DNA

Leading private equity firm in Europe

There are many entrepreneurs in France and elsewhere in Europe aiming to make their companies champions of their industries, both at home and abroad. To succeed, these entrepreneurs need the backing of a committed investor who can provide vital resources and support.

We, at Apax Partners, are motivated by realising the potential of these companies and developing them. Our 45 years of experience and sector specialisation represent the key strengths that make us the right choice. They enable us to identify the most promising companies in our specialist sectors, understand their growth drivers and support their management as they work to achieve their ambitions.

Apax Partners réussit à ceux qui veulent réussir. Our strong values and ethics also set us apart. We pride ourselves on being a professional, respectful, exacting and bold partner.

By selecting Apax Partners, entrepreneurs are choosing a committed, supportive and stimulating investor who will share their vision, their strategy and their long-term development.

Our success is built on the close, trust-based relationships that our teams have with our entrepreneurs and investors alike, and on our desire to succeed as a team.

Apax Partners is an established, leading private equity firm both in France and in Europe. We assist entrepreneurs who have ambitious growth plans for their business.

An independent company, wholly owned by its Partners

« Our independence is our strength: decisions are made in Paris, directly and efficiently. As entrepreneurs ourselves, we understand the needs of the business owners who come to us. »

Eddie Misrahi

Interview

2017 was an especially active year:

PERFORMANCE
We invested €317m in three new companies and follow-on investments in existing portfolio companies; we received €280m in proceeds.

POSITIVE ACTIVITY

In 2017, our portfolio companies again demonstrated their ability to create value: their revenue grew on average by 16% and their EBITDA by 18%, and we carried out 19 build-ups on them. Seven of the nine mid-sized companies in our portfolio ranked among the 150 that outperformed in France, and four of them were in the top ten.

EUROPEAN EXPANSION
2018 is set to be just as active as 2017. Our next challenges are to complete the Development activity’s first fundraising and continue to grow in Europe. After recruiting a new Senior Advisor for the Benelux countries, we have our sights set on Italy and the opening of our new office in Milan and the recruitment of a Senior Advisor.

2017 Key figures

3.3
bn
funds managed and advised
278
m
proceeds across all funds
317
m
investments and commitments including...
110
m
...co-invested by our investors
24
portfolio companies at 31 December 2017

Portfolio companies

16
%
Average revenue growth
18
%
Average EBITDA growth

Pioneer OF THE PRIVATE EQUITY INDUSTRY

 

Apax Partners is a pioneer of the private equity industry in Europe and in particular in France. In 1983, it raised the first fund exclusively targeting French investments, which became the first FCPR (Fonds Commun de Placement à Risques) to be launched in France. France Invest, the French private equity investors association (ex-AFIC) was created in 1984, co-founded by Apax Partners’ founder Maurice Tchenio and four other investment professionals.

Today, Apax Partners is one of the most dynamic private equity firms operating in the French speaking mid-market.

1972: Maurice Tchenio and Ronald Cohen found Apax Partners’ predecessor Multinational Management Group (MMG) in France and the UK

1976: MMG and Alan Patricof Associates (US) join forces

1983: Apax Partners initiates France’s first venture capital fund, or FCPR (Fonds Communs de Placement à Risques), with francs 100m.

1984: Co-foundation of France Invest, the French private equity investors association (ex-AFIC)

1990: The firm adopts a sector-focused strategy

1991: MMG is renamed Apax Partners

2006: Apax Partners in France decides to maintain its mid-market focus and independence from the other Apax Partners entities

2010: Apax Partners’ founder passes control of the firm to its partners

2015: The Apax France VIII fund is more than 87% invested

2016: Apax France IX raises €1,030m

2017: Entry into small cap business with the acquisition of EPF Partners. Apax Partners is now organised into two investment activities: MidMarket (capitalisation €50–200 million) and Development (capitalisation €10–30 million)

2018: Apax Partners extends European reach with the opening of an office in Italy and the appointments of a Senior Advisor Italy as well as a Senior Advisor in Benelux

Business Model

Apax Talks

NEWSLETTER

Apax Talks is a digital magazine aimed at company managers. It presents growth levers for SMEs, with a focus on TMT, consumer, healthcare and services sectors.