Deal overview

Date: August 2021
Sector: Financial services
Type of transaction: M&A - Sell side advice
Deal Team: Stéphane Benouaich / Paul Krotoff

Background

  • Established in 2009, Artémis Courtage is a French leading mortgage loan broker with 90 agencies (strong presence in Paris region, North and Atlantic coast) and more than 400 employees. In 2020, Artémis Courtage negotiated €3.5bn of loans for 15,000 customers. Artemis Courtage is backed by Raise Investissement, an investment firm established in 2013 by Gonzague de Blignères and Clara Gaymard.
  • Odealim (Formerly Assurcopro) is a tier 1 insurance broker with a strong focus on real estate professionals. In 2020, Odealim acquired a stake in Digital Insure, a Fintech specialised in both credit and insurance. Odealim is backed by TA Associates, a leading global growth private equity firm.

Process

  • Though outside of a formal disposal process, Mirabaud Advisors managed to trigger direct discussions on a synergistic industrial project between Odealim and Artémis Courtage with the aim of building the leading French diversified broker (both in credit and insurance) dedicated to the real estate industry.
  • Mirabaud Advisors was mandated by Raise Investissement and Artémis founders as sell-side advisor to lead the negotiations with Odealim and TA Associates, and maximise the valuation and the reinvestment terms.

Outcome

  • The newly formed Odealim group is targeting €140m sales for 2021, comprising€90m insurance and €50m credit. Strong synergies are expected following the merger. Both Raise Investment and the management team reinvested in the newly formed Group.
  • This transaction illustrates the ability of Mirabaud Advisors to handle major strategic sale transactions to PE-backed players.
  • The deal also strengthens the reputation of Mirabaud as trusted advisor to entrepreneur-led companies for their strategic sale.

Testimonials

Stéphane Benouaich, CEO & Head of M&A of Mirabaud Advisors Paris, commented, “Once we were mandated with this transaction, we immediately recognised the potential synergies and possibilities between Artémis Courtage and Odealim. The two companies did not know each other, being focused on different market segments. We are very proud to have been able to introduce Artemis to Odealim (and its shareholder TA Associates) and deliver the merger, creating the French leading player in insurance and mortgage loan brokerage.”

France

Stéphane Benouaich

Head of Mirabaud Advisors, France


MIRABAUD ADVISORS FRANCE SAS
13, avenue Hoche
75008 Paris
T +33 1 44 21 61 00

Send a message

Artémis Courtage official website

Visit website

Odealim official website

Visit website

“We would like to thank Stephane and his team for their high value-added role on this transaction which would not have happened without their involvement. Stéphane and his team are excellent professionals that I highly recommend to any entrepreneur considering an M&A deal or willing to explore strategic options.”

Ludovic Huzieux
CEO & Co-Founder of Artémis Courtage