Private equity firm Ardian said that through its affiliate Ardian Expansion has acquired a majority stake in Finaxy, a French insurance broker, from Equistone Partners Europe, for an undisclosed price.

Established in 2009 by Erick Berville, Finaxy is claimed to have become one of the top 10 insurance brokers in France after Equistone’s acquisition of a majority stake in the company in 2014. Since its founding, the company has made 27 acquisitions in France, a couple of which – that of AGEF Courtage and JL Assurances were executed this year.

Guillaume Jacqueau – Managing Partner at Equistone said: “We are proud to have worked with Finaxy for more than six years and to have played our role as a strategic partner. Finaxy’s management has done a remarkable job in expanding the product offering and developing new niche markets through organic and external growth.

“The Group has become one of France’s leading independent brokers and we are convinced that Finaxy is well positioned to continue consolidating its leading position in the future.”

Finaxy with the support of Ardian intends to fast track its buy-and-build strategy and bolster its multi-specialist positioning. The French insurance broker has a workforce of around 170 and

Alexis Lavaillote – Managing Director in the Ardian Expansion team said: “Knowing this sector quite well, we were convinced by Finaxy’s multi-specialist positioning and its potential for organic growth across its three businesses. Under the leadership of Erick Berville, Finaxy has also been a key player in the consolidation of a still fragmented market and we will continue to support and accelerate this external growth policy.

“We are delighted to support Erick and his teams who, beyond their performance, have demonstrated agility and a strong entrepreneurial culture.”

  Alexis Lavaillote, Ardian, Ardian Expansion, Erick Berville, Finaxy, France, Insurance acquisition news, Insurance industry news