Adenclassifieds IPO successful
Today, Crédit Agricole Private Equity and Banexi Ventures Partners are pleased to announce that Adenclassifieds has been successfully floated on the B segment of Eurolist by Euronext Paris, with an initial market capitalisation of 223 million euros.
Adenclassifieds specialises in online business-to-business advertising in France. It was formed from the July 2006 merger of two other online advertisers, Keljob and Cadre Emploi/Explorimmo, part of the Figaro group.
The two financial investors that took a holding in Keljob when it was founded in July 2000 have helped the company expand for the past six years and more. In particular, they arranged its successful merger with Cadre Emploi/Explorimmo.
Adenclassifieds is now the market leader, with revenues of 33 million euros in 2006.
Michel Dahan, CEO of Banexi Ventures Partners, commented: "The company's outstanding track record during the recent troubles in the Internet sector shows that France has the talents and technologies that are so vital to key players in these new media".
Antoine Colboc, head of venture capital activities at Crédit Agricole Private Equity, added: "Adenclassifieds is a prime example of a start-up which, thanks to the qualities of its staff and the vision of its management, goes on to become a market leader."
Cyril Janin, chairman of Adenclassifieds' executive board, emphasised the key role played by the company's venture capital investors, which provided assistance and support for the IPO project from the outset amid tough market conditions.
About Crédit Agricole Private Equity
Crédit Agricole Private Equity is a regulator-accredited asset management subsidiary of Crédit Agricole S.A., specialised in private equity investment in non-listed companies across a range of industries. A team of forty investors operates in several areas (Later-Stage Financing & LBO, Venture Capital, Secondary Market, Mezzanine, Renewable Energies, PPP Infrastructure, etc.), managing €1.5 billion through venture and innovation funds.
About Banexi Ventures 3
Banexi Ventures 3 is a 150 million euro venture capital fund managed by Banexi Ventures Partners. A pioneer and leading player in the venture capital industry since 1983, Banexi Ventures Partners has invested in more than 220 fast-growing companies in the fields of information technologies, electronics and semiconductors, and life sciences.
Crédit Agricole Private Equity
Martine Sessin-Caracci – Tel. +33 (0)1 43 23 90 88 – email@example.com