— Assets.

The founding shareholder of PSA Group, FFP has diversified its assets through investments in line with its family values.

 

With more than €5 billion gross assets value as of 2019 June 30th, FFP holds direct and indirect stakes in many sectors of activity such as industry, business and personal services, and consumer goods.

 
 
 
FFP's assets
 
 
As at Jun 30, 2019

PSA Group

 

Our historical asset

Groupe PSA
 

Investment

9.3%

PSA Group is Europe’s second largest car manufacturer. After the acquisition of General Motors’ European business, its growth relies on five car brands – Peugeot, Citroën, DS, Opel and Vauxhall, each with its own worldwide reputation and distinct personality – as part of co-ordinated international strategies and a coherent product plan. PSA Group is also active in automotive financing via Banque PSA Finance, and automotive equipment via Faurecia. The group retains a 25% interest in Gefco, a transport and logistics company.


see PSA Group

shareholdings

 

7 listed assets & 5 non listed assets

At the heart of its strategy, FFP holds direct stakes in listed and non-listed companies.

FFP acts as a minority shareholder capable of supporting the development of its shareholdings over the long term, in particular because its operations are financed with its own balance sheet. FFP's equity investments are subject to prior due diligence to ensure that there is a convergence of views on ownership, strategy and corporate values.

LISI

19.0

 % of capital

since 1977

Groupe SEB

5.0

 % of capital

since 2004

Safran

0.7

 % of capital

since 2018

ORPEA

5.0

 % of capital

since 2011

CIEL

7.6

 % of capital

since 2014

Groupe Tikehau

since 2016

SPIE

5.5

 % of capital

since 2017

Acteon

since 2019

Total Eren

4.5

 % of capital

since 2015

LDAP

45.0

 % of capital

since 2013

Château Guiraud

74.9

 % of capital

since 2006

co-investments

 

12 co-investments

To invest in specific geographies or sectors, FFP works with various partners.

FFP is invested in co-investment operations with specialized partners in certain sectors or geographies that are less directly accessible by FFP. 

with  JAB Holding Company

since 2016

with  ECP, Wendel

since 2013

with  ArchiMed

since 2018

with  PAI Partners

Netherlands

since 2016

Netherlands-based Roompot develops, owns and operates holiday villages and campsites. It is the leading player in the Dutch market, where it owns properties mainly along the coast, and also operates to a lesser extent in Belgium and France. Its complexes attract almost 560,000 reservations per year, equivalent to 11.7 million nights of accommodation. In 2018, Roompot’s revenue totalled €355 million.

FFP committed up to €11m in Roompot

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with  Certares

Europe

since 2017

AmaWaterways is a family-controlled company that has been organising luxury river cruises, mainly in Europe and for English-speaking holidaymakers, since 2002. AmaWaterways operates 23 vessels that sail on the Danube, Rhine, Moselle, Main, Rhône, Seine and Garonne rivers, along with waterways in Belgium and the Netherlands, the Douro, the Mekong in Southeast Asia and the Chobe in Africa.

FFP invested $25m in AmaWaterways.

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with  BayGrove

United States

since 2017

Lineage is North America’s second-largest logistics group specialising in cold-chain solutions for the agri-food industry, mainly producers and wholesalers but also mass retailers. The company operates more than 110 sites in 20 US states, along with 17 in Europe, with almost 9,000 employees.

Its offers extends beyond deep freeze storage (-15°C to -40°C) and include value-added services including deep freezing, repackaging, outsourced order management and logistics. Lineage generated more than $1.4 billion of revenue in 2018.

Lineage generated more than $1.4 billion of revenue in 2018. In the first half of 2019, Lineage completed the acquisition of Preferred Freezer (#3 player in the US), and thus became the largest global player. 

FFP invested 25 M$ in Lineage in 2017, with a 15 M$ folllow-on investment in 2019 as part of a capital increase to finance the acquisition of Preferred Freezer.

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with  Levine Leichtman Capital Partners

United States

since 2017

Capsa Healthcare is a leading US producer of several types of medical equipment, serving healthcare providers such as hospitals, clinics, nursing homes and pharmacies. The company designs, produces and sells medication carts (with or without mobile IT hardware), sterile preparation workstations and automated drug management systems. Capsa is the result of a series of acquisitions carried out by its management since 2008, with the support of an American family and then Levine Leichtman Capital Partners.

FFP invested $18m in Capsa.

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with  Apax Partners

France

since 2017

CIPRÉS Assurances, founded in 2000, is now France’s second- largest wholesale insurance broker and 15th largest insurance broker overall. The group designs and manages health and death/disability insurance solutions for entrepreneurs and SMEs. CIPRÉS Assurances offers a comprehensive range of products and services to protect customers’ incomes, preserve their wealth, protect their health and safeguard them against life’s accidents. It distributes them through a network of 7,000 independent brokers across France. Through Axelliance Conseil, the group also offers a range of products and services for large corporate customers.

In 2018, CIPRÉS Assurances generated revenue of €148 million and its annual premium collection was €530 million (proforma figures taking into account the combination with Axelliance in 2018).

FFP a investi €15m in CIPRÉS Assurances. 

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with  IDI Emerging Markets SA

Nigeria

since 2018

Big Bottling Company produces and distributes carbonated and non-alcoholic beverages in Nigeria. Its main product is BIG (cola, lemon and orange flavours). The company was created when the AJE group – one of the largest multinationals in the beverages sector with a presence in more than 20 countries in South America, Africa and Asia – spun off its Nigerian division.

Big Bottling Company directly employs 250 people at its plant near Lagos and its target production volume is around 23 million boxes per year.

FFP invested $10m in the Big Bottling Company.

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with  PAI Partners

Worldwide

since 2018

Asmodee, founded in 1995, produces and distributes board games and collectible cards. It is a world leader in its sector, with a presence in Europe, North America and China and almost 1,000 employees. Asmodee has a catalogue of 3,000 games and launches almost 300 new games each year. In 2018, Asmodee generated revenue of €419 million, 80% of which came from outside France.

FFP invested €20m in Asmodee

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with  Reverence Capital

United States

since 2019

Transact is a US leading software & payment platform dedicated to higher education institutions. Transact solutions underpin a wide range of services for universities, students and their parents, all based on a unified credential: online payment of tuitions, payment of on and off campus services (dining, book stores, laundry etc.), campus access management (library, fitness etc.), class attendance etc. Transact serves more than 1 300 higher education institutions in the US and processes more than 40 $Bn in transactions annually.

FFP invested $15m in Transact.

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with  Crescent Point

China

since 2019

The Lian is a leading brand e-commerce integrated services provider in China, focused on Asian and mid-sized cosmetics and skincare brands. The company, headquartered in Shanghai, is a B2B outsourcing partner for cosmetics brand (also called “Tmall partner”) allowing them to access the Chinese market through brand-authorized flagship stores, mainly on Tmall as well as other major online commerce and referencing platforms (JD.com, VIPShop, Little Red Book).

FFP invested $14m out of a total commitment of $20m.

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private equity funds

 

1 asset & diversified commitments

FFP has a portfolio of private equity funds, split between the United States, Europe and emerging countries. FFP is also a shareholder of IDI, a small cap investment firm.

Since 2002, FFP has made commitments in private equity funds. This asset class allows FFP to access a large number of companies and sectors of activity with a long-term approach. It also allows it to access sectors or geographical areas to which it would have direct access only with difficulty.

FFP's portfolio is mainly composed of buyout (LBO), expansion, technology growth capital funds and impact investing funds.

In 2018, €122 million were committed to 9 funds, 70 million were called and €33 million distributed .

Total amounts committed

652m

Total capital called

384m

Total capital distributed

268m

Portfolio valuation in 2018

247m

Total amounts committed

652m

Total capital called

384m

Total capital distributed

268m

Portfolio valuation in 2018

247m

IDI

10.1

 % of capital

since 2006

Commitments

Advent

LBO

Global

DBAG

LBO

Europe

Veritas

LBO

United States

PAI

LBO

Europe

Montefiore

LBO

Europe

K4

Growth

United States

Keensight V

Growth

Europe

Warburg Pincus XIII

Growth

Worldwide

Valor

Growth

United States

K1

Growth

United States

Idinvest Digital III

Venture

Europe

Alter Equity II

Impact

Europe

real estate

 

2 assets & co-investments and funds

FFP invests in prime, value-add or development real estate projects, through direct investments, real estate funds or co-investments alongside trusted partners with a proven track record.

Immobilière Dassault

19.7

 % of capital

since 2006

Signa Prime Selection

5.0

 % of capital

since 2019

ELV

since 2015

Tour Marchand - OCPI Lapillus II

since 2016

Commitments

White Stone VI et VII

Real estate development

France

Icawood

Real estate development

France

TREO

Real estate development

Europe