Thu 03/11/2021 13:25 PM
The direct lending arm of Goldman Sachs has provided a €300 million unitranche leveraged 6x facility to support Insight Partners minority
acquisition of French classifieds real estate business IAD, sources told Reorg.
Continue reading for our EMEA Middle Market team's update on the acquisition of IAD, and request a trial for access to our analysis and reporting on hundreds of other stressed, distressed and performing credits.
The company’s last-12-months’ EBITDA is estimated at €50 million by the end of June 2021, sources said. The minority acquisition was valued at a multiple of 25x, sources said. Online classifieds Adevinta and comparable transactions showed similar multiples. An analysis of the business when it issued bonds with comparable valuations is available
HERE, specifically in the peer group section.
As
reported, Lazard and JPMorgan ran the sales process.
Founded in 2008, IAD provides real estate agency services and it is based in Lieusaint, France. The company has offices in France, Spain, Portugal and Italy.
Goldman Sachs did not respond to Reorg’s request for comment at the time of the publication.
--Lucia Camblor
This article is an example of the content you may receive if you subscribe to a product of Reorg Research, Inc. or one of its affiliates (collectively, “Reorg”). The information contained herein should not be construed as legal, investment, accounting or other professional services advice on any subject. Reorg, its affiliates, officers, directors, partners and employees expressly disclaim all liability in respect to actions taken or not taken based on any or all the contents of this publication. Copyright © 2024 Reorg Research, Inc. All rights reserved.