Thu 11/12/2020 08:24 AM
Crédit Industriel et Commercial, or CIC, and Crédit Agricole have provided a term loan amounting to nearly €50 million to support Ardian’s acquisition of French B2B and B2C insurance broker Finaxy, sources told Reorg. Leverage level was 4.5x, the sources added. Continue reading for the EMEA Middle Market team's coverage of Finaxy, and request a trial to access reporting and analysis on hundreds of other credits.
Ardian declined to comment. CIC and CA did not respond to Reorg’s request to comment.
Ardian bought Finaxy from Equistone Partners in July, as reported
. The secondary buyout is valued at about €160 million, or 15x EBITDA, according to French media.
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