PROPRIETES PRIVEES

When Initiative & Finance invested in it, online real estate agency Propriétés Privées had a network of 500 independent representatives throughout France. Networks based on this model have grown substantially since their creation in the 2000s, thanks in no small part to the predominance of the Internet in dealings between clients and agents. Thanks to a complete and high-quality product range, Propriétés Privées enjoyed strong organic growth and was able to carry out its first two add-on acquisitions (Paradissimo and Neodis) with the support of Initiative & Finance. In line with the objective he had set with Initiative & Finance when the operation was performed, the founding CEO decided to withdraw from an operational role within the group, which was taken over in mid-2016 in a BIMBO by Michel Le Bras, a former senior executive in major service corporations, in partnership with an investment fund. Michel Le Bras was able to count on the support of Christine Cadrot, Development Director at Propriétés Privées, recruited one year prior to strengthen the company's management structure.