SeLoger.com
- Realisation
- Location: France
- Sector: Other Services
- www.seloger.com
First investment
3i invested £41m in November 2005 to support the rapid expansion of the company both organically and through acquisition.
Nature of business
France's leading classified advertisements website operator for the real estate sector.
| Results to 31 December | 2006 (audited) €m |
|---|---|
| Sales | 37.8 |
| EBITDA | 17.0 |
| Net assets | 130.5 |
Developments since 3i invested
SeLoger.com's market position was strengthened through the acquisitions of Dataleads and Pericles. This, combined with organic growth, enabled the company to successfully IPO on the Paris stock market in December 2006. 3i realised £76m on flotation and then sold its remaining shares for £22m in March 2007. The combined proceeds of £98m represented a cash multiple of 2.5 times 3i's initial investment and an IRR of 135%.
Employment in the company grew from 120 at the end of 2005 to 185 at the time of the IPO.
| 3i Group plc’s return on investment as at 31 March |
2007 £m |
2006 £m |
|---|---|---|
| Cost | ||
| Equity and loan | n/a | 41 |
| Realised value | ||
| Equity and loan | 98 | n/a |
| Unrealised value | ||
| Equity and loan | n/a | 41 |
| Equity interest | 0% | 33% |
| Income in the year | 0 | 0 |