Paris, 17 may 2017 Apax Partners MidMarket, today announced it has entered into exclusive negotiations with TA Associates in order to enable the funds to Apax to become the new reference shareholder of the company CIPRÉS Insurance, a major player in France in the sector of complementary social protection for self-employed and SMALL businesses.
Download the free guide
Boost your gains
Created in 2000, CIPRÉS Insurance is a broker, a wholesaler of health insurance, which designs, underwrites and administers programs of health and welfare insurance dedicated to independent workers, to the managers and employees of small professional structures (VSES/SMES). CIPRÉS offers a complete range of products and services to secure their income, preserve their heritage, protect their health and protect themselves against the accidents of life. The company has a distribution network of over 4,000 independent brokers present in the whole of France. She has recorded a collection of 207M in 2016.
The transaction is expected to be completed in July 2017. It will result in the output of TA Associates, shareholder since September 2014, and by the increase in the stake of the management team. The Chairman of the Board Laurent Ouazana, the Director General, Sylvie Langlois, and their team have the goal of continuing to grow the business.
With the support of Apax Partners, an expert in the financial services sector, they intend to accelerate the development of the business through both organic growth and external growth, while capitalizing on the trusted relationships that the company has been able to establish with the French insurers, as well as on those that exist between the French contractors, and its broker partners.
The management team and Apax Partners share the ambition of making CIPRÉS Insurance, the insurer of French entrepreneurs.
* * * * * * * * * * * * * * *
Next appointment
5 September 2017 (after stock exchange) NAV as at June 30, 2017, and interim financial statements
8 November 2017 (after stock exchange) NAV as at September 30, 2017
About of the board of Altamir
Altamir is a listed company private equity (Euronext Paris-B, mnémo : ETA), created in 1995 and whose assets under management amounted to nearly 800 million. Its objective is to provide shareholders with capital appreciation over the term and dividends and regular, by investing in a diversified portfolio of assets, mainly unlisted.
The investment policy of the board of Altamir is to invest through and with the funds managed or advised by Apax Partners France and Apax Partners LLP, two leading private equity firm to take majority positions or reference in operations of LBO and capital development, and aim of the ambitious goals of value creation.
Altamir provides access to a diversified portfolio of companies with strong growth potential in the sectors of specialization of Apax (TMT, Retail & Consumer Goods, Health Services, Business Services & Financial Services) and market segments complementary (SMES in French-speaking Europe and large businesses in Europe, North America and in key emerging countries).
The company enjoys the status of SCR (Société de Capital-Risk) : it is exempt from tax on companies and its shareholders can benefit from tax advantages under certain conditions of storage of securities and reinvestment of dividends.
For more information : www.altamir.fr
Download the free guide
Boost your gains
