Eurazeo, a global investment company listed on Euronext Paris, and growth investment firm Idinvest Partners have completed an agreement that will create a private equity leader with over €15 billion under management and serving the growth needs of companies in Europe and North America.
Under the terms of this deal, IDI, an investment company listed on Euronext Paris, has undertaken to sell its entire investment in Idinvest (i.e 51% of the share capital) to Eurazeo, which will subsequently own about 70% of the company, next to the Idinvest’s management who will retain around 30%.
The transaction represents a total investment for Eurazeo of approximately €230m, setting an enterprise value of €310m on Idinvest. Completion is subject to regulatory, competition and other conditions precedent. The parties have also signed intentions of buying and selling, with a view to Eurazeo gradually acquiring the remaining shares held by Idinvest’s management over the coming years.
Idinvest finances companies at different stages of the growth curve across France and Europe, its business lines therefore complementing those of Eurazeo.
Idinvest’s Venture and Growth Capital teams make equity investments in young, innovative companies with growth potential such as Deezer, Criteo, Talend, Winamax and Vestiaire Collective. Idinvest’s Private Debt business finances organic and external growth projects for SMEs and mid-caps by providing senior or subordinated debt. Finally, the Mandates and Dedicated Funds team manages private equity fund investment programs and performs secondary transactions and direct co-investments.
Idinvest, which manages almost €7 billion and has nearly 90 employees with offices in Paris, Frankfurt, Madrid, and Shanghai, will retain total management autonomy and an unchanged management team.
Eurazeo will invest in the funds managed by the Idinvest teams.