M&A Deal Summary

Astorg Partners and Ardian Acquire IQ-EQ

On September 10, 2015, private equity firms Astorg Partners and Ardian acquired financial services company IQ-EQ from Cobepa SA

Acquisition Highlights
  • This is Astorg Partners’ 1st and Ardian’s 4th transaction in the Financial Services sector.
  • This is Astorg Partners’ 1st and Ardian’s 2nd transaction in Luxembourg.

M&A Deal Summary
Date 2015-09-10
Target IQ-EQ
Sector Financial Services
Buyer(s) Astorg Partners
Ardian
Sellers(s) Cobepa SA
Deal Type Secondary Buyout

Target

IQ-EQ

Luxembourg, Luxembourg
IQ-EQ is an investor services group providing a comprehensive range of compliance, administration, asset, and advisory services to investment funds, global companies, family offices, and private clients globally. IQ-EQ was formed in 1896 and is based in Luxembourg.

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Buyer(S) 2

Buyer

Astorg Partners

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 22.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Astorg Partners is a private equity firm that targets small to midcap company investments primarily in France and to a limited extent, Western Europe. Astorg Partners looks for companies valued between €400 million and €2 billion, requiring at least €15 million in equity. Areas of interest include healthcare, retail, distribution, hospitality, and professional services. Prospective transaction situations include leverage build-ups, divestitures, family transitions, and secondary buyouts. Astorg Partners was formed in 1998 and is based in Paris and has additional offices in London and Luxembourg.

DEAL STATS #
Overall 31 of 67
Sector (Financial Services) 1 of 1
Type (Secondary Buyout) 9 of 37
Country (Luxembourg) 1 of 1
Year (2015) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-01 Linxens SA

Guyancourt, France

Linxens SA is a manufacturer of connectors for smart cards. Linxens was founded in 1986 and is based in Guyancourt, France.

Sell $1.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-30 Gras Savoye SA

Neuilly-sur-Seine, France

Gras Savoye SA is an insurance broker company offers a wide range of insurance products (basic non-life insurance, life insurance, specialized insurance) to a diversified client base (large companies, SMEs, local authorities and private individuals) present in a wide range of industries.

Sell -
Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €150 million per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.

DEAL STATS #
Overall 248 of 418
Sector (Financial Services) 4 of 4
Type (Secondary Buyout) 75 of 137
Country (Luxembourg) 2 of 2
Year (2015) 22 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-18 Evolve IP

King of Prussia, Pennsylvania, United States

Evolve IP provides organizations with a unified option for cloud services, including unified communications, contact center, managed network, and cloud computing technologies. Evolve IP was founded in 2007 and is based in King of Prussia, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-15 First Data

Atlanta, Georgia, United States

First Data is a provider of electronic commerce and payment solutions for merchants, financial institutions and card issuers. First Data was formed in 1989 and is based in Atlanta, Georgia.

Sell -

Seller(S) 1

SELLER

Cobepa SA

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1957
PE ASSETS 2.5B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Cobepa S.A. is a global investment group focused on growth capital investments (acquiring significant minority stakes) and leveraged buyout transactions. Cobepa invests in established companies with business models, sustainable market positions, and strong management teams. Sectors of interest include transportation, industrial, retail, financial services, and business services. The Firm generally pursues opportunities throughout Europe and North America, however Cobepa also targets opportunities in Asia and South America. Cobepa was originally established in 1957 and is headquartered in Brussels, Belgium

DEAL STATS #
Overall 7 of 19
Sector (Financial Services) 1 of 1
Type (Secondary Buyout) 2 of 9
Country (Luxembourg) 1 of 1
Year (2015) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-01 Exclusive Networks

Boulogne-Billancourt, France

Exclusive Networks is an independent value-added distributor (VAD) for the EMEA region, specialising in the marketing of solutions for businesses in the areas of cybersecurity, data centres and associated value-added services. Exclusive Networks was founded in 1995 and is headquartered in Boulogne-Billancourt, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-16 Optelec BV

Barendrecht, Netherlands

Optelec BV is a developer and producer of optical and electronic tools for the visually impaired. The company enables people with visual impairments to function as independently as possible in educational, professional and home environments.

Sell -
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