Ardian takes majority stake in Finaxy
Context
Ardian acquired a majority stake in Finaxy from Equistone Partners Europe, which had owned the group since 2014. The transaction was valued at an Enterprise Value of €160 million, representing an aggressive multiple of approximately 14.5x EBITDA. To secure the asset in a competitive process managed by Lazard, Ardian submitted a preemptive offer that outpaced other finalists such as Parquest Capital and Abénex. The transaction is financed by a senior debt package provided by a pool of banks, representing approximately 5.0x EBITDA. Founder and CEO Erick Berville remains at the helm, maintaining a significant equity stake to drive the next phase of consolidation and organic growth.
In the past, Finaxy was acquired by Equistone in 2014 as part of its expansion strategy.
Finaxy, which reported an EBITDA margin of [members only] in 2020, is valued in this transaction at an EV/EBITDA multiple of 10x–18x.
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Target
Founded in 2009, Finaxy Group has rapidly ascended to become the 10th largest multi-specialist insurance broker in France, managing nearly EUR100 million in commissions with a robust 30% profitability margin. The group operates through three strategic pillars: a B2B division serving SMEs and mid-caps, a B2C division focused on high-growth luxury and affinity niches (such as prestige cars and pet insurance), and a dedicated partnerships division with major bancassurers.
Ent. Value
€100–350M
Equity Value
[members only]
Multiples
EV / Revenue
2x–6x
EV / EBITDA
10x–18x
EV / EBIT
[members only]
Historical Financials (EUR)
Other operations with Finaxy
Other operations with Ardian
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 10/2020 | ARDIAN | H2 PHARMA | FRANCE | CDMO |
| 10/2020 | KKR / TETHYS INVEST / ARDIAN / CNP ASSURANCES / MERIEUX EQUITY PARTNERS | ELSAN | FRANCE | Clinics / Hospitals |
| 05/2020 | ARDIAN | ARGON & CO | FRANCE | Strategy & Management |
| 01/2020 | ARDIAN | FRULACT | PORTUGAL | Ingredients |
| 01/2020 | ARDIAN | SANTE CIE | FRANCE | Health Providers |
| 12/2019 | ARDIAN | CERELIA | FRANCE | Bakery / Pastry |
| 07/2019 | NAXICAP PARTNERS / ARDIAN | EMERA | FRANCE | Nursing Homes |
| 05/2019 | ARDIAN | SINTETICA | SWITZERLAND | Pharma & Biotech |
| 02/2019 | ARDIAN | STUDY GROUP | UNITED KINGDOM | Education Providers |
| 01/2019 | ARDIAN | CELLI GROUP | ITALY | Food & Beverage Lines |
Similar deals in Brokerage
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 03/2021 | GROUPE FINIZY (MEILLEURTAUX) | ACTIVE ASSURANCES | FRANCE | Brokerage |
| 10/2020 | LATOUR CAPITAL | SANTIANE | FRANCE | Brokerage |
| 07/2020 | SILVER LAKE | GROUPE FINIZY (MEILLEURTAUX) | FRANCE | Brokerage |
| 05/2020 | BRIDGEPOINT | KEREIS | FRANCE | Brokerage |
| 04/2019 | 21 INVEST | FMA GROUP (FMA ASSURANCES) | FRANCE | Brokerage |
| 01/2019 | CVC | APRIL | FRANCE | Brokerage |
| 02/2018 | ARDIAN | INDEXIA / GROUPE SFAM | FRANCE | Brokerage |
| 01/2017 | GOLDMAN SACHS | GROUPE FINIZY (MEILLEURTAUX) | FRANCE | Brokerage |
| 02/2015 | ARDIAN | SIACI SAINT-HONORE | FRANCE | Brokerage |
| 04/2014 | EQUISTONE | FINAXY | FRANCE | Brokerage |
REFERENCES
Valuation range: EV €100–350M
Revenue range: €25–50M
EBITDA range: €5–25M
EV/Revenue range: 2x - 6x
EV/EBITDA range: 10x - 18x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Finaxy 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.
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