FDC is advising Jakala in the acquisition of SoyHuCe
Paris, on October 23, 2023
Jakala, a Martech leader supported by Ardian Buyout, has acquired a majority stake in SoyHuCe, a leading expert in leveraging data through proprietary AI algorithms allowing CMOs and executives to take smart decisions swiftly, automate repetitive tasks and free up for creative thinking.
Founded in 2013, SoyHuCe specializes in AI-powered management solutions. Today, this expertise enables the company to support a broad portfolio of customers, across the retail, utilities, public sector, travel and entertainment, and financial services industries.
SoyHuCe employs 50 experts in Paris and Caen, and combines expertise in data, algorithmic (data science, ML, IA) and app / web design to provide turnkey, data driven solutions to CMOs and executives.
JAKALA, leader in data-driven consulting, pilots the transformation of its customers by combining data, technology and multidisciplinary skills, strengthens its presence in France and its AI expertise by finalizing the acquisition of a majority stake in SoyHuCe.
Guillaume Cardon, General Manager of Jakala France, states, "Nicolas Guy, the founder and CEO SoyHuCe has demonstrated an impressive ability to think, design and build highly innovative solution, leveraging data and proprietary algorithm to support executives in taking strategic decisions. Nicolas is furthermore an inspiring leader, and we are extremely pleased to welcome him and his team in the JAKALA group. We believe that their unique expertise will unlock meaningful value enablers for our clients’ base. We are extremely excited to start imagining and implementing new use cases and unleash the power of AI and data for our partners. "
Guillaume Piette, Managing Partner of Financière de Courcelles, concludes: « We are delighted to support once again the Jakala team in their development in France. This transaction reflects the expertise of Financière de Courcelles in assisting companies in entering new markets and our growing experience in the IT services sector and an emerging focus on AI. »
Press contact: HDemirdjian@FDC-International.com
About Financière de Courcelles (FDC)
La Financière de Courcelles is an independent investment bank specialized in merger and acquisition advisory services. As a founding member of the Global M&A Partners network (comprising over 450 M&A professionals across more than 35 countries), FDC has a strong capacity to provide international support. FDC advises companies on mid-cap transactions across various sectors of the economy, thanks to its dedicated teams of specialists.
About Jakala
Jakala is an integrated ecosystem of diverse talents and innovative business solutions that come together to create value for organizations, individuals, and society. Since its establishment by Matteo de Brabant in 2000, the company has grown into a multifaceted, highly skilled, and international team. In 2021, Ardian acquired a majority stake in Jakala. Today, Jakala is the leading Martech company in Europe, headquartered in Milan with offices in thirteen countries worldwide. Their data-driven approach, supported by a winning formula of strategy, innovation, technological transformation, engagement, and activation, is the cornerstone of their work.
FDC advises the shareholders of Automobile Magazine in the course of the sale to Webedia Group
Paris, June 5, 2023,
Webedia, a leading media company, has announced its acquisition of L'Automobile Magazine, a prominent automotive print publication and the leading digital advertising agency for the French automotive industry.
Founded in 1946, L'Automobile Magazine is the oldest monthly automotive magazine in France and the only independent automotive brand in the country. In 2018, the magazine was taken over by its management team and a financial partner, initiating its digital transformation with the acquisition of NewCom, an advertising agency, under the leadership of a digital-native management team.
Following a successful turnaround of its traditional business, the company transformed its business model by merging its advertising agency NewCom with its publishing activities, creating the leading Trading Desk in the automotive market.
Webedia aims to consolidate its position as a leader in the entertainment industry through three development strategies: geography, theme, and volume. The acquisition of L'Automobile Magazine allows Webedia to enter the automotive vertical which displays strong interest due to (i) the size and advertising needs of the automotive market, (ii) market specificities which allow the rapid establishment of a leadership, (iii) potential synergies with other products and offerings of Webedia, and (iv) international expansion opportunities.
Nicolas Le Gall, CEO of L'Automobile Magazine, stated, "The integration of L'Automobile Magazine into the Webedia Group is a unique opportunity to continue developing our digital presence and benefit from Webedia's adtech platform. We will expand our audiences, increase our reach, and enhance our offerings by leveraging Webedia's expertise, particularly in social media, influencers, video, and content-to-commerce."
Guillaume Piette, Managing Partner at Financière de Courcelles, adds:
« We are delighted to have advised Nicolas Le Gall and his team in the course of this new stage of Automobile Magazine’s corporate history. This transaction showcases Financière de Courcelles’ know-how in managing deals with strategic partners and the unique value added of our advice, notably with former executives who members of our Club, notably Didier Quillot, a well-known executive in the Media sector. This new deal strengthens further our expertise in the digital and Media sectors. »
Press: HDemirdjian@FDC-International.com
About Financière de Courcelles
Financière de Courcelles (FDC) is an independent investment bank specializing in mergers and acquisitions advisory services. As a founding member of the Global M&A Partners network (comprising over 450 M&A professionals in more than 35 countries), FDC has a strong capacity to advise international transactions. FDC advises companies in mid-cap operations across all sectors of the economy through its dedicated teams of sector experts.
About Automobile Magazine
L'Automobile Magazine is the only independent automotive media brand in France, established since 1946. It produces premium content with passion and expertise and distributes 600,000 magazines per year, reaching 10 million readers. The brand also operates a website with over 30 million unique visitors (UV) and generates 165 million page views per year. With its historical publishing activities, L'Automobile Magazine successfully underwent digital transformation in just 18 months, turning a traditional press player into a profitable premium digital brand over the past two years.
About Webedia
Webedia is a media-tech company and one of the major global players in online entertainment. With 15 years of expertise in digital audience knowledge and media publishing (with 250 million unique visitors per month across websites such as AlloCiné, Xataka, Adorocinema, Sensacine, Filmstarts, GameStar, JV, MGG, Tudo Gostoso, 750g, Directo al Paladar, Minha Vida, etc.), the group brings together creators, producers, broadcasters, and brands to develop a unique content production and distribution process across all platforms. Operating in more than 15 countries, Webedia structures its activities around complementary divisions: content distribution, media networks, creator management, and production studios.
TSG acquired JMC SOLAR
FDC continues its support of TSG - the European leader in technical services for responsible mobility solutions - in its development plan by advising the group during the acquisition of JCM SOLAR (France), a specialized actor in the design, installation, and maintenance of photovoltaic power plant projects for professionals
Paris (France), July 6th 2023,
TSG, the European leader in technical services for responsible mobility solutions for public and private energy distribution infrastructures for mobility, is acquiring JCM SOLAR, a company based near Angers, France, specializing in the design, installation, and maintenance of photovoltaic power plant projects for professionals.
JCM SOLAR stands out in the European market with its innovative solutions of lightweight solar panels, offering great adaptability for seamless integration into various applications. In addition, JCM SOLAR ensures continuous maintenance of its installations, thus guaranteeing long-term optimal performance for its clients.
JCM SOLAR relies on a team with strong electrical expertise that will reinforce TSG France's workforce in its advanced transition towards electric mobility.
With the acquisition of JCM SOLAR (announced simultaneously with the acquisition of EEG, based in Johannesburg, South Africa, and also specialized in solar energy), TSG concludes its 20th acquisition in 2 years and consolidates its position in the solar energy market. TSG teams are already engaged in international-scale photovoltaic projects, further enhancing its leadership in responsible mobility in Europe and Africa. The Group now offers a comprehensive range of integrated solutions, combining the installation of solar panels on parking shelters or rooftops with the deployment of stationary batteries and electric charging infrastructure.
“These acquisitions mark a new milestone in TSG’s commitment to developing increasingly comprehensive and energy-efficient technical solutions, thanks to the expertise of its engineers and technicians,” says TSG Chairman and CEO Jean-Marc Bianchi.
«By integrating these two specialized companies, we are strengthening our ability to supply professionals in the field of mobility, whether they are energy suppliers, major distributors, manufacturers or professional fleet operators. We provide them with complete, innovative solutions to support them with turnkey solutions (design, installation and maintenance) in their energy transition towards responsible mobility».
Financière de Courcelles is delighted to have advised on this transaction, which enables TSG to strengthen its foothold in France and reaffirm its strong aspirations in the realm of new energies for mobility.
For the past 3 years, Financière de Courcelles has been supporting TSG in its European external growth development plan through its multi-buy-side offering, and this transaction marks the 8th one advised by FDC.
Press contact : hdemirdjian@fdc-International.com
About Financière de Courcelles (FDC)
Financière de Courcelles is an independent investment bank specializing in mergers and acquisitions advisory. As a founding member of the Global M&A Partners network (comprising over 400 M&A professionals in more than 35 countries), FDC has a strong international support capability. FDC advises companies in Mid-Cap transactions across all sectors of the economy through its dedicated teams of specialists.
About TSG
TSG, the European leader in technical services for responsible mobility, is a key enabler of the energy transition for mobility. With an unequalled presence in 30 countries, TSG designs, builds and maintains all types of energy distribution infrastructures for mobility: electric vehicles charging network, LPG/LNG, hydrogen and also fuel/biofuel service stations.
TSG offers a one-stop-shop (equipment sale, projects and maintenance services, digital payments and systems) for innovative energy and retail solutions. TSG serves all types of clients, in the public and private sectors from local authorities and retail to gas station networks and companies fleet installations.
TSG employs over 5,500 people and its annual revenue reached €940 million at the end of April 2023. TSG’s technicians are uniquely skilled, with recognized expertise in all new mobility energy solutions: electric vehicles, hydrogen, biofuels and natural gas as well as related systems and payment services.
TSG is a privately-held company, owned by its management and the entrepreneurial investment firm HLD.
Sale of VMI to VOLUTION
VMI France's leading developer and manufacturer of Ventilation Mécanique par Insufflation (VMI ®), joins Volution UK leader in ventilation
Paris (France), 21 th April 2023,
Financière de Courcelles advised the shareholders of Ventilairsec, a company founded in 1986 and a leading developer and manufacturer of Ventilation Mécanique par Insufflation (VMI®) systems in France, in its merger with the UK-based listed group Volution.
Ventilairsec is a pioneer and leader in the field of indoor air quality (IAQ), and thanks to its strong development over the last few years, Ventilairsec offers superior performance compared to traditional extraction ventilation systems. With a significant growth in turnover of around €10 million by 2022 and a good profitability, Ventilairsec is an innovative company that offers products with differentiating features of fine particle and pollen filtration, connection to heating systems, humidity and CO2 control, and connectivity.
As IAQ requirements and standards are only at the beginning of their definition and deployment at a European level, Michèle Potard - Ventilairsec's managing shareholder - wished to give the company the means to achieve its ambitions by favouring a sale to a leading UK and European manufacturer.
"This project gives Ventilairsec new perspectives in the residential and commercial ventilation market and prepares it for the international challenges of indoor air quality. Volution is a first class partner, with the industrial and commercial resources to pursue Ventilairsec's strategy. I am confident that the Ventilairsec team will continue to develop the company with this new ownership and management" says Michèle Potard, President of Ventilairsec.
Michèle Potard expressed her desire to accompany this transition and then to pursue personal activities. Michèle Potard led the recruitment of a new qualified Managing Director with Volution to continue the company's development.
With a turnover in excess of £300 million, Volution is the UK's leading ventilation company and has a presence in many EU countries and Australasia. Within Volution Ventilairsec will continue to develop innovative products using VMI technology to improve indoor air quality while benefiting from industrial and commercial synergies.
The Financière de Courcelles team is delighted to have accompanied the shareholders of Ventilairsec in this cross border operation of industrial backing to an international listed group.
TSG continues its development and acquires Werner Stuhr, a company based in Germany and specialized in electrical installations.
FDC, in association with its partner IOM of the GMAP network, continues to support TSG the European leader in technical services for responsible mobility solutions - in its development strategy through the acquisition of Werner Stuhr (Germany), a company specialized in electrical services
Paris (France), December 05th 2022
TSG, the European leader in technical services for responsible mobility solutions, is pleased to announce the acquisition of Werner Stuhr, a company specialized in electrical services based in Lübeck-Krummesse (Northern Germany).
Werner Stuhr is specialized in broadband installation including civil engineering, traditional electrical installations, and e-mobility. They are also involved in the eHighway project in Northern Germany.
Werner Stuhr generates €20m of turnover relying on 130 employees with a solid electrical expertise that will reinforce TSG Germany’s electrical workforce and benefit to its customers.
With this acquisition, TSG is closing its 10th acquisition in electric mobility and accelerates its development in new energy for mobility where electricity is playing a major role. TSG confirms it strong willingness to comfort its leading position on technical services for electric mobility in Europe and accelerates the implementation of its strategy to enable the responsible mobility transition by developing new energy for mobility, quality infrastructures and to offer a one-stop shop for innovative energy and retail solutions.
“TSG is rapidly pursuing it strategic transformation where external growth is playing an accelerator role. Werner Stuhr is nicely complementing both our geographical footprint and our needs for highly skilled technicians in Germany, with the global objective to always better support our customers in their energy transition to responsible mobility. On behalf of the whole TSG Group, I wish a warm welcome to Hans-Joachim Bülk, Werner Stuhr ‘s CEO and to his entire team” – says Jean-Marc Bianchi, Chairman and CEO of TSG.
Both members of the international network Global M&A Partners (GMAP), Financière de Courcelles (France) and IOM (Germany) are proud to have advised TSG on this cross-border transaction, which allows TSG to strengthen its presence in Germany and to affirm its ambitions in new energies for mobility.
Financière de Courcelles is advising TSG in its European development plan of external growth, through its multi-buy-side offer.
Contact press: hdemirdjian@fdc-International.com
About Financière de Courcelles (FDC)
Financière de Courcelles is an independent investment bank specialising in Mergers and Acquisitions. Founding member of the Global M&A Partners network (more than 400 M&A professionals and more than 35 countries covered), FDC has a strong capability to support its clients internationally. FDC advises companies on mid-cap transactions in all sectors of the economy thanks to its dedicated teams of specialists.
About TSG
TSG, the European leader in technical services for responsible mobility solution, is a key enabler of the energy transition for mobility: With unequalled presence in 30 countries, TSG designs, builds and maintains all types of energy distribution infrastructures for mobility: electric vehicles charging network, GPL/LNG, hydrogen and also fuel / biofuel service stations. TSG offers a one-stop-shop (equipment sale, projects and maintenance services, digital payments and systems) for innovative energy and retail solutions. TSG serves all types of clients, in the public and private sectors from local authorities and retail to gas station networks and companies fleet installations. TSG has over 4,500 employees, and revenue over €700m. TSG’s technicians are uniquely skilled, with recognized expertise in all new mobility energy solutions: electric vehicles, hydrogen, biofuels and natural gas as well as related systems and payment services. TSG is a privately-held company, owned by its management and the entrepreneurial investment firm HLD.
FDC advises Schertz Group in the sale of of the Audition Conseil brand and the Luz Audio buying center to the group of hearing centers LMC Audio
Paris (France), October 18th, 2022 – Schertz Group has reached an agreement to sell the Audition Conseil brand and the Luz Audio buying center group to the LMCA group (LMC Audio). LMCA is the largest group of hearing aid practitioners operating under the Audition Conseil banner with 80 centers in the South-East of France.
This transaction is part of a consolidation of the French hearing aid market, which is the largest in Europe with total revenues of more than €2bn in 2021 (with average annual growth of +8% over 10 years). It aims to create a vast network of independent local experts and to offer patients a sustainable alternative to the sector's major international players. This transaction will further strengthen the Audition Conseil network by enabling the centers to combine operational excellence, economic efficiency and decision-making autonomy to serve their patients.
The Schertz Group is a family-owned group that operates in the optical market through its buying center and services, which brings together more than 2,000 independent opticians under the LUZ OPTIQUE banner, and through its own optical stores (37 stores). With the sale of Audition Conseil and Luz Audio, Schertz Group intends to concentrate on developing its optical activities.
"For more than 30 years, the Audition Conseil brand has been able to promote and defend the values of independents. In a market facing major challenges, I have full confidence in the new presidency and in its will to maintain this course, with ambition and responsibility", explains Jérôme Schertz, General Manager of the Schertz Group.
"At a time when major international players are adopting an integrated and vertical approach to the business, this operation will strengthen the position of independents with a powerful network close to its patients that ensures the freedom to practice in accordance with its values and with all manufacturers," concludes Stéphane Bardet, founder and president of LMCA
Financière de Courcelles is pleased to have been able to assist and support Schertz Group in the successful outcome and optimization of this transaction. This transaction also demonstrates the ability of Financière de Courcelles' teams to be a key advisor in the particularly booming market of healthcare brands.
Sell-side Advisors:
FDC (M&A): Henri Mion, Julien Cadiou
Fidal (Legal): Manfred Blot, Christophe Oliveira
iPilote (Finance): Christophe Oswald
Buy-side Advisors:
Jean-David Sultan (M&A)
McDermott Will & Emery (Legal): Herschel Guez, Elodie Pieraggi
Financing : Caisse d’Épargne (CEPAC)
Equance accelerates its development on the French market with the acquisition of Segefi
Paris (France), October 18th, 2022,
Following Calcium Capital’s investment in the Company at the end of May 2022, Equance carried-out its first acquisition with Segefi, a French wealth management company.
In 1997, Yves Coudrin founded Segefi, a wealth management firm based in Strasbourg. Jérôme Jabaud joined the company in 2011 to develop the business in Paris. Segefi now employs 7 people and has a sound reputation in Eastern France and in Paris. The Company is recognized for its expertise in structured and private equity products and has built overtime a portfolio of loyal and VHNI clients composed of families, entrepreneurs as well as small- and medium-sized company’s managers and shareholders.
Founded in 2005 and headquartered in Montpellier (France), Equance is the leading wealth management company for French expatriates. The Company’s distribution network is composed of c. 50 consultants based in Asia, Oceania, North & South America, Europe, Africa, Middle East as well as in France (Paris and Occitania). Equance’s clients live in more than 100 different countries around the world.
With the acquisition of Segefi, Equance fulfils its ambition to strengthen both its territorial coverage in France and its business expertise through external growth.
Yves Coudrin, Founder of Segefi: “We chose Equance over the many players who approached us, because of its people, the common values we share with them and its attractive project for the team. Joining forces with Equance was the obvious and logical choice for Jérôme, the team and myself ! I now look forward to investing my time and energy in this extremely exciting project for the next years to come.”
Jérôme Jabaud, Managing Director of Segefi Capital: “Our partnership with Equance will allow us to become a key player in France. I am very proud to be part to this amazing project and I will use all my skills to make it a true success. We have had a great run with Yves and we are now deeply convinced that the best is yet to come.”
Olivier Grenon-Andrieu, Founder of Equance: “When I first met Yves and Jérôme, I immediately knew that we were meant to work together. We share a common entrepreneurial spirit and both of our teams are well-known for their professionalism and expertise. Besides, Yves and Jérôme have centered their company around a core value that is essential to me: caring. Our business project is very exciting and Segefi’s team will be our main driving force for the development in France. We are very happy and proud that they chose to join Equance.”
Didier Bujon, CEO of Equance and Chairman of Segefi: “This merger operation with Segefi is the first step of our external growth strategy and we intend to respect the DNA of each company. The main objective of this partnership is to strengthen the resources we provide our consultants with (IT, Marketing, regulatory etc.) while preserving the business methods that have contributed to our development so far. With this acquisition, we will be able to provide all of our clients with a more complete offer.”
Financière de Courcelles is delighted to serve Equance in this first major acquisition. This mission reflects Financière de Courcelles' specific Augmented M&A approach which combines (i) strong sector expertise in FIG and (ii) long-term client support to accelerate value creation.
List of advisors:
Buy Side:
- Company: Equance Gestion Privée Internationale (Olivier Grenon-Andrieu, Didier Bujon)
- PE fund: Calcium Capital (Cédric Duchamp, Antoine Gravot, Louis Michel)
- Financial advisor: Financière de Courcelles (Michael Petit, Christophe Brière, Julien Page)
- Legal counsel: Eleom Avocats (Didier Puech)
- Financial due diligence: Exco VFA Audit (Jeanne Gaye, Maimouna Diallo)
- Tax due diligence: Exco VFA Audit (Jacques Tardy)
- Legal due diligence: Exco VFA Audit (Catherine Durrieu, Céline Giroire)
Sell Side:
- Company: Segefi (Yves Coudrin, Jérôme Jabaud)
- Financial advisor: PwC (Antoine Grenier, Adrien d’Alincourt, Quentin Duprez, Juliette Courret)
- Legal counsel: Avenue 52 Avocats (Julien Brech) and Ixis (Xavier Sennes)
- Vendor Due Diligence: Oderis (Aurélien Vion, Eddy Chagué)
Howden continues its expansion on the French market by acquiring Seasecure
Paris (France), 5 October 2022,
Financière de Courcelles has advised Howden Group to acquire Seasecure, the last remaining independent marine broker in France. This operation represents the third acquisition in France for Howden Group after CRF Conseils (Financial Lines specialist) in July 2022 and Théorème (Motor fleet, IARD and Employee Benefits broker) in October 2022.
Founded in 1994, Howden Group is a leading international insurance distribution group with core activities of retail, specialty and reinsurance broking. With more than 12,000 employees, the company is headquartered in the United Kingdom and operates in 90 countries and 45 companies held in Europe, Asia, Africa, Latin America, Pacific and Middle East.
Howden Group established in France in February 2022 following the appointment of Nicolas Aubert, ex-director of AIG France and ex-director of Willis Tower Watson UK, as CEO of Howden France. The group aims to become one of the leaders of the French brokerage market and a European alternative to the large North American companies on all the B2B insurance products.
Founded in 2008 and headed by Jean Brossollet, Seasecure comprises two operating entities, Seasecure and Guian, having acquired the latter, a Le Havre-based marine broker, in 2018. Together, Guian and Seasecure serve shipowners, charterers, operators, and all actors in the supply chain. Guian’s expertise is particularly recognised in the fields of merchant and service vessels, inland waterways and French & international fisheries insurance.
This latest transaction follows Howden France’s recent acquisitions of C.R.F. Conseils and Théorème, reflecting its strategy to materially broaden its product offering and to deliver more choice for French clients. These partnerships also accelerate the delivery of Howden’s global specialty expertise into local markets.
Nicolas Aubert, CEO, Howden France, comments: « Seasecure and Guian provide the talent, technical knowledge and skills that will allow us to both expand and enhance our platform in France. Their specialist positioning is perfectly aligned with our strategy for Howden France. Building on the acquisitions of C.R.F and Théorème, this latest deal reaffirms our ambition to build a platform based on leading experience and expertise, which will welcome the best talents in the French insurance market. »
Jean Brossollet, General Manager, Seasecure, says: « Howden’s ambition is to be one of the leading brokers in France, with a strong presence in the country and a range of services in the “specialties”. By combining our expertise and our energy to develop an ambitious - and necessary - alternative in the French market, we will be able to offer our clients a comprehensive range of services. With the acquisition of Seasecure and Guian, Howden is laying the foundations of a Marine branch that will be significant in France. This combination opens up tremendous opportunities for our clients and our teams! »
The FDC team is delighted to have supported Howden Group in this third acquisition. This mission reflects FDC’s specific M&A approach which combines (i) strong sector expertise and (ii) advisory services to large corporate groups in their multi-buy-side growth strategy.
STAKEHOLDERS IN THE OPERATION
Howden Group side:
- Company: Howden France (Nicolas Aubert, Adrien Laplane) ; Howden Group Corporate Finance and Legal (Dimitri de Lamazière, William O'Grady, Steph Ayre)
- Financial advisor: Financière de Courcelles (Michael Petit, Bertrand de Saint Remy, Dominique Guerit, Charles Delbarre, Hamza Lahna)
- Legal advisor: Gide Loyrette Nouel (Hugues Scalbert, Pierre-Guillaume Sagnol)
- Financial due diligence: Mazars (Zied Loukil, Jessy Coulon, Andres Roldan Diaz)
- Tax due diligence: Mazars (David Chrétien, Valentin Scotti Volpe)
Seasecure side:
- Company: Seasecure (Jean Brossollet)
- Financial advisor: Somexo (Myriam Cheloua, Bernard Robbino)
- Legal advisor: Jaberson Avocats (Charles Jamet, Damien Billet, Clémence Bonifacio, Astrid Samuelian, Maxime Santucci)
Compagnie Nationale de Navigation (CNN) sells Héli-Union to Sabena Technics
Paris (France), 6th October 2022,
Financière de Courcelles advised Compagnie Nationale de Navigation (CNN) on the sale of Héli-Union to Sabena Technics.
With 350 employees, Héli-Union is a European leader in the support and maintenance of helicopter fleets, serving governments and private clients worldwide. Currently active in six countries, Héli-Union is also a specialised air operator with its own fleet of helicopters.
The acquisition of Heli-Union is in line with Sabena's strategy - supported by Sagard, Towerbrook and BPI - to strengthen its position as a key player in the military helicopter maintenance sector. Héli-Union will represent approximately a third of Sabena’s consolidated turnover.
The Financière de Courcelles team is delighted to have supported CNN in this sale, thus confirming its strong momentum in the defence sector.
STAKEHOLDER’S LIST :
Sell-side:
- M&A advisor: Financière de Courcelles (Emmanuel Antmann, Noël Forgeard, Marine Ravier)
- Legal advisor: Eversheds Sutherland (Jean-Robert Bousquet, Geffroy Loncle de Forville, Victor Grillo)
Buy-side:
- Legal advisor: Mayer Brown (Olivier Aubouin, Marine Ollive)
- Due diligence: PWC (Nicolas Veillepeau, Julien Sauvard, Arnaud Valla)
Howden accelerates their French expansion by acquiring Théorème
Paris (France), September 28th, 2022,
FDC has advised Howden Group to acquire Théorème, a family-owned corporate insurance broker headquartered in Paris. This operation represents the second acquisition in France for Howden Group after CRF Conseils in July 2022.
Founded in 1994, Howden Group is a leading international insurance distribution group with core activities of retail, specialty and reinsurance broking. With more than 12,000 employees, the company is headquartered in the United Kingdom and operates in 90 countries and 45 companies held in Europe, Asia, Africa, Latin America, Pacific and Middle East.
Howden Group established in France in February 2022 following the appointment of Nicolas Aubert, ex-director of AIG France and ex-director of Willis Tower Watson UK, as CEO of Howden France. The group aims to become one of the leaders of the French brokerage market and a European alternative to the large North American companies on all the B2B insurance products.
Founded in 1991 and led by Xavier de Font-Réaulx, the business has grown to become a significant broker in France, with a market-leading Motor Fleet platform and specialisms within Property & Casualty and Employee Benefits.
Théorème is uniquely placed in the market to service large, medium and small corporate clients across the full insurance value chain, with a multi-specialist approach and deep specialism and expertise. The firm has grown significantly in recent years and currently serves 1,500 clients across its offices in Paris, Annecy and Nantes.
This acquisition follows Howden’s recent agreement to acquire C.R.F. Conseils and underlines Howden’s continued investment in expertise for the benefit of its French clients.
Nicolas Aubert, CEO, Howden France commented: “Théorème offers knowledge and technical skills that will allow us to both expand and enhance our client proposition in France. The firm’s multi-specialist positioning is highly complementary to Howden’s capabilities and Théorème’s Motor Fleet platform is unmatched. Building on our acquisition of CRF Conseils, our purchase of Théorème reasserts our ambition to build a platform based on advanced experience and expertise, which will welcome the best talent in the French insurance market.”
Xavier de Font-Réaulx, President, Théorème said: “We are proud of the entrepreneurial and autonomous culture that we have developed and nurtured at Théorème over the past 30 years. When it came to thinking about the future of our family business, after many steps, we enthusiastically chose to join Howden. Joining the Howden “family” is ideal for us. We have common principles centred on expertise, collective culture, a vision for employees and a customer-centric approach.”
Etienne de Font-Réaulx, Motor Fleet Director, Théorème said: “By choosing Howden, our ambition is to continue as a leader in the Motor Fleet insurance market with new digital tools and a dedicated and highly specialised team that will provide our customers with a service that adds high value every day.”
Martin de Font-Réaulx, P&C Director, Théorème added: “Howden will strengthen our existing specialities and allow us to open up new ones by bringing in new technical skills. This is great news for our customers and also for our teams who will have opportunities in this growing market.”
Luigi Sturani, CEO, Howden Europe said: “Our ambition to position ourselves as one of the leading brokers in Europe is no secret. Partnering with strong strategic and culturally aligned businesses, attracting the industry’s top talent - Théorème’s Xavier de Font-Réaulx and his team and unlocking organic growth is enabling Howden to rapidly grow across the Continent and establish itself as the European-focused alternative in the broking market. The acquisition of Théorème brings us a step closer in fulfilling our ambition to position ourselves among the leading brokers in France and we’re looking forward to welcoming Théorème’s employees and clients to Howden.”
The FDC team is delighted to have supported Howden Group in this operation, an important milestone in the conquest of the French market.
STAKEHOLDERS IN THE OPERATION
Howden Group side:
- Company: Howden Group (Nicolas Aubert, Adrien Laplane) ; Howden Group Corporate Finance and Legal (Dimitri de Lamazière, William O’Grady, Chris Keville)
- Financial advisor: Financière de Courcelles (Bertrand de Saint Remy, Michael Petit, Charles Delbarre, Hamza Lahna)
- Legal advisor: Gide Loyrette Nouel (Hugues Scalbert, Pierre-Guillaume Sagnol)
- Financial due diligence: PwC (Hervé Demoy, François Bourrelier)
- Tax due diligence: PwC (François-Marc Venier, Lidija Volpe)
- IT due diligence: PwC (Philippe Weber)
Théorème side:
- Company: Théorème (Xavier de Font-Réaulx, Etienne de Font-Réaulx, Martin de Font-Réaulx)
- Financial advisor: Cambon Partners (Guillaume Eymar, Vincent Ruffat, Thomas de Villeplée)
- Legal advisor: VOLT Associés (Lucas d'Orgeval)
- Financial due diligence: Deloitte (Vincent Rapiau)
- Legal and tax due diligence: KPMG (Franck Bernauer, Vincent Berger)
Acquisition of CRF Conseils marks start of French expansion for Howden
Paris (France), September 28, 2022,
FDC has advised Howden Group to acquire CRF Conseils, an independent broker specialised in Financial Lines. This operation represents the first acquisition in France for Howden Group.
Founded in 1994, Howden Group is a leading international insurance distribution group with core activities of retail, specialty and reinsurance broking. With more than 12,000 employees, the company is headquartered in the United Kingdom and operates in 90 countries and 45 companies held in Europe, Asia, Africa, Latin America, Pacific and Middle East.
Howden Group established in France in February 2022 following the appointment of Nicolas Aubert, ex-director of AIG France and ex-director of Willis Tower Watson UK, as CEO of Howden France. The group aims to become one of the leaders of the French brokerage market and a European alternative to the large North American companies on all the B2B insurance products.
Held by Didier Arminjon and Didier Seigneur since 2016, CRF Conseils is an independent broker specialised in Financial Lines since 1999. The company mainly works for financial institutions, start-ups and mid-sized companies by providing them targeted insurance solutions (liability of executives and corporate officers, key person insurance, fraud, liability guarantee, IPO, legal protection, etc.).
Howden Group is also renowned for its financial lines expertise abroad and this operation will offer the group a chance to reinforce its expertise in France.
Nicolas Aubert, CEO, Howden France commented: “This acquisition is the best way to launch ourselves in France as a credible and differentiating alternative. The CRF team have best-in-class backgrounds and reputations in the market and their decision to join Howden is a signal to the market of our commitment to build a new broker in France, which is founded on expertise and quality of talent and that brings value to all of our stakeholders, including entrepreneurial talent, clients and insurance partners.”
Didier Arminjon, CEO, CRF said: “We have been approached several times to sell our business, which we have always declined. Why? Our autonomy and the entrepreneurial side of our business are essential. We strongly believed that we would only join a group that shares our DNA and having had the opportunity to meet the leaders of Howden on various occasions, and to listen to them talk about their culture, their values, their priorities, their vision, we knew that Howden could be the ideal partner for us.”
Didier Seigneur, Deputy CEO, CRF added: “We are certain that by joining Howden, we will be stronger and better able to support our clients by delivering ever more sophisticated solutions, with the same listening and attention, the same professionalism that we have always had, but leveraging Howden’s international presence and expertise. Finally, we will be in a better position to recruit the future talent that our customers need. The opportunities in the market are significant; we will have the means to seize them to strengthen our growth.”
The FDC team is delighted to have supported Howden Group in this operation, an important milestone in the conquest of the French market.
Howden Group side:
- Company: Howden Group (Nicolas Aubert, Adrien Laplane) ; Howden Group Corporate Finance and Legal (Dimitri de Lamazière, William O’Grady, Chris Keville)
- Financial advisor: Financière de Courcelles (Bertrand de Saint Remy, Michael Petit, Dominique Guérit, Charles Delbarre, Hamza Lahna)
- Legal advisor: CMS Francis Lefebvre Avocats (Benoît Gomel, Chloé Delion)
- Financial due diligence: Mazars (Zied Loukil)
- Tax due diligence: Mazars (David Chrétien)
CRF Conseils side:
- Company : CRF Conseils (Didier Arminjon, Didier Seigneur)
- Financial advisor: WH Conseils (François-Xavier Redier, Emmanuel Drevon, Quitterie Nielly)
- Legal, Tax and Social advisor: Moncey Avocats (Frédéric Pinet)
FDC advises the founder of Primum Non Nocere - a French leader in CSR and environmental health services - on its integration into Grant Thornton
Paris (France), September 15th, 2022 - Grant Thornton integrates Primum Non Nocere, a CSR consulting expert with expertise in the fields of sustainable development, environmental health and health security.
FDC advises the founder of Primum Non Nocere - a French leader in CSR and environmental health services - on its integration into Grant Thornton
Primum Non Nocere offers one-stop-shop services for CSR: audit, technical studies, coaching, consulting and training. In addition, the company has created and developed the “THQSE” (Very High Sanitary, Social and Environmental Quality) label recognized by Responsibility Europe. Primum Non Nocere combines innovation, digitalization and complementary expertise. Primum Non Nocere is the leading CSR player in the very strategic healthcare sector (hospitals, clinics, maternity wards, etc.). For the past two years, Primum Non Nocere has successfully initiated a diversification (financial services, tourism, culture...) which will be consolidated and amplified in the context of the integration into Grant Thornton.
With a staff of about 40 employees with specialized and complementary expertise, Primum Non Nocere is a fast-growing player, driven by the quality of its service offering and by a dynamic market for environmental and health-related issues.
Financière de Courcelles initially supported Olivier Toma, founder of Primum Non Nocere, in his reflexion and structuring of the company to face the major challenges linked to a strong growth. Financière de Courcelles then organized privileged discussions with a number of players in the field of sustainable transformation with the aim of matching the company with the best partner and preserving its strong culture and values.
Olivier Toma - founder and CEO of Primum Non Nocere – will become a Partner of Grant Thornton. Olivier Toma comments: "We have particularly appreciated working with Financière de Courcelles which has always worked closely and in a perfect spirit with us. Financière de Courcelles has greatly contributed to the success of this operation by being a high value-added and trusted advisor for all parties involved in the transaction.”
This integration allows Grant Thornton to strengthen its expertise in CSR and environmental health. Robert Dambo said: "Grant Thornton and Primum Non Nocere are joining forces to accelerate the transformation of companies and organizations in the service of dedicated sustainable growth. Our common expertise allows us to propose more resilient models, reconciling societal and environmental challenges with the overall performance of companies." For Nathalie Magraitte, Partner Grant Thornton, in charge of CSR strategy: "There are many challenges to the transformation of companies. It is urgent to accompany organizations in the transformation of their model. With the integration of Primum Non Nocere, we combine the strategic support of companies and organizations in all sectors with the field expertise of a team of experts, mobile throughout the country.”
Guillaume Piette, Managing Partner at Financière de Courcelles, concludes:
"We are delighted to have accompanied Olivier Toma and his teams in this major step in the history of Primum Non Nocere. This merger reflects Financière de Courcelles' expertise in tailor-made support for founding managers and strengthens our sector expertise in the environmental consulting and impact company sector. Moreover, the long-term support provided to Olivier Toma illustrates the relevance of the Augmented M&A model developed by Financière de Courcelles.”
About Primum Non Nocere (PNN)
Founded in 2009, PNN offers a one-stop-shop of CSR services: auditing, support, labeling (via its own label "THQSE") and training / e-learning. To do this, PNN has developed numerous digital, scalable and automated tools, making it a particularly innovative player. As a French reference in the health sector (hospitals, clinics, maternity wards, etc.), PNN has successfully initiated a diversification movement (financial services, tourism, culture, etc.) in a particularly fast-growing market for these issues.
About Grant Thornton
Grant Thornton is an audit, consulting and financial advisory group. In France, it employs more than 2,000 people, including 126 Partners in 23 offices, and is positioned in 5 business lines: Audit, Consulting, Financial Consulting, Operational Consulting & Outsourcing and Legal & Tax Consulting. The presence of member firms in 130 countries throughout the world enables Grant Thornton to offer a complete and multidisciplinary range of services to executives whose needs require a global approach.