Region: France,
Sector: Business Services

Nature of Business

Cerenicimo is the leading French distributor of specialty rental real estate products, exclusively sold through Independent Private Investment Advisers (‘IPIA’) and via www.cerenicimo.fr. The business has seen strong growth in recent years, driven by the demand for retirement homes, the expanding tourism industry and the under-capacity of student accommodation.

Cerenicimo was formed in 1995 and has the unique positioning of being the only sizeable distributor on the IPIA market with an unmatched reputation of quality and reliability.

Investment Overview

We were introduced to CEO Benjamin Nicaise in 2006, during his search for a financial partner to help develop and grow his business. We invested €18m to help tap into the fast-growing underlying markets and to fund new residential investment products.

We have worked closely with the business and drawing from our experience with the French property website ‘Se Loger’, we have strengthened the management team and put in place strong governance. Despite the impact on the financial services sector from the credit crunch, Cerenicimo has performed well and almost doubled its revenues and profits between 2006 and 2013.

Regulatory notice: This transaction involved a recommendation of 3i Investments plc, advised by 3i France.

3i office contact

3 rue Paul Cézanne
75008 Paris
Tel: + 33 1 73 15 11 00

Private Equity Team
Please wait