Silver Lake is about to strike its second deal in France this month. The agency has entered into unique negotiations to accumulate a majority stake in monetary brokerage Groupe Meilleurtaux from Goldman Sachs.
The transaction, which is anticipated to shut within the fourth quarter, is valued at round €700m, an individual conversant in the matter informed Non-public Fairness Information.
Based in 1999 and headquartered in Paris, Meilleurtaux gives a variety of economic companies and merchandise, together with a mortgage loan comparability software, debt consolidation options, and different monetary simulators. The corporate’s shoppers can entry its merchandise through a community of 340 brokerage branches or by its web sites, which have 90 million visits per yr, Silver Lake mentioned.
“We are extremely proud of what Meilleurtaux has achieved over the past three years, with the group’s revenue doubling between 2017 and 2019,” Hervé Hatt and Guillaume Autier, chairman and CEO of Groupe Meilleurtaux, mentioned in a joint assertion. Particulars on the corporate’s income weren’t disclosed.
The deal follows Silver Lake’s acquisition of French human sources software program supplier Silae, reportedly worth greater than €500m.
General, the US non-public fairness group has been energetic globally throughout the coronavirus disaster. In May, it agreed to make investments $750m in fast-growing Indian telecom and tech big Jio Platforms. In March, the agency led a $2.25bn funding spherical for Alphabet’s Waymo, making it one of many first outdoors traders within the self-driving-car unit.
Silver Lake, which manages round $40bn in belongings, has a workforce of roughly 100 funding and working professionals positioned in its places of work in Silicon Valley, New York, London, and Hong Kong.
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