IK Investment Partners and Five Arrows Principal Investments (FAPI) have acquired I@D Holding, a services platform dedicated to the first network of independent real estate agents in France.
The founders Malik Benrejdal, Jade Benrejdal and Jerome Chabin as well as NAXICAP Partners, shareholder since 2012, are reinvesting 37 per cent alongside IK and FAPI.
Founded in 2008 with the ambition to offer an alternative way of buying and selling residential property, I@D is a fast-growing digital platform offering a large range of value-added support services to independent real estate agents. The company has grown to become the largest network in France with 3,200 local agents and over 11,800 transactions intermediated last year. I@D posted revenues of EUR80 million for the year ending June 2016.
“We are delighted to have the opportunity to contribute to the future success of I@D. We have been very impressed with the company’s achievements so far and believe that I@D has tremendous growth potential with further market penetration in France, expansion of its real estate service offering and potential development in selected countries in Europe. We will support the management team in the implementation of its strategic plan, and aim to preserve the entrepreneurial spirit of the company,” says Dan Soudry, partner at IK and adviser to the IK VII Fund.
“We are very proud to support I@D in the next stage of its development. We are looking forward to collaborating with the management team and helping the company to further scale its operations in France and accelerate its recent international expansion,” says Emmanuel Roth, co-managing partner at Five Arrows Principal Investments.
“We are very pleased to welcome IK and Five Arrows who share our long term strategic vision for the business and plan to support our successful track record of delivering strong growth of the network domestically, as well as expand to adjacent segments or new geographies,” says Malik Benrejdal, CEO of I@D France.
“Since 2012, we have appreciated the quality of the management and have recorded the relevance of I@D’s business model whose turnover has increased from EUR23 million to EUR80 million. We are convinced of the potential of development in France that is still high and of the success of the model’s duplication worldwide. That’s why NAXICAP Partners is very pleased to support I@D in this new project,” says Laurent Sallé, managing partner at NAXICAP Partners.
