PCS2 provides new financing to I@D30 April 2018
Permira Debt Managers (“PDM”), one of Europe’s leading specialist debt investors, has continued its strategy of partnering with successful, fast-growing businesses across Europe by announcing today that direct lending fund Permira Credit Solutions II (“PCS2”) has arranged a new financing alongside Capzanine and LGT European Capital to refinance I@D’s existing debt. In September 2016, the PDM funds provided the initial financing backing IK and Five Arrows’ acquisition of the group.
Created in 2008 and headquartered in Lieusaint (Ile-de-France), I@D is a digital platform for recruitment, management and support of a network of exclusive independent real estate intermediaries in the residential segment who operate from home and on the field.
Roy Awad, Investment Director at PDM, commented: “We are delighted to continue supporting I@D in its expansion. The Management team has done a fantastic job during the last 2 years in growing the business in France and is now looking to duplicate the model in other countries in Europe. This transaction is consistent with our funds’ strategy of backing premium sponsors such as IK and Five Arrows and financing fast-growing businesses across Europe”