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07/2016

STELLIANT acquired by NAXICAP PARTNERS

FRANCE Insurance EV €100–350M

Context

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. This operation allows the group to execute a definitive structural expansion of its service suite, particularly by building upon previous successful integrations like Geop and Eurisk. By incorporating the sponsor's strategic discipline, the organization is now positioned to leverage its recognized leadership in "repair-in-kind" solutions to drive deeper market penetration among primary European insurance carriers.

It is worth noting that the fund Apax Partners took control of Stelliant through an LBO in 2012.

STELLIANT, which reported an EBITDA margin of [members only] in 2015, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, representing a discount to the average currently observed in the Financial Services sector (12.3x).

-> Deep-dive in Financial Services market trends

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

10x–18x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2015
€100–200M
€10–30M
[members only]
2014
€100–200M
€10–30M
[members only]

Other operations with STELLIANT

Other operations with STELLIANT

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
10/2012APAX PARTNERSSTELLIANTFRANCEInsurance

REFERENCES

Valuation range: EV €100–350M

Revenue range: €100–200M

EBITDA range: €10–30M

EV/Revenue range: 1x - 3x

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 STELLIANT by NAXICAP 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: naxicap partners