Alantra advises the digital real estate group Oryx on the reorganization of its capital

Jan 2022

Sell-side advisory & Debt financing

Paris – Alantra, the global investment banking and asset management specialist, is pleased to announce that it has advised the digital real estate group Oryx (“the Group”) on the reorganization of its capital. Following the transaction, the Group’s management, led by Michel Le Bras and Christine Cadrot, has become the majority shareholder. Also, the Group welcomes two new shareholders, Abénex and Tikehau. Sparring Capital, the seller who had previously held a majority stake, will remain a shareholder of the Group as part of a reinvestment. The financing was provided by Five Arrows Direct Lending.

Founded in 2006, Oryx is a digital real estate group comprising three distinct and complementary networks of independent agents (Propriétés-Privées, Immoreseau and Rezoximo) also providing brokerage, credit optimization, property valuation and rental management services.

Propriétés-Privées, Oryx’s main network, is the third-largest network of independent consultants in France and stands out for its technological platform and its support for consultants in lead generation.

The Group was taken over by Michel Le Bras and Christine Cadrot in 2016, comprising an MBI sponsored by Sparring Capital. Since then, the Group has recorded strong growth, with turnover rising from €10 million in 2016 to over €100 million expected by 2022.

Alantra had already advised the shareholders of Oryx in 2019 within the framework of a dividend recap financed by Five Arrows Direct Lending, which had allowed the managers of the Group to significantly increase their shareholding.

Franck Noat, Managing Partner at Alantra, commented: “We are proud to support the shareholders of Oryx once again, advising on the reorganization of the Company’s capital structure. This transaction is one more credential of Alantra’s combined M&A and debt advisory capabilities, which leverage deep sector knowledge and local expertise.”