Eurazeo enters the capital of Sevetys – 08/04/2022 at 6:06 p.m.


(AOF) – Eurazeo today announces its entry into the capital of Sevetys alongside the management team and associated veterinarians. This investment should represent a total amount of approximately 250 million euros. Founded in 2017, Sevetys is a group of veterinary care establishments with more than 200 clinics spread throughout France. The group, which mainly specializes in care dedicated to companion animals, is expanding with the integration of more than 80 new structures since the beginning of 2022.

Today, the Sevetys group is positioned as one of the main French market players, with a network structured around fifteen regional platforms.

Through its investment, Eurazeo wishes to support the Sevetys group in accelerating its development strategy. Eurazeo is convinced of the potential of the Sevetys group to become the benchmark French platform for veterinary clinics.

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Key points

– Global investment company created in 2001;

– €31 billion in assets under management, of which 69% on behalf of third parties: 74% in private equity, 21% in private debt and 5% in real estate;

– Business model: 4 strengths: equity guaranteeing the group’s independence, a strong presence in 10 countries and 4 continents, strong and longstanding commitment to CSR / 2 priorities: to become the reference investment platform in Europe , each division being No. 1 in its market, and continuing the fundraising dynamic / 2 complementary growth challenges: asset management for predictable and recurring income and investment in companies not exposed to cycles or strong growth potential;

– Private equity with Eurazeo Capital: companies valued at over €200m, SMEs (€50 to €200m), EuroBrands (brands with international potential), Eurazeo Growth (technology companies with a proven business model), China Acceleration, Venture (digital-focused innovation capital), Private Debt (European SMEs and ETIs, etc.);

– Capital structured between JC Decaux holding (17.86%), the Michel David-Weill family (16.71%) and the Richardson family (3.55%), Jean-Charles Decaux chairing the 15-member supervisory board and Virginie Morgon the executive board;

– Solid debt-free balance sheet with net cash of €550bn in equity at end-June and €1.1bn in cash.

Challenges

– Strategy aiming to double assets under management to €60 billion in 2026-2028 and a margin of 35-40% compared to 30% in 2021;

– Innovation strategy led by a digital committee within the supervisory board in charge of accelerating the integration of digital into operational activities, analyzing the digital environment and assessing cyber risk;

– “O +“ environmental strategy aiming for net zero emissions by 2040: positioning on the low carbon economy, integration of the cost of carbon in the performance measurement of the investment cycle, integration of the carbon variable in the entire investment cycle investment / 80% of active funds with a CSR investment policy / 20% of managed funds dedicated to the low-carbon economy – maritime, sustainable and digital infrastructure or health…;

– Balance of the portfolio, no company representing +10% of the NAV and the share of listed companies being limited to 4%.

Challenges

– Monitoring of the revalued net assets, of €111.8, to be compared to the stock market price;

– Reinforcement of positions in tech (1

er

investor in France and Europe) and in the “brands” activity for the deployment of strong brands;

– 2022 anticipations: after €5.2 billion in fundraising in 2021, securing €550 million in fundraising for the current financial year and continued disposals after those of Orolia and Reden Solar before a year 2023 rich in disposals:

– 2021 dividend of €3, including €1.25 exceptional.



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