Eurazeo buys remaining stake in Idinvest

The deal accelerates an existing agreement to acquire all of Idinvest by 2022.

Eurazeo has reached an agreement to buy the 20 percent of Idinvest that it did not already own.

The acquisiton is part of a deal signed in 2018 that was intended to enable Eurazeo to acquire the whole of Idinvest over several years up to 2022.

Eurazeo said it has agreed to accelerate this process and has acquired the remaining ordinary shares from Christophe Bavière, Benoist Grossmann and their partners.

It said the deal will enable every company in the Eurazeo portfolio to take advantage of the company’s range of financial and human resources, and make use of each team’s strength in investment, fundraising and operational expertise.

The deal is expected to complete by the end of 2020 with payment made primarily in cash.

Virginie Morgon, CEO of Eurazeo, said: “The decision to accelerate the operation confirms the mutual ambition of Idinvest’s partners to fully engage in the Group’s strategic project and become a European leading benchmark for companies at every stage of their development.”

Idinvest was founded in 1997 as AGF Private Equity and is headquartered in Paris. It has invested in private debt since 2010 and has raised €1.2 billion for its more recent vehicle, Idinvest Private Debt V.