Press release - 22 February 2023
A new deal in the financial services sector for Largillière Finance: the investment bank has advised Paris-based Sol Mondo, an expert in political and financial risks, in its merger with Diot-Siaci, France's leading insurance brokerage and consulting firm.
Founded in 1999 by France Arnaud, Paris-based Sol Mondo has developed recognized expertise in the field of political risks and the issuing of guarantees by and with insurers. Sol Mondo works almost exclusively with key accounts in protected sectors (defense, aerospace, energy, etc.). Insured contracts range from €10 million to over €1 billion.
The Diot-Siaci Group is a multi-specialist insurance and reinsurance brokerage and consulting group. It also has a strong international presence, notably in Europe, Asia, the Middle East and Africa.
Diot-Siaci is the leading broker in France, with sales of almost €730 million by 2021, and is pursuing its growth through an active buy & build strategy. This acquisition will enable Diot-Siaci to strengthen its CPRI (Credit and Political Risk Insurance) business, in which the firm will play a central role. With Sol Mondo and its own staff, Diot-Siaci already boasts a team of around ten people - six of whom are from the acquired firm.
Philippe Puigventos, CEO of Diot-Siaci Crédit and member of the Group's Executive Committee, comments: “The political risk brokerage market is estimated at over €500 million worldwide, and over 50% of this is insured by Lloyd's in London. Today, there is a real stake in the defense of France's foreign trade, notably supported by a parliamentary mission, yet there are very few French players positioned in this type of risk. We want to offer a French alternative to banks, major groups and SMEs to cover their international investments and exports."
Florian Leginy, M&A Vice-President at Largillière Finance, adds: “Sol Mondo is an ultra-specialized broker for complex risks. One of the challenges of the deal was to identify the few French players who could position themselves. We would like to thank France Arnaud for the trust she placed in us, and we are delighted to support her in this transfer to the French and European leader in insurance brokerage."
Stakeholders in the operation:
| Seller: Sol Mondo | France Arnaud |
| Buyer: Diot-Siaci | Philippe Puigventos, Diego Perez |
| Seller Investment Bank / M&A Advisor: Largillière Finance | Nicolas Ibanez, Florian Leginy |
| Seller Corporate Lawyer: Chammas & Marcheteau | Christophe Blondeau, Margaux Deuchler |
| Buyer Corporate Lawyer: Valther | Bruno Fiacre, Meriem Benkacem, Idris Hebbat |
| Buyer Financial Due Diligence: Finexsi | Errick Uzzan, Rayan Guermouche |
With offices in Paris, Lyon, Nantes, Brussels and Geneva, Largillière Finance is an independent investment bank dedicated to assisting managers and shareholders of small and medium-sized companies with their capital transactions: company sales and acquisitions, financing (capital and/or debt), financial engineering (valuation, etc.) and financial strategy.
