Insurance broker April is preparing to switch to the American flag. The KKR investment fund has entered into exclusive negotiations to buy the Lyon group from the CVC Capital Partners fund. The amount of the transaction was not disclosed, but it will amount to 2.3 billion euros, according to The insurance argument. The price is 2.5 times higher than what CVC paid just three years ago (€900m). This is the biggest deal of the year in the French private equity sector, where financing is very difficult to find.
- Prime Macron 2022: terms, amount, payment date… how it works?
For KKR, which competed with PAI and Cinven funds, this is a form of revenge. the US investment firm was already in the finals with CVC in late 2018 to take over in April.
Refocused
His arrival as a “long-term” majority shareholder should support a transformation in recent years to April, which has a network of 15,000 partner brokers. Under the leadership of Éric Maumy, the brokerage has refocused on its core business (healthcare, insurance, borrower insurance and the VSE-SME sector). In 2021, it achieved turnover and claims of around 544 million euros “double-digit growth momentum” in 2022.
The tricolor company, which operates in seventeen countries, including Germany, where it opened a branch in mid-November, believes that by changing shareholders. “Gives himself the tools to become a global player” and hello “Great partnership with CVC Capital Partners.”
Source: Le Figaro
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.