Eurazeo will acquire the remaining shares of Idinvest Partners, a European private equity firm focused on the lower and middle-market segments. No financial terms were disclosed. The deal will close before the end of the year. Eurazeo currently holds an 80 percent stake in Idinvest Partners.
PARIS, Sept. 10, 2020 /PRNewswire/ — Eurazeo, which already holds a 80% stake in the capital of Idinvest Partners, announces it has concluded an agreement to accelerate the acquisition of the remaining ordinary shares from Christophe Bavière, Benoist Grossmann and their partners.
This acquisition, which according to the terms of the agreement signed in 2018 was to be completed in successive stages in 2021 and 2022, consolidates the organization of the Group to promote its strategic project. It will enable every company in the portfolio to take full advantage of Eurazeo’s range of financial and human resources and allow the new entity to further make use of its teams’ strength and complementarity in investment, fundraising and operational expertise.
The acquisition will be completed by the end of 2020. The payment will be made primarily in cash. A portion of the Idinvest shares will be contributed to Eurazeo, which will result in a limited capital increase representing less than 1% of Eurazeo current share capital. The specific terms of the operation will be set out in detail at a later stage.
Virginie Morgon, CEO of Eurazeo, said,
The acquisition of all of the capital of Idinvest is a logical step. The decision to accelerate the operation confirms the mutual ambition of Idinvest’s partners to fully engage in the Group’s strategic project and become a European leading benchmark for companies at every stage of their development. With this operation, Eurazeo is offering its shareholders, partner investors and the management teams of our portfolio companies the strength of a unique and integrated Group that has diversified into four asset categories and is made up of expert teams in 10 countries. I am delighted that we have been able to accelerate this operation.
Eurazeo is a leading global investment company, with a diversified portfolio of €18.5 billion in assets under management, including nearly €12.9 billion from third parties, invested in over 430 companies. With its considerable private equity, venture capital, real estate, and private debt, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.
Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, London, Luxembourg, Frankfurt, Berlin and Madrid.
Eurazeo is listed on Euronext Paris.
ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA