Ardian acquires a minority stake in SFAM
7 February 2018, Paris – Ardian, a world-leading private investment house, today announces that it is acquiring a stake in SFAM, the leading European broker of smartphone and multimedia insurance. In addition, ICG, the specialist asset manager, is underwriting a bond issue, while Winch Capital 3, managed by Edmond de Rothschild Investment Partners (EdRIP), a shareholder of SFAM since 2016, is selling a portion of its stake.
Founded in 1999 by Sadri Fegaier, SFAM is a major European player in the distribution of extended warranty products, specialising in particular in the fast-growing portable products market. SFAM designs, sells, and manages a line of premium insurance products for mobile phones and multimedia devices with extended warranties. With 1,300 employees, SFAM expects to achieve €500 million in gross sales in 2018.
SFAM is aiming to continue its rapid growth (+2,500% in five years) and accelerate its entry into international markets. SFAM already has operations in France, Belgium, Spain, and Switzerland and is considering expanding into Portugal, the Netherlands, and Italy. SFAM also intends to continue diversifying its insurance services for portable and multimedia products and its cash-back programmes, and will launch a new online service in 2018, under the brand Hubside.
Sadri Fegaier, Founding Chairman of SFAM, said: ”We are thrilled to welcome Ardian as a shareholder of our company and for them to accompany us as we enter a new phase in our development. Having this high-value partner is important as it provides the company with both financial and human resources so that we can continue our rapid growth. We will continue to focus on maintaining the satisfaction of our distributor partners, insurers and customers, while also looking into opportunities for external growth.”
Yann Bak, Managing Director at Ardian Buyout, added: “SFAM's exponential growth is remarkable and we are looking forward to being able to support the company as it continues along this path. SFAM has a unique position thanks to its great capacity for innovation, its operational excellence, and the quality of its services. We would like to thank Sadri Fegaier and his team for their confidence in Ardian.”
Sylvain Charignon, Partner at EdRIP, added: “Since our investment in January 2016, SFAM has significantly developed its business, combining strong strategic vision and impressive quality of execution. We wanted to thank Sadri Fegaier for this successful pace and to welcome Ardian, which will contribute to the long-term development of the Group.”
SFAM, founded in 1999 and based in Romans-sur-Isère (France), is the European leading broker in smartphone and multimedia insurances. SFAM began its activity by marketing its insurance products from its own sales points. In 2010, SFAM launched its products on the national market and became the first broker to offer an all risk insurance (covering all causes of loss and breakage) combined with a smartphone recycling service. By relying on its motivated and loyal staff, all experts in their own fields, SFAM proved to be a real success with over 4 million customers and 2,500 partners in Europe. Drawing on its extensive experience in insurance distribution, the SFAM Group has expanded its activity in Europe while innovating its insurance products and additional services and the recycling of technical products. SFAM is also present in Belgium, Switzerland and Spain.
Ardian is a world-leading private investment house with assets of US$66bn managed or advised in Europe, North America and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 480 employees working from twelve offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco) and Asia (Beijing, Singapore). It manages funds on behalf of 650 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Follow Ardian on Twitter @Ardian
LIST OF PARTICIPANTS
SFAM (Sadri Fegaier, Antoine Grenier, Adrien d’Alincourt, Camille Marhoffer, Antoine Baldini, Quentin Duprez)
Ardian (Yann Bak, Olivier Personnaz, Edouard Level, Edmond Delamalle)
Edmond de Rothschild Investment Partners (Sylvain Charignon, François-Xavier Mauron)
ICG (Mathieu Vigier, Yann Prevost)
- M&A Advisors: Natixis Partners (Jean-Baptiste Marchand, Valérie Pellereau, Sébastien Caillé, Antoine Poupard, Louise Bernard)
- M&A Lawyers: Nicole Guedj (avocat, ancien ministre et conseiller d’Etat), Akléa (Christophe Cochet, Hortense d’Avout, Yann Rouleux, Bénédicte de Carlan, Sidonie Lacroix-Girard, Maïquel Garcia, Ludovic Baujard, Eve Maubert)
- Finance VDD: Ernst & Young (Cyril de Beco, Paul-Eric Lacourte, Alexandre Gebelin)
- Legal, tax, social VDD: PwC Avocats (Jérôme Cochet, Thomas Auffret, Florent Fassier)
- Strategic VDD: Oliver Wyman (Mohssen Toumi, Tarik Ouahmed, Jean Hermelin)
- Financing lawyers: Villechenon (Tristan Segonds, Gilles Roux, Martin Kyuchukov-Roglev), Ayache Salama (Alain Levy, David Puzenat)
- Financing advisors: Natixis Partners (Philippe Charbonnier, Patrice Raulin)
- Legal advisors: Weil, Gotshal & Manges (David Aknin, Gautier Elies, Cassandre Porgès, Romain Ferla)
- Financial DD: KPMG (Benjamin Tarac, Damien Birbes)
- Legal, tax, social DD: KPMG (Alexandre Gaudin, Emmanuel Delaby, Pierre-Laurent Seguin)
- Market DD: Eleven (Ambroise Huret, Maxime Caro)
- Financing advisors: Ayache Salama (Alain Levy, David Puzenat)
- MARTIN ROBINSON
- Tel: +44 020 3805 4828