Transaction news Cobepa

Founded in 1970, Ascentiel has established itself as a leading digital brokerage platform specialising in the distribution and management of non-life insurance contracts for both individuals and professionals. Having developed significant expertise in the field of motor insurance, the Group mainly focuses on near-to-sub-standard motor insurance risks, leveraging the prominence of its flagship brand Assurpeople.com and its fully digital customer experience. The Group covers the entire insurance distribution cycle, from product co-development with insurers to underwriting or contract and claim management.

In recent years, Ascentiel has continued to diversify its offering to include attractive new specialty P&C products, most notably through the highly successful launch of Airbag, a wholesale brokerage platform specialised in inherent defect insurance for construction professionals. The Group has also successfully executed add-on acquisitions, including Atara in 2022, SACAPP-SAA in 2024 and NIBW in 2024.
The acquisition of Atara strengthened the Group's position in the pet insurance sector, the acquisition of SACAPP-SAA in the home insurance segment, while the acquisition of NIBW facilitated the Group's geographic expansion into Spain and Portugal. Ascentiel is currently led by Bertrand Liber who joined the company in 2008. Following the completion of the transaction, he will step down and remain a significant shareholder, while Julien Ben Lahcen, who joined Ascentiel in 2021, will become the new CEO. At present, Ascentiel employs over 180 people who are based across its headquarters in Rueil-Malmaison as well as its offices in Aix-en-Provence and Madrid. In partnership with leading insurance companies operating in France, Ascentiel manages contracts for over 220,000 end-clients.

“I would like to thank IK and ISAI for the strong run together since 2021. I am convinced Cobepa will be a great financial partner to assist Julien and the amazing Ascentiel team to deliver an even more successful path in the coming years.” - Bertrand Liber, CEO of Ascentiel.

“We are delighted to be embarking on this new phase of growth with Cobepa, choice of which was dictated by the desire to have a solid, trusted shareholder with a strong entrepreneurial culture and a “hands-with” approach with the management teams. We would like to thank IK and ISAI for their support during the previous round, which saw the company's revenues more than double organically.” - Julien Ben Lahcen, Ascentiel’s Managing Director for Personal Lines.

"We look forward to partnering with Julien and his experienced team to support Ascentiel in its next chapter of growth. We believe that Ascentiel is a highly differentiated insurance broker thanks to a unique combination of strong reputation and expertise, long-standing relationships with insurers, operational excellence and a proven ability to deliver strong and profitable organic growth over a long period of time. Going forward, Ascentiel has legitimate ambitions to build on its leading position in the near-to-sub-standard motor market and its other attractive niches, and to expand its European presence, starting with its recent acquisition in Spain. We are fully committed to contributing our resources to its success.” - Jean-Marie Laurent Josi, CEO of Cobepa.

“With the support of IK and ISAI, Ascentiel has firmly established itself as a market-leading digital brokerage platform. Over the past four years we have supported the Group with several strategic developments, including a broadening of the product suite and the initiation of international expansion. We would like to congratulate Bertrand and his team for all they have achieved in recent years and wish Ascentiel all the best for the future.” - Arnaud Bosc, Partner at IK Partners and Advisor to the IK Small Cap II Fund.

Buy-side Advisors

• M&A: Natixis Partners (Driss Mernissi), Messier & Associés, Nemrod Partenaires (Pierre Albouy)
• Lawyers: White & Case (Marc Petitier, Laure Bauduret), Simpson Thacher & Bartlett (Hadrien Servais), Weil (Jean-Christophe David) Commercial due diligence: Roland Berger (Christophe Angoulvant)
• Financial & Ops due diligence : Eight Advisory (Emmanuel Riou)
• Legal, Tax, Social & Regulatory due diligence : KPMG (Xavier Houard)
• IT due diligence: Singulier (David Toledano)

Sell-side Advisors M&A:

• Rothschild & Co (Pierre Sader, Philippe Dubois de Montreynaud, Nicolas Faugeroux)
• Lawyers: Willkie Farr & Gallagher (Eduardo Fernandez, Hugo Nocerino)  
• Management advisors: Delaby Dorison (Emmanuel Delaby, Clément Martin, Bruno Dias)  Valoren (Christine Le Breton, Capucine Mesas)
• Commercial due diligence: Kearney (Jérôme Souied, Daniel Dadoun, Albéric Fischer)
• Financial, Legal, Tax, Social & Regulatory due diligence: PwC (Céline Appel Schneider)
• IT due diligence: Akvize (Mickaël Maindron) 

About Ascentiel Groupe

Founded in 1970, Ascentiel Groupe ("Ascentiel") has evolved into a premier insurance brokerage group, encompassing eight distinct brands, catering to both individual and professional insurance markets. Ascentiel offers a comprehensive suite of insurance solutions, ranging from auto, animal health and home coverage for individuals to specialized products for commercial clients, including decennial liability coverage for construction professionals and insurance for commercial vehicle fleets. Operating under delegated authorities, Ascentiel manages all aspects of policy lifecycle, from underwriting to claims management, ensuring top-tier service and compliance. For more information, visit ascentiel-groupe.com  

About Cobepa

Cobepa is an independent, privately held investment company with offices in New York, Brussels, and Munich. Cobepa manages a diverse portfolio of private equity investments representing approximately €4.7 billion of equity capital. Cobepa invests in leading companies with superior business models, sustainable market positions and leading management teams.  For more information, visit cobepa.com  

About Amundi Real Assets & Alternatives

Amundi Real Assets & Alternatives brings together a complete range of capabilities in real estate, private debt, private equity, infrastructure, multi-management and alternatives. Drawing on decades of experience in private markets, Amundi facilitates access to real assets for institutional and retail investors through innovative investment solutions. With €71 billion in assets under management (as at 30/09/2024), Amundi Real Assets & Alternatives relies on around 330 professionals based in our main investment hubs in Paris, London, Milan, Luxembourg, Barcelona, Madrid, Zurich and Dublin.

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €17 billion of capital and invested in over 195 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, wellpositioned businesses with excellent long-term prospects. For more information, visit ikpartners.com.  

About ISAI Gestion

ISAI Gestion (« ISAI ») is one of the pioneers in the French Tech ecosystem. Co-founded in 2009 "by and for" Tech entrepreneurs, ISAI gathers today more than 450 Entrepreneurs-LPs alongside major Institutional Investors. With offices in Paris, London, Milan and NYC, ISAI manages c. €900 million across four investment strategies: Early-Stage Venture, Corporate Venture, Growth Lending and Tech Buyout. For more information, visit isai.vc