Eurazeo revenues up 59% on last year

The group’s chief executive Patrick Sayer has said it will grow its unlisted co-investment fund to between €2 billion and €3 billion emulating FTSE 100-listed rival 3i.

Listed French investment firm Eurazeo’s reported revenues in 2007 were up by 58.5 percent on the previous year to €2.99 billion ($4.43 billion), according to its annual results.

Pro forma revenues were €2.34 billion. Reported revenues in the fourth quarter increased to €944.5 million from €831.5 million in the previous quarter while pro forma revenues rose from €608.4 million to €758.6 million.

The group’s net income is estimated at between €860 million to €890 million.

Eurazeo’s share price rose 5.07 percent to €75.18 per share at 1208.

The group’s chief executive Patrik Sayer has said he will look to raise an unlisted fund, growing its €500 million fund which closed in April last year to between €2 billion and €3 billion, according to the firm's spokeswoman. The fundraising drive would emulate listed rival 3i and would help reduce the group’s discount to net asset value, he told the paper.

Last year the company bought parking business APCOA for €885 million and it partnered with PAI Partners to buy clothing hire company Elis for €2.28 billion.

Car rental business Europcar’s revenues were up 30.9 percent to €1.93 billion after the firm bolted on two companies Vanguard EMEA – renamed PremierFirst – and Betacar.

Turnover at French hotel chain B&B Hotels was up 64.5 percent to €150.3 million following the acquisition of Villages Hotels for the company.

APCOA revenues increased 22.9 percent on last year to €413.4 million following the bolt-ons of CPS, WISAG and RPS.

ELIS revenues rose 7.1 percent to €251.5 million to 2007 Eurazeo revenues.

Real estate investment company ANF’s recorded revenues were up 23.9 percent to €30.2 million.

The group valued its portfolio of private equity companies at €1.94 billion. Its listed private equity arm also owns €734 million worth of assets including a 21.4 percent stake in global electrical business Rexel, worth €686 million. Rexel is presently attempting to acquire rival Hagemeyer for €3.1 billion.