M&A Deal Summary

J.C. Flowers Acquires Compagnie Europeenne de Prevoyance SAS

On May 5, 2011, private equity firm J.C. Flowers acquired insurance company Compagnie Europeenne de Prevoyance SAS from PAI Partners for 800M EUR

Acquisition Highlights
  • This is J.C. Flowers’ 2nd transaction in the Insurance sector.
  • This is J.C. Flowers’ largest (disclosed) transaction.
  • This is J.C. Flowers’ 1st transaction in France.
Investment Fate
  • Compagnie Europeenne de Prevoyance SAS was sold to a consortium of financial buyers in 2020.

M&A Deal Summary

Date 2011-05-05
Target Compagnie Europeenne de Prevoyance SAS
Sector Insurance
Buyer(s) J.C. Flowers
Sellers(s) PAI Partners
Deal Type Secondary Buyout
Deal Value 800M EUR

Target

Compagnie Europeenne de Prevoyance SAS

Nantes, France
Compagnie Européenne de Prévoyance ("CEP") is a pioneer in protection insurance brokerage both in France and Europe, and specializes in credit protection. The company has invested significantly over the past years to diversify its distribution channels and develop its digital offering. CEP was formed in 1991 and is based in Nantes, France.

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Buyer(S) 1

Buyer

J.C. Flowers

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
PE ASSETS 5.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

JC Flowers is a specialist private equity firm that targets investments in the financial services sector. JC Flowers looks for distressed opportunities in North America, Western Europe, and Asia. JC Flowers was formed in 1998 and is based in New York City with an additional office in London.


DEAL STATS #
Overall 8 of 28
Sector (Insurance) 2 of 10
Type (Secondary Buyout) 1 of 3
Country (France) 1 of 1
Year (2011) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-07 UKWM

York, United Kingdom

UKWM, formerly Yorkshire Investment Group, is a company with £1.4bn of private client funds under advice in addition to the corporate pension funds on which it advises. It provides specialist investment and tax planning advice to high net worth individuals and employee benefits advice to organizations and trustees. The company is well positioned to capitalise on changes in the IFA market driven by UK demographic trends, pension reforms and regulatory changes. The IFA sector is fragmented and comprises approximately 11,000 independent firms in the UK.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-31 MF Global Holdings

New York, New York, United States

MF Global Holdings Ltd was a commodities brokerage firm.

Sell -

Seller(S) 1

SELLER

PAI Partners

Paris, France

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
PE ASSETS 16.2B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

PAI Partners is a European private equity firm that makes controlling equity investments in buyout transactions valued in excess of €300 million. PAI is particularly interested in 'investing in consolidating sectors and in markets where growth can be sustained through economic and financial market cycles.' Sectors of interest include consumer retail, professional distribution, building materials, infrastructure and utilities, media, IT, communications, food, consumer goods, healthcare, chemicals, automotive, aeronautics, paper & packaging, electrical appliances, and household equipment (heating, air-conditioning, security). The firms invest in the range of €100 - €300 million transaction. PAI was formed in 1998 and is based in Paris with additional offices in Madrid, Milan, Munich, Luxembourg, Copenhagen, and London.


DEAL STATS #
Overall 19 of 48
Sector (Insurance) 1 of 1
Type (Secondary Buyout) 8 of 24
Country (France) 12 of 23
Year (2011) 3 of 6
Size (of disclosed) 16 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-05 Souriau-Sunbank Connection Technologies

Versailles, Pennsylvania, France

Souriau SAS is a provider in connector solutions for industrial, military aeronautics and aerospace applications. The company makes a wide range of interconnection systems for severe environments (high pressure, extreme temperature, marine environments, exposure to electromagnetic or nuclear radiation, etc.)

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-09 Gruppo Coin

Mestre Venezia, Italy

Gruppo Coin is an Italian apparel retailer operating c. 800 stores in Italy and 90 overseas. The company employs 9,500 people. The group operates through two brands: Oviesse "OVS" which offers "value for money" clothing for women, men and children and Coin department stores which target more affluent customers, selling clothing for men, women and children, as well as accessories, underwear, home decoration, perfumes and cosmetics.

Sell €1.7B