Private investment firm Ardian has acquired a majority stake in French multi-specialist B2B and B2C insurance broker Finaxy from Equistone Partners Europe.

Founded in 2009, Finaxy established its presence as an insurance broker in France following Equistone’s acquisition of a majority stake in the firm in 2014.

Finaxy intends to ramp up its ‘buy-and-build strategy’ and bolster its multi-specialist positioning following its association with Ardian. Till date, the firm has made 27 acquisitions in France, including two this year.

Ardian Expansion team managing director Alexis Lavaillote 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.”

Finaxy founder and CEO Erick Berville said: “The Group Management and I would like to thank Equistone for the past six years. This close teamwork has enabled us to achieve common goals while respecting Finaxy’s human and entrepreneurial values, and to smartly position the group for strong and ambitious development.

“We have chosen to continue this journey with Ardian and we are delighted to welcome them. We share this DNA and it will enable us to pursue and accelerate our organic and external growth momentum.”