UNOFI acquired by LA FRANCE MUTUALISTE & MALAKOFF HUMANIS

Carac entered into exclusive negotiations to acquire a majority stake of just under 70% in Cedrus & Partners. This transaction follows a highly competitive bidding process involving international private equity funds and wealth management consolidators, where Carac emerged victorious over finalists such as Corient and Anacap. The deal facilitates the complete exit of the firm's founders while allowing the current management team, led by the President and the CEO, to retain the remaining one-third of the capital by reinvesting their proceeds.

The independent wealth management group Rhetores completes its first LBO (Primary LBO) with IK Partners. The transaction values the firm at a staggering EUR310 million, setting a new benchmark multiple in the sector. The founder, Stephane Rudzinski, opens his capital to a financial sponsor for the first time to accelerate growth. The objective is to double the assets under management (AUM) by pursuing an aggressive buy-and-build strategy in the highly fragmented French market, targeting other CGP firms.

The strategic entry of PAI Partners into the capital structure of Cyrus Group signifies a major advancement for the independent wealth management sector in Europe. The strategic logic of this transaction hinges on a "platform-acceleration" maneuver, merging the target’s technical operational depth in wealth advisory with the sponsor’s extensive expertise in scaling global business services. This alignment equips the organization with the institutional backing and capital necessary to address the increasing demand for sophisticated, integrated support among high-net-worth clients facing the complexities of internationalization.

Groupe VYV has acquired a controlling interest in Groupe Patrimmofi, facilitating the exit of Andera Partners (via its Andera Expansion fund). This transaction follows a period of hyper-growth where the target quintupled its size and executed 18 strategic bolt-on acquisitions under the stewardship of private equity. The strategic rationale for the deal is the long-term institutionalization of the platform, shifting from a typical four-year investment cycle to a permanent capital structure provided by France's top mutualist insurer. This partnership is designed to accelerate the group's consolidation of the fragmented French wealth management market, targeting a tripling of Assets under Management from €3 billion to €10 billion by the end of 2029. For the management team, the entry of an industrial partner ensures the preservation of their "entrepreneurial association" model while providing the financial firepower to target larger, critical-sized firms. The deal was meticulously prepared through an anticipated exit process, ensuring a smooth transition to a partner capable of sustaining the target's high-speed expansion. This move highlights the growing trend of large insurance groups acquiring independent wealth management platforms to secure direct access to the high-net-worth savings and retirement market.

The transaction involves the acquisition of a majority stake in Groupe Allen by Qualium. The operation sees the exit of Parquest, which was a minority shareholder of the wealth management advisor since 2021. The deal is supported by a unitranche debt provided by Blackrock, which represents a leverage of 4.5 times the company's Ebitda. With Qualium's support, Groupe Allen aims to deepen its international footprint, particularly in European neighboring countries, and strengthen its Hedon Family Office division. The company targets an asset level of between 6 and 7 billion euros by 2030.

Apax Partners agreed to acquire the Professional Services business of Evelyn Partners. The transaction resulted from a competitive process where Apax outbid rival Bridgepoint. Upon completion, the business will be rebranded as S&W, returning to its historical roots. The strategic rationale for the carve-out is to allow both entities to operate as standalone businesses with dedicated management teams and specialized capital bases. Apax intends to use S&W as a primary platform to consolidate the fragmented UK accountancy mid-market through an aggressive M&A program. Evelyn Partners and S&W will maintain a strategic relationship to continue serving mutual clients.

Seven2 (formerly Apax Partners Development) has announced the signing of an agreement to acquire a majority stake in Olifan Group, alongside its management team. The transaction marks the exit of BlackFin Capital Partners, which had held a minority stake since 2021.

Crystal, a dominant player in the French wealth management and private banking sector, has announced that Goldman Sachs Alternatives, via its Private Equity team, has acquired a majority stake in the group. This high-profile transaction marks a new scaling phase for Crystal, with Seven2 (formerly Apax Partners) reinvesting to maintain a 25% stake alongside the management team.

Eurazeo, through its Mid-Large buyout team and co-investors, has finalized the acquisition of Eres Group for an investment exceeding �350 million. This transaction, completed in July 2024, marks the fifth deal for the Eurazeo Capital V (ECV) fund, which is now over 40% deployed.

Groupe Premium, a French leader in wealth management and insurance solutions, has secured a strategic investment from Blackstone via its Tactical Opportunities fund. Existing shareholders Eurazeo and Montefiore remain committed to the group, with Eurazeo retaining its majority position. This capital injection, supported by new debt financing, aims to accelerate the company's international expansion across Europe and fuel its ambitious organic and external growth strategy.