mynth
10/2012

STELLIANT acquired by APAX PARTNERS

FRANCE Insurance EV 100M - 350M EUR

Context

The acquisition of Texa by Apax Partners represents a major turning point in the professionalization of the French loss adjustment market. The strategic rationale for this transaction centers on an "industrial-consolidation" play, merging the group's industry-leading technical operational depth in P&C expertise with the sponsor's extensive expertise in executing high-velocity buy-and-build strategies. This structural alignment provides the organization with the institutional capital and strategic hardware required to address the increasing complexity of the "mass-claim" and technical risk segments. This operation allows the organization to execute a definitive structural expansion of its service suite, particularly by moving into upstream and downstream activities such as third-party management and in-kind repairs.

STELLIANT, which reported an EBITDA margin of LOGIN in 2011, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Financial Services sector (12.6x).

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

Stelliant (ex Texa) is a France company specialized in Claims Management & Loss Adjustment Services. The organization has established a global reputation as a primary enabler for insurance carriers, focusing on the development of high-fidelity loss adjustment and technical services. At the heart of their operations is a philosophy of technical operational depth, merging traditional insurance expertise with specialized real estate diagnostics, including asbestos, lead, and energy performance assessments. They differentiate themselves through a "full-service" value proposition that covers the entire claim lifecycle, from initial damage assessment to in-kind repairs and management.

Ent. Value

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Equity Value

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Multiples

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EV / EBITDA

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EV / EBIT

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Historical Financials (EUR)

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2011
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2010
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Other operations with STELLIANT

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
DateAcquirerTargetCountrySectorDeal Context
07/2016NAXICAP PARTNERSSTELLIANTFRANCEInsurance

The fifth LBO of Texa represents a major turning point in the organization's trajectory, signaling a shift toward industrialized claims management and real estate services. The strategic rationale for this transaction centers on an "external-growth" play, merging the group’s industry-leading technical operational depth in loss adjustment with the sponsor’s extensive expertise in executing high-velocity build-up strategies. This structural alignment provides the organization with the institutional capital and strategic hardware required to address the increasing complexity of the property and casualty insurance market

REFERENCES

Valuation range: EV 100M - 350M EUR

Revenue range: 100M - 200M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of STELLIANT by APAX PARTNERS are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Acquirer: apax partners