PARIS, April 18th, 2017 – Bryan, Garnier & Co, the leading pan-European investment bank supporting growth companies, advises La Banque Postale on its acquisition of Domiserve, a company specialized in the provision of personal services payment vouchers and the organization of personal services benefits.
Domiserve is a company dedicated to the services to individuals relying on three core activities: teleprocessing, emission of personal services payment vouchers and the organization of personal services benefits. With a total value of €122 million in vouchers provision and distribution in 2016, Domiserve is positioned third in France with nearly 15% share of the market.
Domiserve was initially created in 2005 as a joint-venture between Axa and Dexia. As a result of the decline of Dexia in 2013, the company was sold to its management (50%) and Vivalto, the holding of M. Daniel Caille, who has activities in retirement homes.
As people are living longer and have an ever increasing retirement life ahead of them, La Banque Postale has developed a strategy that allows them to offer services to this market. Their ambition is to assist evolutions in society and in particular, what has become known as the Silver Economy. This continually growing market segment also requires a broader range of payment services, which the acquisition of Domiserve will enable La Banque Postale to provide.
With this new acquisition and owing to its extensive distribution network, La Banque Postale will become one of the leading players in the sector of personal services. Additionally, they will become a vector for job creation, and also foresee development opportunities such as a better coordination between different the clients e.g. corporate accounts and public institutions.
The operation aroused the interest of several candidates including strategic and financial buyers. Within this competitive framework, management preferred to focus on strategic buyers as they were looking to create synergies for Domiserve.
Bertrand Sadorge, Managing Director, La Banque Postale, says, “The work of Bryan, Garnier & Co has been key in enabling us to be selected as the best possible partner”.
Guillaume Nathan, Partner, Bryan, Garnier & Co, adds, “We are delighted to work with La Banque Postale for the second time. This operation is a landmark in the development of their market share and epitomizes our expertise in the field of Business Services”.
Financial advisor: Bryan, Garnier & Co (Guillaume Nathan, Marc-Antoine Serfaty)
Legal advisor: Mayer Brown (Olivier Aubouin, Pierre-Alexis Moreau)
About La Banque Postale
La Banque Postale, a subsidiary of Le Groupe La Poste, is present in the retail banking, insurance and asset management markets. As a civic-minded bank, it supports its customers by offering a sustainable banking relationship with an extensive range of reasonably priced and accessible products and services. As a local bank providing a public service, La Banque Postale meets the needs of all: private individuals, businesses, professionals and the local public sector. It strives to serve its customers through the network of post offices, online and by telephone as part of a fully multi-channel relationship.
Domiserve is a French actor created in 2005 exclusively dedicated to the services to individuals relying on three core activities: teleprocessing, emission of personal services payment vouchers and the organization of personal services benefits. Most of its activities is realized beside public actors (local communities) or institutional (pension funds, insurance companies) and assist them to implement and optimize their services to individuals especially in the field of social action.
About Bryan, Garnier & Co
Bryan, Garnier & Co is a European, full service growth-focused independent investment banking partnership founded in 1996. The firm provides equity research, sales and trading, private and public capital raising as well as M&A services to growth companies and their investors. It focuses on key growth sectors of the economy including Technology, Media, Telecoms, Healthcare, Smart Industries, Specialty Retail and Business Services. Bryan, Garnier & Co is a fully registered broker dealer authorized and regulated by the FCA in Europe and the FINRA in the U.S. Bryan, Garnier & Co is headquartered in London, with additional offices in Paris, Munich, Geneva, New York and New Delhi. The firm is a member of the London Stock Exchange and Euronext.