Groupe Premium lbo with Blackstone, Eurazeo & Montefiore

France's leading wealth management firm welcomes Blackstone

Blackstone has signed an equity and quasi-equity financing agreement to support Groupe Premium's strong growth.

Eurazeo - the management team led by Olivier Farouz - and Montefiore Investment have announced that they have reached an agreement in which funds managed by Blackstone will provide Groupe Premium with €400m in equity and quasi-equity financing. As part of the transaction, Blackstone will also acquire a limited minority stake in the business. Blackstone’s investment will provide Groupe Premium with further flexibility and additional resources to support its future growth. Barings has also renewed its support for the Group with a new financing package of €300 million. The transaction would value the company at €1.15 billion. Eurazeo and its affiliates would realize a 3.3 cash-on-cash multiple at the completion date, including about €185 million of cash proceeds (of which about €65 million for the Eurazeo balance sheet), the €135 million remainder being reinvested in the operation. The operation is subject to approval by the Group’s supervisory authorities. Eurazeo would retain control of the company, reaffirming its trust in Groupe Premium for years to come.

Founded in 2000, Groupe Premium is a leading player in wealth management in France, with three activities: life insurance and retirement savings brokerage through the Predictis and Cap Finances networks, asset management through its subsidiary Flornoy-Ferri, and wealth management consulting. The Group manages €8.5 billion in assets and achieved a revenue of €188 million in 2022, an 80% growth compared to 2021. It aims to reach €263 million in 2023.

In 2018, Montefiore invested in Groupe Premium to support the Group’s first phase of acceleration, before handing over control to Eurazeo in July 2021. Since its entry into the capital, Eurazeo has supported the Group by providing the human and financial resources necessary to its structuring and development, in particular the geographical expansion of its network of independent agents throughout France - which now counts 1,100 partners. It has also helped establish the Group’s wealth management consulting division, which currently represents €3 billion in assets under management and is the result of eight acquisitions made in the past two years.

Over the last five years, the Group's revenue has multiplied by ten. Driven by renewed confidence from its historical shareholders, the Group intends to continue its strong organic growth by further strengthening its product range and digitalization, while accelerating its active external growth policy, both in France and internationally.