Paris, April 13rd 2022 – Apax, one of the leading private equity firms in Europe, announces a record-breaking year in 2021.
“2021 was a record year for Apax. The Apax Midmarket X fund raised €1.6 billion, the largest fundraising in our history! The teams successfully carried out 10 investment and exit transactions, and doubled the amount initially set to be raised for APEO, our private equity fund dedicated to Retail investors. Our reported performance confirms the relevance of our investment strategy and our ability to implement value creation strategies for our portfolio companies.”
Eddie Misrahi, President of Apax.
“In 2022, we celebrate our 50th anniversary, proud of our historical performance and our investments but also ready to constantly question our stance, to adapt swiftly to new economic environments. We are currently enduring a very uncertain geopolitical and economic backdrop, but nevertheless remain confident for the months ahead as our investments have no direct exposure to either Ukraine or Russia.“
Bruno Candelier, Partner.
👉 Our 2021 annual report: https://www.seven2.eu/en/annual-report/
A very busy year in 2021
In 2021, Apax realised 10 transactions: three investments (Hifield, Efficy and Odin) for €370 million, three exits (Teknimed, Bip and Sandaya) and two partial exits (Expereo and Marlink) for €1.2 billion. Our MidMarket portfolio is very robust, delivering 18% growth in revenues. On small-caps, profitability of our portfolio companies jumped by 58% in 2021.
“To support these strong business levels and growth, we continued to consolidate our teams with the appointment of a new Tech & Telecom Partner: Henry Capelle, the recruitment of a Chief Sustainability Officer: Dominica Adam, as well as seven internal promotions and nine new hires.”
Thomas de Villeneuve, Partner.
Outperforming funds
With €5 billion in assets under management and 55 employees, Apax focuses its investment strategy on four sectors (Tech & Telecom, Healthcare, Consumer and Services), with four investment vehicles:
- Apax MidMarket (invested in French and European midcap companies) finalised its fund raising for Fund X, attracting €1.6bn, a record in the history of Apax, representing growth of 60% versus predecessor Fund IX. Fund X has already been nearly 35% rolled out in Groupe Crystal, Mentaal Beter, Odigo, Efficy and Odin.
- Apax Development (invested in French SMEs with its Apax Development Fund) delivered impressive numbers with 58% growth in EBITDA of its portfolio companies.
- Apax Private Equity Opportunities (APEO) exceeded its targets, raising €157 million with Retail investors via French life-insurance contracts over one year (the fund is currently referenced with four insurance companies and various platforms).
- Apax Philantrophy Fund with the target of raising €20 million by the end of 2022.
Strong ambitions
Apax benefits from a remarkable performance history, innovate in its products platform and consistently bolsters its teams by attracting new talents.
Our ambitions for the coming years are therefore strong:
- Launch the Apax Development Fund II, with the goal of raising €350 million which should kick off from the second half of 2022
- Double assets under management by 2025
- Develop our product platform
- Become truly pan-European
Contacts
Lauren Bardet
Apax – Head of communication
+33 6 16 32 72 82
lauren.bardet@seven2.eu
Jérôme Goaër – Verbatee
+33 6 61 61 79 34
j.goaer@verbatee.com
Valérie Sabineu – Verbatee
+33 6 61 61 76 73
v.sabineu@verbatee.com
About Apax
Apax is a leading European private equity firm based in Paris. With over 45 years of experience, Apax provides long-term equity financing to build and strengthen world-class companies. Funds managed and advised by Apax exceed €4.8 billion. These funds invest in fast-growing middle-market companies across four sectors of specialization: Tech & Telecom, Consumer, Healthcare and Services.
Paris-headquartered Apax SAS (www.apax.fr) and London-headquartered Apax LLP (www.apax.com) have a shared history but are separate, independent private equity firms.
www.apax.fr
@ApaxPartners_Fr
