TA Associates invests in Group Ciprés

Though specific details of equity distribution remain undisclosed, the company’s management has increased its stake as a result of the transaction. Following the deal, managing director Laurent Ouazana will be promoted to president of Ciprés.

TA's involvement follows of a period of 3-4 years of investigation by the GP into the industry, with the aim of identifying potential partnership opportunities. 

The GP stated it was attracted to the deal by the company's management team, led by Ouazana, who has been with Ciprés since its inception. It also cited regulations within France whereby all SMEs will have to offer healthcare products to their employees by 2016; the company's share of expanding death and disability insurance market; and the potential for consolidation within the sector.

Company
Founded in 2000 and headquartered in Levallois-Perret, France, Ciprés is an insurance broker specialising in health, death and disability insurance products for SMEs and self-employed professionals. The company has a headcount of 150 and manages more than 47,000 insurance contracts.

People
TA principal Patrick Sader and managing director Ajit Nedungadi will both take a seat on the board. Laurent Ouazana is the president of Ciprés. Gilles Zeitoun and Georges-Henri Levy are co-presidents of Molitor.

Advisers
Equity – Latham & Watkins (Legal).
Company – Financière Cambon (Corporate finance); Linklaters (Legal).

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