private equity firm
A private equity firm or private equity company (often described as a financial sponsor) is an investment management company that provides financial backing and makes investments in the private equity of a Startup company, startup or of an existin ...
and investment group headquartered in
Paris
Paris () is the Capital city, capital and List of communes in France with over 20,000 inhabitants, largest city of France. With an estimated population of 2,048,472 residents in January 2025 in an area of more than , Paris is the List of ci ...
. It holds a diversified portfolio of €35 billion in
assets under management
In finance, assets under management (AUM), sometimes called fund under management, refers to the total market value of all financial assets that a financial institution—such as a mutual fund, venture capital firm, or depository institutio ...
, including €23 billion from third parties, invested in more than 600 companies.
History
Gaz et Eaux was founded in 1881 and specialized in the distribution of water and gas in western and northern France. Following the nationalization of gas in 1945, it kept its water activity until 1976, when it gradually changed from a portfolio company at the end of the 1970s, to a pure investment company in the 1990s. It was renamed Azeo in 1999.
Eurafrance, was founded as an investment company in 1969. It became a shareholder of Azeo in 1985 and increased its shareholding on a regular basis until a full takeover bid was launched at the end of 2000. In April 2001, Eurafrance and its subsidiary Azeo formally merged to become Eurazeo.
Between 2001 and 2005, Eurazeo launched three successive major merger operations, giving a more defined shape to the newly created group. At the very inception of the Group in 2001, Eurafrance absorbed Azeo, then in 2004, Eurazeo absorbed Rue Impériale. This was quickly followed in 2005, by the addition of the business of Ateliers de Construction du Nord de la France (ANF). In May 2001, Eurazeo disposed of its holdings in Generali and
Mediobanca
Mediobanca S.p.A. is an Italian investment bank founded in 1946 at the initiative of Raffaele Mattioli (at that time CEO of Banca Commerciale Italiana) and Enrico Cuccia to facilitate the post-World War II reconstruction of Italian industry. Cu ...
.
In 2003, Eurazeo acquired Fraikin Group, and in April it acquired 23% of
Eutelsat
Eutelsat S.A. is a French satellite operator. Providing coverage over the entire European continent, the Middle East, Africa, Asia and the Americas, it has been the world's third-largest satellite operator in terms of revenues. Its subsidiary E ...
from France Telecom. The same year, Eurazeo acquired Buffalo Grill at a price of €20 per share. With the
Carlyle Group
The Carlyle Group Inc. is an American multinational company with operations in private equity, alternative asset management and financial services. As of 2023, the company had $426 billion of assets under management.
Carlyle specializes in ...
, it invested in Terreal.
In 2004, Eurazeo merged with Rue Impériale, which it absorbed. Fraikin Group was securitized to repay the debt raised for its purchase.
In 2005, Eurazeo acquired Ateliers de Construction du Nord de la France (ANF). It took full control of
Rexel
Rexel S.A. is a French company specializing in the distribution of electrical, heating, lighting and plumbing equipment, but also in renewable energies and energy efficiency products and services.
The group has 1,950 points of sale in 19 count ...
with mandatory delisting. Eurazeo sold its stake in Lazard. Eurazeo acquired a first tranche of
Accor
Accor S.A. is a French multinational hospitality company that owns, manages and franchises hotels, resorts and vacation properties. It is the largest hospitality company in Europe, and the sixth largest hospitality company worldwide.
Accor ope ...
, then of
B&B Hotels
B&B HOTELS is a French budget hotel chain that was founded in Brest in Brittany in 1990, and has since expanded in 17 European countries.
History
The hotel chain was founded in 1990 by François Branellec of Galaxie SA. The first hotels opened ...
. Later in the year, Eurazeo sold Terreal, followed by IRR (Capital International Real Returns) – an investment company acquired in 1997 – and BBS Capital, acquired in 1998.
At the time, Eurazeo's strategy consisted in selling historical investments (Generali, Mediobanca, Lazard and Terreal), while at the same time investing in a wide range of companies (Rexel, ANF, Eutelsat, Accor and B&B Hotels).
In 2006, Eurazeo stepped up its European expansion through the acquisition of operators present in European markets. That year, it acquired
Europcar
Europcar Mobility Group is a French car rental company founded in 1949 in Paris. The head office of the holding company, Europcar Group S.A., is in the business park of Val Saint-Quentin at Voisins-le-Bretonneux (Saint-Quentin-en-Yvelines), Fr ...
Europe's number one car rental company, 2006; in 2007, it acquired
APCOA Parking
APCOA Parking AG (APCOA) is Europe's longest-established full service parking management company.Banca Leonardo, an Italian bank focused on the Italian private equity market, and created Euraleo, a 50/50 joint-venture. Eurazeo Co-Investment Partners was created and Fraikin Group was sold to
CVC Capital Partners
CVC Capital Partners plc is a Jersey-based private equity and investment advisory firm with approximately €186 billion of assets under management and approximately €157 billion in secured commitments since inception across American, European, ...
.
In 2009, Eurazeo sold its
Danone
Danone S.A. () is a French multinational corporation, multinational food-products corporation based in Paris. It was founded in 1919 in Barcelona, Barcelona, Spain. It is listed on Euronext Paris, where it is a component of the CAC 40 stock mark ...
shares through the issuance of bonds exchangeable for shares.
In 2010, Eurazeo acquired
Fonroche Énergie
Fonroche Énergie is a French company, founded in 2008 by Yann Maus. Its headquarters are in Roquefort, Lot-et-Garonne, in the French department of Lot-et-Garonne. Its core business is renewable and alternative energy.
History
The company wa ...
, and sold B&B Hotels to Carlyle.
Through the acquisition of OFI Private Equity Capital, Eurazeo created the "Eurazeo PME" division which took over the companies initially controlled by OFI Private Equity Capital. Jointly with Bridgepoint, Eurazeo acquired Foncia. Eurazeo sold all its shares in
Ipsos
Ipsos Group S.A. (; derived from the Latin expression, ) is a multinational market research and consulting firm with headquarters in Paris, France. The company was founded in 1975 by Didier Truchot, Chairman of the company, and has been publ ...
(via the holding company LT Participations), then acquired 3S Photonics and Moncler. Between 2012 and 2014, Eurazeo sold Rexel in stages.
In 2013, Eurazeo sold its entire holding in
Edenred
Edenred, formerly known as Accor Services, is an international payment service provider.
History
Foundation and Accor integration (1950s - 2009)
Jacques Borel created a meal voucher in France called Ticket Restaurant in 1962. He was inspir ...
, then acquired IES and Péters Surgical. In 2016, the brands
Carambar
Carambar is a brand of chewy caramel candy from France, owned by Eurazeo.
History
In 1954, Mr. Fauchille, director of the Delespaul-Hazard company, and Mr. Gallois, an employee, had a surplus of Cocoa solids, cocoa and decided to create a new, o ...
,
Terry's
Terry's (formerly Terry's of York) is a British chocolate and confectionery brand. The original company was founded in 1767 in York, England, and was part of the city's famous confectionery triumvirate along with Rowntree's and Cravens. The co ...
,
Kréma
Kréma is a French brand of confectionery, owned by Eurazeo.
History
Kréma was best known in the period from 1950 to 1970, particularly under the Mint'Ho brand of caramel white mints. Alternative Bat'na combines white and brown caramel, while Reg ...
,
La Pie qui Chante
La Pie qui Chante (''English: The Singing Magpie''), is a French brand of confectionery, since 2017 owned by Eurazeo.
History
In 1860, Emile Cornillot started creating handmade confectionery from premises on rue Colbert, Lille, specializing in ...
Vichy Pastilles
Vichy Pastilles (), less often pastilles of Vichy (), are a French confectionery invented in 1825 and produced in the spa town of Vichy in central France. They are recognizable as a white, octagonal type of candy pastille bearing the word "Vichy" ...
,
Suchard
Chocolat Suchard was a chocolate factory founded in Serrières (a neighborhood of Neuchâtel) by Philippe Suchard in 1826. It was one of the oldest chocolate factories in Switzerland.
History
The Suchard chocolate factory took off thanks to ...
chocolates, and Poulain chocolate were acquired by Eurazeo from
Mondelez International
Mondelēz International, Inc. ( ) is an American Multinational corporation, multinational confectionery, food industry, food, Holding company, holding, drink industry, beverage and snack food company based in Chicago. Mondelez has an annual rev ...
with the brands subsequently being grouped under the brand name
Carambar & Co
Carambar & Co, or CPK (''Carambar Poulain Krema''), is a French confectionery company in founded in 2016. It brings together confectionery brands such as Carambar, Terry's, Lutti, Kréma, La Pie qui Chante, Malabar, Vichy Pastilles, Suchard ...
to create a new confectionery group.
On 29 November 2017, Eurazeo invested close to €100 million in
Rhône Group
Rhône Group is a global private equity firm with approximately $11 billion of assets under management, specializing in mergers and acquisitions, leveraged buyouts, recapitalizations, and partnerships with particular focus on European and trans- ...
, a US and UK investment firm, for 30% of the company's capital. One month later, on 29 December 2017, Eurazeo announced the acquisition of a 70% interest in
Idinvest Partners
Idinvest Partners, founded under the name AGF Private Equity, S.A in 1997, is a European private equity and venture capital firm. Operating as part of Allianz until 2010, Idinvest Partners then became independent. Idinvest Partners is based in P ...
, thereby doubling the amount of its assets under management, from €8 billion to €16 billion. These two large-scale acquisitions coincided with Virginie Morgon's full assumption of office at the head of the company on 19 March 2018. Patrick Sayer had led Eurazeo for fifteen years.
In 2017, Eurazeo acquired Dominion Web Solutions, a software provider to commercial and recreational dealers. Eurazeo then acquired IberChem, a Spanish manufacturer of perfumes and fragrances in emerging markets. Following on from this, the acquisition of a majority interest in Nest Fragrances was announced in November 2017. At the same time Eurazeo's subsidiary, Novacap, acquired Chemoxy (United Kingdom) then Produits Chimiques et Auxiliaires de Synthèse (PCAS), two chemical groups. In December 2021 it was announced that Eurazeo had acquired majority ownership and operational control of the consumer goods firm Beekman 1802 of
Schenectady, New York
Schenectady ( ) is a City (New York), city in Schenectady County, New York, United States, of which it is the county seat. As of the United States Census 2020, 2020 census, the city's population of 67,047 made it the state's ninth-most populo ...
. Beekman 1802 was founded by
Josh Kilmer-Purcell
Josh Kilmer-Purcell (born August 28, 1969) is an American writer, businessperson, and television personality. In addition to his ''New York Times'' and National Bestselling memoirs, his life has been documented in the television reality show ''Th ...