Paris, 4 April 2014 – Apax Partners and Altamir have finalised the sale of Buy Way Personal Finance, one of the leading consumer credit institutions in Belgium and Luxembourg, to Chenavari Investment Managers.
Chenavari Investment Managers is delighted to work alongside the existing management team on the continued growth of the business, and management remains a significant shareholder.
About Buy Way Personal Finance
Historically a subsidiary of BNP Paribas, Buy Way manages a loan portfolio of approximately €400 million and employs around 250 people. The company's activity encompasses credit cards (issuance and management of cards, and management of revolving credit) and personal loans (including consumer credit and automobile loans).
In addition to its credit management business, Buy Way has developed a third-party credit card management system, in particular for Belgian bank KBC.
Altamir is a listed private equity company with more than €500 million in assets under management. The objective of Altamir is to grow its net asset value (NAV) per share and to outperform the most relevant indices (CAC Mid & Small, and LPX Europe).
Altamir invests via the funds managed by Apax Partners France, a leading private equity firm in French-speaking Europe, and via Apax Partners LLP, one of the world's leading private equity investment groups. Both firms target buyout and growth capital investments in which they are majority shareholders or lead investors, and help management teams to implement ambitious value creation plans.
Altamir provides access to a diversified portfolio of fast-growing companies across Apax's sectors of specialization: Technology, Media, Telecom, Retail & Consumer, Healthcare, and Business & Financial Services. The portfolio is also diversified by size and geography: mid-sized companies in French-speaking European countries; and larger companies across Europe, North America and key emerging markets (China, India, Brazil).
Altamir is listed, since its inception in 1995, on the NYSE Euronext Paris exchange, Compartment B, ticker: LTA, ISIN code: FR0000053837. It is listed on the CAC Small, CAC Mid & Small, CAC All-Tradable and LPX Europe indices, among others. The total number of Altamir ordinary shares in circulation at 31 December 2013 was 36,512,301.
For further information, please visit www.altamir.fr.
About Apax Partners
Apax Partners is a leading private equity firm in French-speaking European countries. With more than 40 years of experience, Apax Partners provides long-term equity financing to build and strengthen world-class companies. Funds managed and advised by Apax Partners exceed €2.5 billion.
These funds invest in fast-growing middle-market companies across six sectors of specialisation. Companies currently supported by Apax Partners are:
- Technology, Media and Telecom: Altran, GFI Informatique, Infopro Digital, and Vocalcom
- Retail & Consumer: ALAIN AFFLELOU, Europe Snacks, Groupe Royer, and Thom Europe (Histoire d'or, Marc Orian and TrésOr)
- Healthcare: Amplitude, Capio, DBV Technologies, and Unilabs
- Business & Financial Services: Albioma, Buy Way Personal Finance, Groupe INSEEC, and Texa
For more information, please visit www.apax.fr
About Chenavari Investment Managers
Chenavari Investment Managers (www.chenavari.com) is a specialist credit and structured finance asset manager focusing on European & Asian markets. With over 80 credit professionals and $4.7 billion AUM, Chenavari's funds targets niche investment strategies across Credit (Corporate and High yield, Financials, Credit Derivatives), Structured Finance (ABS, CMBS, Regulatory Capital) and Direct Lending(SME, Real Estate, Consumer Finance). Chenavari Investment Managers is authorized and regulated by several regulators globally, including the Luxembourg CSSF, UK FCA, the US SEC and the Hong Kong SFC.
Tel: +33 1 53 65 01 33
Tel.: + 33 1 53 65 01 35
Chenavari Investment Managers
Tel.: +44 207 259 36 00
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