Apax Partners acquires a minority stake in Pandat Finance, the French leader in treasury investment brokerage

Created in 2009, Pandat Finance is the French pioneer and leader in cash investment brokerage. Pandat Finance allows companies, associations and institutional investors to have access to the best remuneration on short, medium and long term cash investment products.

With a turnover forecast in 2022 of almost 15 million euros and bringing together 40 employees spread over 3 agencies (Paris, Lyon and Bordeaux), the company has forged relationships of trust with more than 1,000 clients, including several groups of SBF 120, ETI. but also many institutions.

The breadth of its product offering, its deep knowledge of the ecosystem of financial partners, the expertise of its teams and its advisory quality make Pandat Finance a reference partner for its clients. This unique positioning allows it to experience strong annual growth – on average 35% since 2019 – and to respond effectively to all the cash investment challenges of its clients.

The entry into the capital of Apax Partners and Bpifrance, alongside the founders David Guyot and Thomas Forest, who maintain control of the company, will allow Pandat Finance to accelerate its growth, recruiting a large number of new advisors, diversifying its know-how products and expansion. its geographical presence, organically or through targeted acquisitions. Pandat Finance anticipates more than 60 hires over the next 4 years, including around 30 advisors, and plans to open 5 offices in France and its neighboring countries by 2026.

Pandat Finance is the 9th investment for the Apax Development fund. With this new operation, Apax strengthens its expertise in the field of financial services and cash management, following its investments in the Crystal group – leader in the wealth management market -, and Diapason – software publisher of treasury, payments and risk.

The operation allows the exit of ISAI, minority shareholder of the group since 2019.

David Guyot and Thomas Forest, the founding directors of Pandat Finance state: “We are proud and happy to welcome to our capital Apax Partners, a leading private equity firm with long experience in the financial services sector and more broadly from the support of companies in hypergrowth. The recognized technical competence of Apax Partners, with the support of Bpifrance that will help us accelerate our development in the territories, will allow our group to pursue its ambitions and reach its next stage of growth We would like to thank the ISAI teams for their contribution which, in the last 3 years, has allowed Pandat Finance to really gain momentum.

Isabelle Hermetet and Martin Bouilleux, Partner and Director of Apax Partners, added: “We look forward to working alongside David Guyot and Thomas Forest and their teams and providing our support in the pursuit of their ambitious development strategy. Its great agility and the excellent expertise of the teams have allowed Pandat Finance to experience a remarkable growth trajectory. The group has built a leading position in its markets, which highlights its ability to combine growth sustained and the quality of service.”

Luc Heinrich and Maxime Margier-Aubert, Deputy Director and Director of Equity Mid Cap Participations at Bpifrance, underlined: “We were impressed and seduced by the dynamism of David and Thomas, their remarkable career and their vision for the future. We are happy to support them and Apax Partners in this new phase of development, working with the team on business acceleration, visibility and sustainability. »

Christophe Poupinel and Pierre Dumas, Partner and Investment Director at ISAI, state: “We are proud of the progress made with Thomas, David and their teams over the last three years: Pandat Finance has undergone a profound transformation and built a model of persistent growth. We wish Pandat Finance, Apax and Bpifrance much success in their next stage of growth.”

Operators of the operation

Nabarro Béraud Lawyers acted (Jonathan Nabarro, partner, and Marie Santunione, associate) as banking consultants and assisted Arkéa Banque Entreprises et Institutionnels, Caisse d’Epargne Hauts de France and Societe Generale in the context of the establishment of a credit agreement in favor of Bambou Développement comprising (i) an Acquisition and Refinancing Credit and (ii) an Unconfirmed Credit for the purchase of shares issued by Pandat Finance.
Lawyers Nabarro Béraud

Apax partners: Isabelle Hermetet, Martin Bouilleux, Antoine Desjeux
Bpifrance: Luc Heinrich, Maxime Margier-Aubert, Chloé Quiodo, Thibaut Cambuzat
ISAI: Christophe Poupinel, Antoine Lacour, Pierre Dumas

Buyer’s Advice
Company lawyer: Moncey (Guillaume Giuliani, Marie-Victoire James, Eléonore Coquerel)
Financial lawyer: Hogan Lovells (Alexander Premont, Luc Bontoux)
Tax lawyer: Moncey (Frédéric Bosc)
Financial due diligence: Pwc (Hervé Demoy, François Bourrelier)
Commercial due diligence: Pwc (Romain Godard, Thomas Peny Coblentz)
Regulatory due diligence: Pwc (Daniel Berlioz, Céline Diebolt)
Funding advisor: Natixis Partners (Patrice Raulin, Martin Chalanset)

M&A advice
Seller: Natixis Partners (Valérie Pellereau, Antoine Poupard, Ludovic Balkany, Mary Laroche)
Buyer: Newco (Jean-Louis Duverney, Alexandre Gebelin, Jeeshan Mohamad)

Transfer advice
Financial due diligence: Pwc (Philippe Serzec, Louis Terrier)
Corporate lawyer: Hogan Lovells (Stéphane Huten, Arnaud Deparday, Laura Medjoub)

Debt
Actors: Marc Lopet, Steven Neveu
Societe Generale: Caroline Marquaille, Audrey Pelletier
Hauts-de-France Savings and Provident Fund: Maxime Rime, Yoann Dolidon

About Pandat Finance
Pandat Finance is the expert cash investment broker for all legal entities.
Pandat Finance offers the best investment solutions, thanks to its network of more than 100 French and international financial partners. Its offices are located in Paris, Lyon and Bordeaux.
With more than 13 years of experience, today Pandat Finance has: 40 employees, 1,000 clients and 50 billion euros in investments.
www.pandat.fr

About Apax Partners
Apax Partners is one of the leaders of private equity in Europe. With 50 years of experience, Apax Partners supports companies in the long term to make them leaders in their sector. The funds managed and advised by Apax Partners are almost 5 billion euros. These funds invest in fast-growing SMEs and ETIs, in four areas of specialization: Tech & Telecom, Services, Health and Consumer Goods.
Apax Partners SAS, based in Paris (www.apax.fr), and Apax Partners LLP, based in London (www.apax.com), have a common history but are two independent companies.

About Bpifrance
Bpifrance finances companies – at every stage of their development – with loans, guarantees and equity. Bpifrance accompanies them in their innovation projects and internationally. Bpifrance now also secures its export business through a wide range of products. Consulting, university, networking and acceleration program for start-ups, PMI and ETI are also part of the offer offered to entrepreneurs.
Thanks to Bpifrance and its 50 regional locations, entrepreneurs benefit from a close, unique and efficient interlocutor to accompany them in their challenges.
www.bpifrance.fr

About ISAI
ISAI is a pioneer in investing in French Tech, co-founded in 2009 by four successful entrepreneurs: Pierre Kosciusko Morizet, Geoffroy Roux de Bézieux, Stéphane Treppoz and Ouriel Ohayon. ISAI offers a wide spectrum of financing ranging from venture capital (seed, pre-series A, series A to D), development and transmission capital (minority and majority), as well as non-dilutive financing for fast-growing companies growth (growth credits). ). With more than 550 million euros under management, 20 investment professionals and more than 300 entrepreneurs-insurers, ISAI has established itself today as a major player in French Technology. ISAI has been particularly involved in the successes of BlaBlaCar, 360Learning, Malt, Alma, Labelium, aDvens, etc.
www.isai.fr

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