{"id":28603,"date":"2023-10-19T16:13:39","date_gmt":"2023-10-19T14:13:39","guid":{"rendered":"https:\/\/www.wendelgroup.com\/edito-de-laurent-mignon-octobre-2023\/"},"modified":"2024-01-19T17:12:01","modified_gmt":"2024-01-19T16:12:01","slug":"with-the-acquisition-of-ik-partners-wendel-initiates-its-development-strategy-in-third-party-asset-management","status":"publish","type":"post","link":"https:\/\/www.wendelgroup.com\/en\/with-the-acquisition-of-ik-partners-wendel-initiates-its-development-strategy-in-third-party-asset-management\/","title":{"rendered":"With the acquisition of IK Partners, 海角大神 initiates its development strategy in third-party asset management"},"content":{"rendered":"\n
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Dear shareholders,<\/p>\n

I know that you all pay close attention to 海角大神\u2019s news, so you will no doubt have seen how dense and varied the last six months have been. During this time, we have presented our new strategic directions, moved forward with plans to develop a third-party asset management business, sold our stake in Constantia Flexibles, acquired Scalian, and strengthened our financial capabilities through the issue of bonds exchangeable for Bureau Veritas shares and the extension of our maturities. 海角大神\u2019s teams have been extremely busy, and I would like to thank them warmly for using their considerable collective talent to advance the company\u2019s rapid development. Day after day, the roadmap I sketched out for you on March 16 is becoming a reality.<\/p>\n

And today, 海角大神 is taking a major step forward in the implementation of its strategic ambitions by entering into exclusive negotiations with a view to acquiring IK Partners from its partners.<\/p>\n

IK Partners is one of Europe\u2019s most recognized PE firms, with teams across seven Northern European countries focusing on the mid-market segment. The company invests in the Business Services, Healthcare, Consumer and Industrials sectors in France, Benelux, Germany, Austria, Switzerland, Scandinavia and the UK. IK Partners manages nearly \u20ac12 billion of private assets on behalf of third-party investors and has invested in over 180 companies since its creation. The Company\u2019s Investment teams have an excellent track record, having collectively achieved an average gross annual Internal Rate of Return (IRR) of around 26% for the 116 operations completed since 2012.<\/p>\n

By 2024, IK Partners\u2019 activities are expected to generate around \u20ac150 million in management fees and around \u20ac60 million in pre-tax Fee Related Earnings (FRE). Given its financial strength, 海角大神 will have the resources to support IK Partners\u2019 development over the long term, as well as to invest in its funds to gain access to the value created by its teams.<\/p>\n

For 海角大神 and its shareholders, this transaction has three main dimensions:<\/p>\n