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Equistone acquires majority stake in Finaxy Group

17 Apr. 2014

Equistone Partners Europe Limited (“Equistone”), one of Europe’s leading mid-market private equity managers, today announces the acquisition of a majority stake in Finaxy Group (“Finaxy” or “the Group”), alongside the Group’s Chairman, Erick Berville.

Finaxy is a leading multi-specialist insurance broker with revenues of €300 million (premiums collected). The Group employs 170 people across 19 brands, providing commercial and personal insurance services to 8,000 companies and 55,000 individuals. 

Founded in 2008 by Erick Berville, previously Chairman of the Board and CEO at APRIL Group, Finaxy has undergone accelerated growth with the support of a family office in 2009, which provided the funding for an initial acquisition and has supported a further 16 acquisitions over the past five years. 

The acquisition of the family office’s stake in Finaxy by Equistone marks the beginning of a significant new stage for the Group as a business. The deal has the full support of Finaxy’s management team, which has also approved the proposed strategy for the future growth of the Group. 

With Equistone’s support, Finaxy will continue to execute its acquisitive growth strategy in niche markets, both in France and internationally. Currently the 12th largest French insurance broker, Finaxy has an ambition to break into the top 10 and become a market leader in terms of innovation and quality of service. 

Erick Berville, Chairman of the Finaxy Group: “Choosing Equistone as a financial partner was a must from our first meeting. We share the same philosophy around governance and are both aligned in our vision for Finaxy’s future development. When it comes to working in a culture of trust, we believe it is essential to have a long-term investor supporting us and one which will also respect the independence of our managers. Our shared values will help to ensure the future success of the  Group.” 

Guillaume Jacqueau, Managing Partner of Equistone: “Finaxy has experienced exceptional growth since it was founded by Erick Berville in 2008. We feel that it is ideally positioned to become one of the leading players in the French insurance brokerage sector. In our view, Finaxy’s entrepreneurial culture, coupled with the strong commitment of its management team, will provide the foundation for the future success of the Group.”

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