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10/2012

STELLIANT acquired by APAX PARTNERS

FRANCE Insurance EV €100–350M

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 [members only] in 2011, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the Financial Services sector (12.3x).

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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

€100–350M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2011
€100–200M
[members only]
[members only]
2010
€100–200M
[members only]
[members only]

Other operations with STELLIANT

Other operations with STELLIANT

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
07/2016NAXICAP PARTNERSSTELLIANTFRANCEInsurance

REFERENCES

Valuation range: EV €100–350M

Revenue range: €100–200M

EV/Revenue range: 1x - 3x

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: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Acquirer: apax partners