Eurazeo PME, Eurazeo’s subsidiary specializing in medium-sized companies, has announced the signing of an agreement to invest in AssurCopro, which specializes in joint ownership insurance brokerage, alongside its founders and management. The deal is scheduled for completion in September 2016.

AssurCopro, which dates back to 1927, is the leading French insurance broker for joint ownership. AssurCopro has thus forged strong historical relations with insurance companies and more than 1,600 joint ownership and property management associations in France. The company has expanded thanks to the experience and expertise of its founders, Vincent Mancel and Olivier Scemama, who will retain their new interest alongside Eurazeo PME and the AssurCopro management team. The company of 54 employees delivers renowned service quality due to its client proximity, hyperspecialization and quick responsiveness. AssurCopro is targeting a business volume of €95 million in 2016, up by more than 10%.

Eurazeo PME will assist the company alongside the managers Henri Combremont, Virginie Lorrain, Christophe Chombard and Muriel Marchesini in order to consolidate its leading market position. AssurCopro’s ambitious growth plan will involve extending its geographical coverage, particularly through acquisitions, and offering innovative products such as AssurTréso, launched at the end of 2015. Eurazeo PME will provide its business network and its organization (digital technology, CSR, HR, etc.) to serve the company’s operational excellence strategy.

Pierre Meignen, Associate Director of Eurazeo PME, declared: “We are delighted to accompany AssurCopro in stepping up its growth and furthering its market consolidation. Alongside its management team, our aim is to double the group’s size within the next 5 years.”