Paris, 8 July 2022 – Apax, one of the leading private equity firms in Europe, announces the appointment of Isabelle Hermetet as Co-Head of Apax Development alongside Caroline Rémus, and announces the launch of the fund raising of Apax Development Fund II.
Apax Development Fund – Apax’s private equity fund dedicated to small caps – has developed considerably since its launch in 2018. In doing so, the Fund has invested €15 to €50 million in French SMEs with strong growth potential. Over the last few years, investment has been directed into several companies. The latter include Maison Routin-1883 – a producer of flavouring syrups for coffee shops-, BTP Consultants – a leading player in Testing, Inspection & Certification (TIC) for the construction industry –, Diapason – a software provider of cash management solutions –, and Hifield – a cybersecurity consulting firm.
To date, Apax Development Fund’s portfolio comprises 7 companies which reported a surge in profitability of nearly 60% during 2021.
In addition, Apax Development is set to launch Apax Development Fund II, with the goal of raising €350 million which should kick off from the second half of 2022. The fund will mainly invest in French SMEs, in Apax’s 4 specialisation sectors (Tech & Telecom, Business and Financial Services, Health, Consumer Goods), for investment amounts ranging from 15 to 50 million euros. The team seeks to attract institutional and also private investors, who will be able to invest from €100,000 through the feeder fund.
Caroline Rémus, Head of Apax Development since 2011, commented: “Apax Development’s success is driven by the quality of our portfolio investments, but also by the values instilled in our investment team: passion, trust, excellence and team spirit. I am glad to work alongside Isabelle since a decade and I am thrilled to be co-heading Apax Development with her. Isabelle’s outstanding track record combined with her excellent investments in Tech and Services companies, and exits performance, provide good prospects for Apax Development. Isabelle’s promotion also reflects our ambitions for growth.”
Isabelle Hermetet added: “Thanks to the strength and commitment of our team, we have already deployed 70% of our funds. Moreover, all of our portfolio companies are high-performing. We have now reached a pivotal stage with a focus on planning our expansion through our second fund raising. There will be new additions to our team, with arrival expected in the months ahead. I have enjoyed sharing a human-centred adventure of entrepreneurship with Caroline for many years. It is a privilege to be appointed Co-Head and I look forward to working with Caroline as we step up the growth of Apax Development and its portfolio companies.”
Isabelle Hermetet is a graduate of the ESSEC Business School. In 1992, she joined Société Générale where she dedicated the onset of her career to credit analysis, performing it in New York, Paris and Frankfurt. She then continued her professional path in Germany, proceeding to M&A followed by the Department of Structured Financing. In 1997, Isabelle joined EPF Partners, which was acquired by Apax shortly after.
Contacts
Lauren Bardet
Apax – Directrice de la 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 one of the leading private equity firms in Europe. With over 45 years of experience, Apax works with companies over the long term to make them leaders in their sector. The funds managed and advised by Apax amount to over €4.5 billion. These funds invest in high-growth SMEs and SMIs in four sectors of specialisation: Tech & Telecom, Services, Health and Consumer Goods.
Apax sas, based in Paris (www.seven2.fr), and Apax LLP, based in London (www.seven2.com), have a common history but are two independent firms.
