International private equity firm Cinven has entered into exclusive negotiations to acquire the Finaxy group (Finaxy), a French multi-specialist insurance broker, from $168bn global private investment house Ardian.
Financial details of the transactions, which will see Finally Founder and CEO Erick Berville make a significant reinvestment alongside Cinven, have not been disclosed.
Established in 2009 and headquartered in Paris, Finaxy is a leading player in the French insurance brokerage market with over 330 employees. Through strong organic growth and a successful buy-and-build strategy, including more than 30 acquisitions in France, the Company has established a strategic position across its three specialised divisions: Enterprise”, which is focused on the insurance of major Property and Casualty (‘P&C’) and Health and Protection risks for businesses; Affinities, which specialises in niche insurances; and Solutions, which manages and develops the group’s major strategic and institutional partnerships.
Ardian acquired a majority share in Finaxy in 2020.
Cinven would be investing out of its Strategic Financials Fund, which specialises in the financial services industry.
Alexis Lavaillote, Managing Director Expansion at Ardian noted:
Centerview Partners acted as financial advisor to Cinven on the transaction, which is subject to regulatory approvals and other customary closing conditions.
