Eurazeo and Bridgepoint, Foncia group shareholders since 2011 through a common subsidiary, have announced that they have entered into exclusive discussions with Partners Group with a view to selling the group in its entirety.
The European leader in residential real estate and property management services and the French number one in joint-property management, lease management and renting, Foncia also has offices in Switzerland, Germany and Belgium.
Since July 2011, under the impetus of Eurazeo and Bridgepoint and its new management team, the group has radically transformed itself, focusing on service quality and innovation and completing more than 60 acquisitions, thus enabling Foncia to post revenue of €696 million in 2015.
This transaction is subject to consultation with Foncia’s group employee representative bodies.
About Eurazeo
With a diversified portfolio of 5 billion euros in assets, Eurazeo is one of the leading listed investment companies in Europe. Its purpose and mission is to identify, accelerate and enhance the transformation potential of the companies in which it invests. The Company covers most private equity segments through its four business divisions – Eurazeo Capital, Eurazeo Croissance, Eurazeo PME and Eurazeo Patrimoine. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term. Eurazeo is notably either a majority or key shareholder in AccorHotels, ANF Immobilier, Asmodee, Desigual, Elis, Europcar, Fintrax, Foncia, InVivo NSA, Les Petits Chaperons Rouges, Moncler, and smaller companies, including the investments of Eurazeo PME and Eurazeo Croissance.
Eurazeo is listed on Euronext Paris.
About Bridgepoint
Bridgepoint is a European private equity firm. With over €20 billion of capital raised to date, it typically focuses on acquiring well managed companies in attractive sectors with the potential to grow organically or through acquisition. In 2015 Bridgepoint returned over €1.8 billion to investors. Realisations include the sale of Ponant, the specialist luxury cruise operator and market leader in specialist polar cruises, to Artemis, and Infront Sports & Media AG, which was sold to Dalian Wanda Group, one of the leading Chinese conglomerates and China’s largest investor in cultural and entertainment sector, for €1.05 billion (USD 1.2 billion). In December 2015 it sold LGC, the international life sciences company creating measurement and testing solutions for companies across the world, to KKR for an undisclosed sum.
Bridgepoint currently comprises two businesses: 1. Bridgepoint Europe which concentrates on middle market companies across Europe typically valued between €200 million and €1 billion. It has offices throughout Europe in Frankfurt, Istanbul, London, Luxembourg, Madrid, Paris, Stockholm and a portfolio development office in Shanghai, and 2. Bridgepoint Development Capital, a separate ‘lower mid-cap’ or smaller buyout and growth capital business which focuses on the acquisition of companies in the UK, France and the Nordic region, typically valued between €50 million and €150 million.
About Partners Group
Partners Group is a global private markets investment management firm with over EUR 46 billion (USD 50 billion) in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug,Switzerland, and has offices in San Francisco, Denver, Houston, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Milan, Munich, Dubai, Mumbai, Singapore, Shanghai, Seoul, Tokyo and Sydney. The firm employs over 800 people and is listed on the SIX Swiss Exchange (symbol: PGHN) with a major ownership by its partners and employees.
(Source: Eurazeo)