Edmond de Rothschild Corporate Finance advises IDI and the Freeland Group on its merger with Invisia

News - 5/2/2019

Edmond de Rothschild Corporate Finance has taken on the role of purchase and funding advisor for IDI and the Freeland Group as part of the merger between the leading umbrella company, Freeland, and the third largest name in the sector, Invisia, which will create an undisputed leader in the freelancer services segment

IDI, a listed company specialising in capital investment, along with the shareholders of the Freeland Group and Invisia, have announced the signing of an exclusive agreement in preparation for the merger between the two groups. With support from IDI, which will become a shareholder once the deal is completed, the new Group will be the undisputed leader in services to freelancers, combining the strengths of two respected names in the market to create an entity with revenue in excess of €200 million.

This follows on from IDI's February announcement of an exclusive agreement with the Freeland Group.

Invisia is one of France's largest umbrella companies for freelance workers and corporate administration, and the leader in the sale-and-leaseback segment, recording revenues of nearly €85 million in 2018. Founded in 2003 by Frédéric and Hubert Camus and Renaud Vendel, the group has grown over the past fifteen years into the second largest in its sector.

In turn, the Freeland Group is the leading provider of services to freelancers and the country's largest umbrella company, and also supplies a wide range of services to self-employed workers, with revenues in 2018 of nearly €120 million. Freeland offers freelancers a means of success and helps them both build and effectively protect their professional and personal interests. Via its numerous services, Freeland helps 20,000 freelancers in France and 4 million people benefit from expert advice via the Freeland network.

Renaud Vendel, joint founder of Invisia: “Since 2003, our group has been helping freelancers with their professional development and need for social security. This merger with Freeland, under the guidance of IDI, will create amazing potential for combined growth and a comprehensive service offering for freelancers”.

Patrick Levy-Waitz, CEO of Freeland: “Freelancers were in need of a sizeable group that could provide the services that they required every day; that’s where we came in! Invisia and Freeland are leading names in their respective segments and they offer obvious synergies. With the help of IDI, we will have the means to develop a unique group for this market”.

Marco de Alfaro, Partner and Member of the IDI Executive Committee: “At IDI, the fact that we invest using our own equity has propelled us to seek out companies with the potential to become consolidation platforms within their sector. In this particular case, the consolidation is proceeding relatively quickly since the merger talks took place before the Freeland deal was closed, so both operations will go ahead at the same time. We want to thank the founders of Invisia for placing their trust in us, and for having had faith in this project from the outset and in its value-creating potential”.

 

 

IDI and Freeland Group Advisory

M&A Advisory: Edmond de Rothschild Corporate Finance (Arnaud Petit)

Financing advisory: Edmond de Rothschild Corporate Finance (Gregory Fradelizi)