Ardian expansion acquires majority stake in Opteven

Capzanine, a European private investment management fund, is reinvesting in the company alongside management, marking an opportunity for more than 150 employees to either reinvest or start purchasing shares in the company. 

The deal will allow the company to continue its organic growth and to reinforce its external growth strategy.

Founded in 1985 and headquartered in Lyon, Opteven is a leader in the automotive service and mobility contract markets in both France and Europe. Opteven is a specialist in mechanical breakdown cover and roadside assistance. It also operates in home assistance, healthcare, and personal services. 

The company has experienced strong growth for 10 years. It currently generates nearly €150 million in turnover and has more than 450 employees.

Opteven is recognized for the quality of its service, earning trust from its customers, who include professionals in the automotive industry including builders, distributors, lessors, and fleets, in addition to the insurance and bancassurance industries. 

To track and anticipate changes in the market, the company has made a shift to digital. Its own internal Opteven Lab detects and provides information on the development of new trends in areas such as mobility, assistance, the environment, and responsible development and tests and develops innovative solutions integrating new technologies and taking new forms of mobility into account. 

Opteven currently operates in seven countries in Europe and has opened subsidiaries in Italy, the United Kingdom, and Spain in order to pursue its growth in major markets.  

Jean-Matthieu Biseau, CEO of Opteven, said: “Opteven’s positioning in both the mechanical failure cover and assistance markets makes it a unique player. Opteven is competing in a growing market that is also experiencing consolidation. It was therefore essential for us to find a partner who is able to help us grow in Europe by supporting our ambitious strategy, particularly in terms of acquisitions”.

Marie Arnaud-Battandier, Managing Director at Ardian Expansion, added: “We look forward to working alongside Opteven’s high-quality management team who are backed by an excellent track record. In particular, we will help Opteven gain access to our European network to help it accelerate its international growth by opening subsidiaries and identifying potential targets for its first external growth operation”.

Benoit Choppin, Associate Director at Capzanine, added: “This has been a great journey with the company over the past five years, and we’ve especially appreciated the quality of our relationship with Jean Matthieu and his team. Opteven has all the resources to continue its development, which prompted us to reinvest as a minority shareholder”.

The transaction has been approved by the ACPR, France’s banking and insurance supervisory authority.