Eurazeo, through its subsidiary Eurazeo PME, has signed an exclusivity agreement as per which it will invest, as a majority shareholder, in Groupe Premium.
Eurazeo will invest alongside Groupe Premium’s present shareholders – Montefiore Investment, Groupe Premium’s management including Olivier Farouz, Laurent and Didier Zerbib, Benoît Jauvert and other important executives, along with independent agent partners.
The deal would take the value of Groupe Premium to €290m.
Eurazeo PME’s investment in Groupe Premium would be around €100m, based on the level of reinvestment by present shareholders.
Set up in 2000, Groupe Premium is an independent broker for life insurance and retirement savings solutions in France.
Groupe Premium, through its Predictis and Capfinances brands, serves as an independent distributor for insurers such as Swiss Life, Aviva and Groupama Gan Vie, with regard to quality inflows collection.
It also has an asset management company, called Flornoy.
Flornoy manages several SRI accredited thematic funds.
Groupe Premium depends on commercial network comprising over 600 independent agent partners, who offer clients a wide approach to wealth management.
The group reported a revenue of €66.7m in 2020, up 28.5% compared with 2019, despite the Covid-19 pandemic.
Eurazeo PME, Montefiore Investment and the management team intend to accelerate the group’s growth by expanding its network and geographical coverage, through an active buy-and-build strategy, and focus on development in key areas such as digitalisation, product offering diversification and CSR.
Eurazeo PME executive board members Pierre Meignen and Benjamin Hara said: “We would be delighted to support Groupe Premium in this new chapter of its development and to contribute to its success. Our ambition will be to help Olivier Farouz’s team execute their accelerated growth strategy, which aims to build an industry leader in the transformation of the life insurance and retirement savings market.”
Groupe Premium chairman and founder Olivier Farouz said: “I would be very happy to welcome Eurazeo as an investor in Groupe Premium. Eurazeo’s teams have shown great professionalism and proposed a very exciting new challenge, but most importantly they have understood the DNA of Groupe Premium, which is above all a disruptive, people-driven business. Groupe Premium’s fundamental values are support, social mobility and meritocracy. This approach will be a major advantage in helping us realize our ambitious project, particularly in terms of acquisitions.”