AnaCap, a private equity investor specialising in partnering with founders and entrepreneurial management teams across services, technology, and software within the European financial ecosystem, has announced that its portfolio company Yard Reaas, an independent platform providing investment, property management and valuation services for institutional investors and banks, has acquired VSA Property Group (VSA), an independent French company specialising in nationwide property management services.
This transaction follows the successful acquisitions of Tecnitalia, Avalon and Aegis in the Italian market and represents the first acquisition outside of Italy for Yard Reaas. It marks the first step in its international expansion following AnaCap’s investment in May 2024 and in line with the strategic plan developed together with the Founding Partners Emanuele Bellani, Paolo Datti, and Paolo Perrella.
Headquartered in Milan and with offices in Rome, Paris and London, Yard Reaas has more than 30 years of experience providing end-to-end investment services and property management solutions to a customer base composed of local and international institutional investors and banks.
Founded in Lyon in 2014, the VSA Group is a management business for institutional clients, banks, entrepreneurs, and family offices across the French market. With a turnover of around €11m, 80 employees, and approximately 500 managed mandates, VSA operates throughout France with local offices in the Île-de-France region and the South of France. VSA differentiates itself through its adoption of advanced technological solutions (such as the OCTOPUS platform for process digitisation and artificial intelligence), and its commitment to environmental, social, and governance criteria and Corporate Social Responsibility.
With this acquisition, Yard Reaas will have tripled EBITDA in around 18 months and will enter 2026 with a pipeline of further acquisitions planned in France and other core European markets. As of 1st January 2026, Yard Reaas will officially rebrand to RYZE Group (RYZE).
For its investment into VSA Group, Yard Reaas, also supported by Will Woodhead & Associé, was advised by KPMG (tax and financial due diligence), Deloitte (transaction structuring) and Orrick (legal aspects), while VSA Property was advised by Ansermaud & Trojani for legal aspects and by FIREX for financial aspects.
