goetzpartners has advised IK Investment Partners on the acquisition alongside Five Arrows Principal Investments of a controlling interest in I@D, the leading french network of independent real estate agents
Founded in 2008 by Malik Benrejdal, Jade Benrejdal and Jérôme Chabin and based on a disruptive multi-level marketing operating model, I@D is the leading network of independent real estate agents in France.
With the financial support of Naxicap Partners since 2012, the company has deployed its disruptive model in France and Portugal, exhibiting rapid growth, with FY 2016 sales of €80m and a network of c. 3,200 agents.
At the end of a competitive auction, IK Investment Partners (“IK”) entered into an exclusivity agreement with the shareholders of I@D. IK offered a unique ability to accompany the company in its domestic and international development while contributing the most relevant managerial solution.
IK has acquired the majority alongside Five Arrows Principal Investments whilst the founders and Naxicap will reinvest in the transaction.
Rémi Buttiaux, Partner at IK, said: “The goetzpartners’ team was instrumental to help us win this deal. They have a profound understanding of disruptive business models. They were closely involved in the due-diligence and financing process and gave relevant inputs and guidance to our strategic consultants. They also had a solid access to the sell-side team which gave us traction in this acquisition process.”
Guillaume Piette, Managing Director at goetzpartners, said: “We are delighted to have advised IK in the course of the acquisition of one of the most exciting assets in the real estate industry. This transaction highlights our ability to assist and advise pan European funds throughout competitive bids and will expand further goetzpartners’s track-record in Business Services.”
ABOUT IK INVESTMENT PARTNERS
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France and Benelux. Since 1989, IK funds have raised more than €7.5 billion of capital and invested in over 95 European companies. IK funds support businesses with strong underlying potential, partnering with management teams to create robust, international leaders with excellent long-term prospects.
For more information, please visit www.ikinvest.com.
Founded in 2008, I@D offers a full range of services to consultants wishing to adopt an alternative model of real estate intermediation. I@D today supports the first network of independent real estate consultants in France, with c. 3,200 agents. Based in Lieusaint (France), I@D employs 64 people and generated revenues of €80 million over the last twelve months. For more information, please visit www.iadfrance.fr