FINAXY
Acquired by
CINVEN
FINAXY acquired by CINVEN
Target
FINAXY
Acquirer
CINVEN
Context
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.
FINAXY, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN premium to the 14.0x average currently observed in the Financial Services sector.
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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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
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with FINAXY
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 07/2020 | ARDIAN | FINAXY | FRANCE | Brokerage | 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. |
| 04/2014 | EQUISTONE | FINAXY | FRANCE | Brokerage | Equistone Partners Europe acquired a majority stake in Finaxy Group (c.80%), replacing the founding family office. The transaction values the group between €50 million and €100 million. Notably, the initial acquisition was reportedly completed without the use of debt, providing a clean balance sheet to fund an ambitious consolidation plan. The founder remains the CEO and a significant shareholder. The primary objective of this partnership is to double the group's revenue by targeting larger independent brokers with EBITDA margins exceeding 20–25%. This deal marks a shift in Finaxy's scale, moving from small tactical acquisitions to transformative industrial mergers within the fragmented French insurance brokerage landscape. |
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