Interhyp
- Realisation
- Location: Germany
- Sector: Financial Services
- www.interhyp.de
First investment
In July 2000, 3i invested €7.2m to support early-stage growth following the company's formation in 1999.
Nature of business
A provider of mortgage broking services in Germany, Interhyp has redefined this highly fragmented market by combining the benefits of the internet with independent consultancy.
| Results to 31 December | 2006 (audited) €m |
|---|---|
| Sales | 70.6 |
| EBIT | 22.4 |
Developments since 3i invested
Interhyp has developed from a start-up company with less than 20 employees to become the market-leading internet mortgage broker in Germany, with 28,000 mortgage financings arranged with a value of €4.4bn and a staff of 377 in 2006. Strong revenue growth enabled Interhyp to grow EBIT in 2006 by 73% despite a sluggish mortgage market in Germany over the last few years.
After a successful IPO in September 2005, 3i sold its remaining shares in March 2007. In total 3i realised £47.5m from this investment, delivering an IRR of 48% and money multiple of over 9 times.
| 3i Group plc’s return on investment as at 31 March |
2007 £m |
2006 £m |
|---|---|---|
| Cost | ||
| Equity and loan | n/a | 2 |
| Realised value | ||
| Equity and loan | 23 | 24 |
| Unrealised value | ||
| Equity and loan | n/a | 27 |
| Equity interest | 0% | 6% |
| Income in the year | 0 | 0 |