M&A Deal Summary

AXA Acquires AXA Mansard

On December 8, 2014, AXA acquired insurance company AXA Mansard from Africinvest

Acquisition Highlights
  • This is AXA’s 4th transaction in the Insurance sector.
  • This is AXA’s 1st transaction in Nigeria.

M&A Deal Summary
Date 2014-12-08
Target AXA Mansard
Sector Insurance
Buyer(s) AXA
Sellers(s) Africinvest
Deal Type Add-on Acquisition

Target

AXA Mansard

Lagos, Nigeria
AXA Mansard is a private limited liability company and is registered as a composite company with the National Insurance Commission of Nigeria (NAICOM). AXA Mansard products range from Life to Property and Casualty for individuals, commercial solutions for SMEs and corporate organizations. AXA Mansard was founded in 1989 and is based in Lagos, Nigeria.

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Buyer(S) 1

Buyer

AXA

Paris, France
Category Company
Founded 1852
Sector Insurance
Employees94,705
Revenue 93.1B EUR (2022)
DESCRIPTION

AXA is a provider of financial protection and asset management services primarily in western Europe, North America, the Asia Pacific region, the Middle East, and Africa. The Company offers a range of life and savings products, including individual and group savings retirement products, life and health products. Property & Casualty segment includes a range of products, including motor, property and general liability insurance for both personal and commercial customers. AXA was founded in 1852 and is based in Paris, France.

DEAL STATS #
Overall 4 of 15
Sector (Insurance) 4 of 12
Type (Add-on Acquisition) 3 of 7
Country (Nigeria) 1 of 2
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-24 Tianping Auto Insurance

Shanghai, China

Tianping Auto Insurance Co., Ltd. is a Chinese P&C insurer with strong direct distribution capabilities.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-20 African Reinsurance

Lagos, Nigeria

African Reinsurance Corp. is a reinsurance company.

Buy €53M

Seller(S) 1

SELLER

Africinvest

Tunis, Tunisia

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1994
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Africinvest is a private equity firm focused on growth investments in African companies. The Firm generally targets minority investments in small to medium-sized companies, but Africinvest will consider select majority situations. Africinvest does not have any sector preferences and looks to hold for 4 to 6 years. Africinvest was formed in 1994 and is headquartered in Tunis, Tunisia.

DEAL STATS #
Overall 4 of 12
Sector (Insurance) 1 of 1
Type (Add-on Acquisition) 2 of 5
Country (Nigeria) 1 of 1
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-09 Broron Oil & Gas

Lagos, Nigeria

Broron Oil & Gas is an indigenous oil and gas offshore services company which provides offshore support services to International Oil Companies (IOCs), independent and indigenous upstream companies in Nigeria and the Gulf of Guinea. Services provided by the Company include subsea engineering services, diving services, project management, logistics and procurement support services. Broron Oil & Gas was founded in 2002 and is based in Lagos, Nigeria.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-19 Elephant Group

Lagos, Nigeria

Elephant Group is an importer of agro-commodities in Nigeria. It currently imports, markets and distributes rice and fertilizer in the country. Elephant Group is based in Lagos, Nigeria.

Buy -
Mergr

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