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03/2025

DIOT-SIACI acquired by ARDIAN

FRANCE Brokerage EV 3b - 100b EUR

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).

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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)

Year
Rev
EBITDA
EBIT
2024
2023

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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