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Fundraising for IMMO CITY from ANDERA PARTNERS

Paris (France), 09 november 2021,

FDC advised the shareholders of Immo City on a capital increase (between €10 and €20 million) with the smid-cap investment fund Andera Partners, which became a minority shareholder of the Group via its vehicle Andera Expansion 3.

Created in 1999 around the historic agency based on boulevard Voltaire in the 11th arrondissement of Paris, Immo City is today a property management group composed of 8 entities (and 9 agencies) located in Paris and its suburbs. In 22 years, the Group has built up a solid portfolio of condominiums and rental properties, thus positioning itself as a leader in the sector in the Paris area. With its 110 employees, Immo City records a turnover between €10 and 15 million, a portfolio of 24,000 condominium lots under management and nearly 800 property transactions and rentals each year.

Following a fundraising process led by FDC, the Group’s shareholders have chosen Andera Partners as their financial partner. This summer, the smid-cap investment fund had already acquired an equity stake in the asset management firm Patrimmofi, as well as in Panhard Group in 2020, a property developer specializing in logistics real estate. This new financial partner will enable Immo City to pursue its external growth strategy in a market that is still very fragmented.

This transaction illustrates the ability of FDC to initiate transactions between the management of successful companies and relevant financial partners in order to help them build ambitious projects in terms of strategy and finance.


List of advisors:

Advisors to sellers:

  • Company: Immo City (David Giuly, Robin Soulier, Patrick Frigaux)
  • Legal: Jeausserand Audouard (David Lambert, Jean-Baptiste Afchain)
  • M&A: Financière de Courcelles (Matthieu de Baynast, Audrey Gennequin, Florian Jover, Yanis Alaoui)

Advisors to buyers:

  • Investment fund: Andera Partners (David Robin, Léopold Brichard, Victor Cabaud)
  • Legal: McDermott Will & Emery (Grégoire Andrieux , Antoine Ricol , Tess Souquet-Basiege , Côme de Saint-Vincent)
  • Social Due Diligence: Fidal (Lorraine Raimbert-Nusse)
  • Financial Due Diligence: Oderis (Julien Passerat, Paul Locatelli)
  • Strategic Due Diligence: CMI Stratégies (Nicolas Kandel, Simon Colboc, Nicola Virgata)

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