11 January 2022

Ciméa Patrimoine x Groupe Cyrus x Bridgepoint Development Capital

Cession

In order to support the strong development of their firm and in the interest of their clients, the partners of Ciméa Patrimoine have joined forces with a major player in the field of asset management, the Cyrus Group.

Client Ciméa Patrimoine

For 30 years, Ciméa Patrimoine has been supporting its clients at every stage of their lives through a proven methodology and excellent know-how in wealth management. Ciméa Patrimoine has a team of 15 experts with a wide range of skills. The firm currently manages nearly EUR 400 million in assets. This team is very close to the region's business leaders and assists them in particular with club deals and fundraising to finance the regional economy

Contrepartie Groupe Cyrus

With 32 years of experience and 19 offices throughout France, the Cyrus Group assists entrepreneurs, executives and families in managing their wealth. Today, it is the leading independent private banking firm in France with €9.3 billion in assets under management on behalf of 5,000 families. The Group, 65% of which is owned by managers and employees, is organised around five areas of expertise: wealth engineering, financial asset management with Amplegest and Invest AM, real estate investment with Eternam, structured products and customised solutions in non-listed companies.

Contrepartie Bridgepoint Development Capital

With a team of 35 professionals in Europe (including 12 in Paris), Bridgepoint Development Capital (BDC), the mid-cap business of the international private equity group Bridgepoint, is one of the few investors able to support the international development of small and medium-sized companies, thanks to the support of the group's nine investment offices and its operational teams based in New York, San Francisco and Shanghai. Bridgepoint Development Capital (BDC) invests in equity deals ranging from €40m to €150m, with a BDC IV fund raised in 2020 of €1.7bn. BDC's current portfolio consists of 8 companies: Sotralu (acquired in 2014), Anaveo (acquired in 2015), CIR (acquired in October 2017), PrivateSportShop (acquired in 2018), Bee2Link (acquired in 2019), Cyrus and Sendinblue (acquired in 2020) and Plug In Digital (acquired in 2021).

The merger between Ciméa Patrimoine and the Cyrus Group is part of a common desire to create a leading private asset management company in the Grand Ouest region. The 56 employees of the new regional entity now manage nearly one billion euros in six offices: La Roche-sur-Yon, Nantes, Angers, Vannes, Le Mans and Rennes.

To support them in this structuring operation, the partners of Ciméa Patrimoine entrusted PAX Corporate Finance with the task of soliciting the appropriate partners. At the end of a disputed process, the six shareholders of Ciméa Patrimoine chose the Cyrus Group, which they join as partners to participate in the development of the new entity.

With this operation, the Cyrus Group is pleased to reach 9.3 billion euros under management with four external growth operations carried out in 2021 for a total of 3.7 billion euros, Financière Conseil, Altixia Reim, Amplegest and Ciméa Patrimoine.

Ciméa

According to Jean-François Boudaud, Managing Director of Ciméa Patrimoine: "CIMEA has been developing strongly for several years and we wanted to secure the quality of our tailor-made services by joining forces with GROUPE CYRUS, a leader in France, sharing the same corporate values, the same client DNA and the same vision of the profession and the business. The exchanges between the teams confirmed the respective skills and the challenges of this merger to always be one step ahead in serving our clients.

Meyer Azogui, Chairman of the Cyrus Group, said: "The seven Cyrus offices in the West, with more than €1 billion in assets and more than 50 employees and partners, represent a solid and complementary team to make the Cyrus brand resonate in the region. We will thus be even closer to our clients and will strengthen our presence with our partners in accountancy, lawyers and notaries.

Bertrand Demesse, Partner at Bridgepoint Development Capital: "This acquisition enables Cyrus to strengthen its territorial presence in the West region and is in line with the Group's proactive consolidation policy. Since BDC joined the management team in 2020, Cyrus has acquired six companies with a total of €3.9bn in assets under management: V2A Patrimoine, ACS Finances, Financière Conseil Altixia Reim, Amplegest and Ciméa Patrimoine.