The KKR investment fund has taken a majority stake in April, this brokerage firm announced on Friday, which wants to “give itself the means to become a player on a global scale”.
Acquired in 2019 by another investment fund, CVC Capital Partners, the April group announced in a press release a long-term strategic partnership with KKR. Concretely, the latter becomes the majority shareholder of the brokerage firm, which did not specify the amount of the transaction.
The Lyon group had been bought on the basis of a valuation of 900 million euros in 2019 and CVC was seeking to sell it for an amount between 2 and 2.5 billion euros, according to information from Argus de l’assurance in June.
Describing itself as a French champion of insurance distribution, April, with 544 million euros in turnover in 2021 and a dynamic of double-digit growth in 2022, therefore believes that it is giving itself the means to become a player on a global scale.
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April boasts a network of 15,000 partner brokers and operates in 17 countries, including Germany where it opened a branch in mid-November. Welcoming a formidable collaboration with CVC Capital Partners, the president of the April group Eric Maumy, quoted in the press release, now hopes to make it a French champion on a world scale.