La Banque Postale and French independent private equity firm Siparex have signed an agreement for the upcoming merger of La Banque Postale’s boutique XAnge Private Equity and Siparex.
The transaction, subject to regulatory approval, is expected to take place during Q3 2015.
Siparex would become the new major stakeholder of XAnge Private Equity, instead of La Banque Postale, which currently owns 90% of its boutique capital but will entirely sell its stake. In the same time, La Poste group, of whose La Banque Postale is part, will take a 20% stake in the new entity.
The upcoming merger highlights the complementary of both companies : Siparex for midmarket financing and regional investment, and XAnge for innovation financing.
Founded in 2004, XAnge Private Equity is based in France and Germany. It advises and manages €315m of assets. The firm focuses on innovation and growth capital/buyout, especially in the sector of new technologies.
Siparex provides private equity to midmarket companies and SMEs. It currently manages €1.2bn of assets and has offices in France, Italy and Spain. The firm has also signed partnerships in North Africa.