DIOT-SIACI acquired by ARDIAN
Context
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.
DIOT-SIACI, which reported an EBITDA margin of in 2024, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Financial Services sector (12.2x).
-> Deep-dive in Financial Services market trends
Target
Diot-Siaci is a leading European insurance broker, recognized as a preferred partner for large corporate clients (including many CAC 40 companies). The group specializes in brokerage and consulting for property & casualty insurance, employee benefits, and international mobility, following the 2021 merger between Diot and Siaci Saint Honore.
Ent. Value
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (EUR)
Similar deals in Brokerage
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 07/2025 | BRIDGEPOINT | HANSEATIC BROKING CENTER (HBC) | GERMANY | Brokerage |
| 05/2025 | ADVENT INTERNATIONAL | KEREIS | FRANCE | Brokerage |
| 09/2024 | CINVEN | FINAXY | FRANCE | Brokerage |
| 02/2024 | TMX GROUP | CBOE AUSTRALIA & CANADA | CANADA | Brokerage |
| 12/2023 | PERMIRA | GGW GROUP | GERMANY | Brokerage |
| 07/2023 | SANTIANE | UGIP ASSURANCES | FRANCE | Brokerage |
| 12/2022 | KKR | APRIL | FRANCE | Brokerage |
| 09/2022 | HLD | GROUPE VILAVI | FRANCE | Brokerage |
| 01/2022 | ARDIAN | ODEALIM | FRANCE | Brokerage |
| 07/2021 | ABENEX | GROUPE LEADER INSURANCE | FRANCE | Brokerage |
REFERENCES
Valuation range: EV 3b - 100b EUR
Revenue range: 750M - 1.3b EUR
EBITDA range: 250M - 500M EUR
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of DIOT-SIACI by ARDIAN are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Acquirer: ardian