CBOE AUSTRALIA & CANADA acquired by TMX GROUP

Ardian entered into a strategic agreement to become the primary shareholder of Diot-Siaci. The transaction allows for the full exit of Ontario Teachers' Pension Plan (OTPP), as well as the divestment of Cathay Capital and Mubadala. Bpifrance will reduce its stake but remain a minority shareholder. The new capital structure is designed as a balanced partnership between Ardian and the Burrus Group, alongside the management team. This transaction aims to support the group's ongoing growth strategy and consolidate its leadership position in the French and international insurance brokerage markets through a long-term collaborative governance model

Cinven preemptively acquired a 54% majority stake in Finaxy Group from Ardian Expansion. The transaction marks a "LBO Ter," where the founder and his management team significantly reinvested to pursue a new growth phase focused on international expansion. Following a successful four-year cycle where EBITDA nearly tripled, the new strategy aims to replicate Finaxy's French consolidation success in neighboring European countries. The deal maintains the existing unitranche debt provided by Barings, ensuring financial flexibility for continued external growth in specialized risks and mid-cap services

GGW Group has been acquired by Permira, the global private equity firm, through a transaction announced in December 2023. The acquisition follows Permira’s ongoing strategy to invest in service‑oriented platforms within resilient European markets. The deal is subject to customary regulatory approvals and is expected to close in the second quarter of 2024. The transaction involves the purchase of the equity interests currently held by Hg, the existing shareholder, and will result in Permira becoming the controlling owner of the brokerage platform

The acquisition of UGIP Assurances by Santiane marks a significant step in the latter's strategy of growth and diversification in the French insurance market. Through this transaction, Santiane aims to expand its market footprint and enhance its product offerings, leveraging UGIP Assurances' expertise in wholesale insurance broking and its network of partner brokers. The deal is expected to generate significant synergies, enabling Santiane to accelerate its growth and consolidate its position as a leader in the French insurance market

KKR is acquiring insurance broker April from CVC Capital Partners for EUR2.3 to EUR2.4 billion, representing 15 times its projected 2022 EBITDA. The deal is highly profitable for CVC, which valued April at EUR900 million three years ago, representing a 2.5-fold increase in value.

HLD acquired a majority stake in Groupe Vilavi, primarily to facilitate the complete exit of the founder and former CEO, following a series of serious criminal indictments. The deal was uniquely funded mainly through equity from HLD and debt secured from five of the group's key insurance partners: Allianz France, Generali France, Swiss Life France, MFA, and Wakam. This "French solution" was preferred over industrial offers (such as from Allianz) to preserve the broker's independence and maintain its ability to work with multiple insurers

Ardian won a competitive auction process (beating HG Capital and Cinven) to join TA Associates in a co-control consortium. Both sponsors hold equal stakes and governance rights. The transaction was financed via an unitranche debt provided by Arcmont. Under TA Associates' ownership since 2018, the group increased its revenue fivefold. The new strategic plan aims to triple the company's size through 10% annual organic growth and an aggressive M&A strategy targeting new verticals (commercial real estate, construction) and geographic expansion in France and potentially internationally

Abenex acquired a majority stake in Leader Insurance, succeeding LT Capital. The deal valued the group at approx. The transaction aimed to support founder Yoann Chery in his ambitious "buy-and-build" strategy to diversify into health, protection, and new geographic markets (DROM-COM).

Charterhouse Capital Partners has acquired a majority stake in Siaci Saint-Honore from Ardian. Under the new structure, the management and employees took control of the capital, with Charterhouse acting as the lead financial partner. Ardian, the previous majority owner, retained a minority position to support the group's continued international expansion. The transaction was structured to ensure the broker's independence by favoring financial sponsors over strategic industrial bidders. The strategic plan focuses on aggressive external growth across Continental Europe, Asia, and Africa, supported by recent industrial partnerships

BlackFin Capital Partners entered into exclusive negotiations to acquire a majority stake in Cafpi. The transaction allows for a family reorganization: the founder fully exits, while his brother reinvests alongside the management team. BlackFin secured the deal via a preemptive offer, beating out competitors like Cerberus and Santiane (backed by Latour Capital) in a process managed by Cambon Partners. The acquisition is financed by a unitranche debt representing approx. 4.0x EBITDA. The strategic roadmap focuses heavily on digitalization (currently only 7% of business comes from the web) and product diversification (savings, home insurance)