GROUPE FINIZY (MEILLEURTAUX) acquired by SILVER LAKE
Context
Silver Lake acquired a majority stake (~70%) in Groupe Finizy (Meilleurtaux) from Goldman Sachs Private Equity. The transaction was executed outside of a formal auction process, pre-empting a sale that was initially planned for March 2020 but halted due to the COVID-19 lockdown. The management team, holding ~30%, reinvested in the new structure. A governance transition occurred simultaneously. The deal was initially equity-funded by Silver Lake.
It is worth noting that the fund Goldman Sachs took control of Groupe Finizy through an LBO in 2017.
GROUPE FINIZY (MEILLEURTAUX), which reported an EBITDA margin of [members only] in 2019, is valued in this transaction at an EV/EBITDA multiple of 15x–25x, representing a premium to the average currently observed in the Financial Services sector (12.3x).
-> Deep-dive in Financial Services market trends
Target
Meilleurtaux is the leading French digital marketplace for financial services. Originally a pure mortgage broker, the group successfully diversified under previous ownerships into borrower insurance (Assurea), financial information (MoneyVox/cBanque), and savings (MonFinancier). At the time of the deal, mortgage brokerage represented only ~20% of revenue, positioning the group as a diversified FinTech.
Ent. Value
€500M–1.5bn
Equity Value
[members only]
Multiples
EV / Revenue
2x–6x
EV / EBITDA
15x–25x
EV / EBIT
[members only]
Historical Financials (EUR)
Other operations with GROUPE FINIZY (MEILLEURTAUX)
Other operations with GROUPE FINIZY (MEILLEURTAUX)
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 03/2021 | GROUPE FINIZY (MEILLEURTAUX) | ACTIVE ASSURANCES | FRANCE | Brokerage |
| 01/2017 | GOLDMAN SACHS | GROUPE FINIZY (MEILLEURTAUX) | FRANCE | Brokerage |
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 | ARDIAN | FINAXY | 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 |
Other operations with SILVER LAKE
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 05/2023 | SILVER LAKE | TEAMSYSTEM | ITALY | ERP, HR & Finance |
| 02/2021 | SILVER LAKE / NESTLE | IVC EVIDENSIA | UNITED KINGDOM | Vet Clinics |
| 07/2020 | SILVER LAKE | SILAE | FRANCE | ERP, HR & Finance |
REFERENCES
Valuation range: EV €500M–1.5bn
Revenue range: €150–250M
EBITDA range: €25–50M
EV/Revenue range: 2x - 6x
EV/EBITDA range: 15x - 25x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of GROUPE FINIZY (MEILLEURTAUX) by SILVER LAKE 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: silver lake