII, which held a final close in July 2021 on EUR 670m.

The GP recently started deploying its new, lower mid-market strategy for the UK and northern European B2B assets, as reported. 

Company
Paris-headquartered Freeland was formed in 2018 via the merger of market peers Missioneo Group and Provisia. It is a platform that provides IT and HR services to self-employed individuals and freelancers in France. It supports 10,000 freelancers and several partner companies with their HR, IT, transitional management, and real estate requirements.

People
MML Capital – Henry-Louis Mérieux (managing partner), Louis de Montille (investment director), Anne-Claire Lainé (investment director), Charles Le Texier (investment manager).
IDI – Marco de Alfaro (partner), Augustin Harrel-Courtès (associate director).
Bpifrance – Louis Molis (deputy director large cap).
Freeland Group – Patrick Levy-Waitz (CEO).

Advisers
Equity (MML Capital, Bpifrance) – Amala Partners (M&A, financial due diligence); PwC (financial due diligence); Digital Value (strategic advisor); Latournerie Wolfrom (legal, tax); Willkie Farr & Gallagher (legal).
Vendor – Hogan Lovells (legal); Alvarez & Marsal (financial due diligence); Indefi (strategic advisor); Edmond de Rothschild (financial due diligence); Lawways (legal).
Management – Développement & Finance (M&A); Fides (management package structuring advisor); Arsène Taxand (tax).

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• Topics
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