Less than three years after its first LBO, CIPRÉS Assurances announced today that Apax Partners, a leading private equity firm in France and Europe, has entered into exclusive negotiations with TA Associates to acquire a stake in the company. Apax Partners will become the new main shareholder of the company.

This transaction will result in the exit of TA Associates, main shareholder since the first LBO at the end of September 2014. As planned, this will allow management to increase its stake in the company’s. Laurent Ouazana, Chairman of the Executive Board, Sylvie Langlois, Managing Director, and their team will therefore continue developing CIPRÉS Assurances with the same objectives.

Supported by a network of more than 4,000 loyal partner brokers, and surrounded by major French insurers with whom the company has built lasting long-term relationships, CIPRÉS Assurances plans to accelerate its growth by capitalising on the excellent relationships that exist between French entrepreneurs and its partner brokers, who are entrepreneurs themselves.

“I am eager to continue our journey with Apax Partners, but also conscious of how far we have come in less than three years. I want to recognize the company’s associates, as well as our broker partners and friends, and lastly the indispensable confidence of our insurer partners. I would like to take this opportunity to sincerely thank TA Associates for their care and professionalism, and for supporting us for these last 33 months,” added the Chairman.

Monique Cohen, Partner at Apax Partners commented, “CIPRÉS Assurances is one of the most important players in the sector. The role of Apax Partners, whose financial services expertise is well known, is to support the growth of outstanding companies like CIPRÉS Assurances. We are looking forward to working with Laurent Ouazana,, Sylvie Langlois and their team. We share their ambition of making the company the leading insurer for French entrepreneurs. We will provide the company with the human and financial resources necessary to pursue the growth objectives.”

Patrick Sader, Director of TA Associates added, “Our partnership with CIPRÉS’ management perfectly illustrates TA Associates’ investment philosophy to support fast-growing companies with recurring revenue business models and strengthen their operations as they grow. We would like to thank Laurent Ouazana, Sylvie Langlois  and their teams for their focus on excellence, quality and innovation, and their exceptional commitment that has made CIPRÉS a leading French wholesale brokerage.”