Abenex invests in Oryx Group

Oryx Group (Proprietes-privees.com) raises €100 million and brings Abenex and Tikehau Capital on board to support its growth and expand its digital service offering

Oryx Group welcomes two shareholders, Abenex, a historical player in the French private equity market and Tikehau Capital, the global alternative asset management group – through one of its funds -, alongside Sparring Capital to enable the group to pursue its growth development plan in France and internationally. Within this new structure, the management team of Oryx Group holds a majority shareholder position and sets new ambitious objectives.

Group Oryx operates a digital platform which efficiently connects supply, demand and talent in the real estate property market. The company is built around a major independent real estate consultant network, proprietes-privees.com and, was reinforced with two complementary networks, immoreseau and Rezoximo, (respectively acquired in 2017 and 2018).

The group is one of the fastest growing players in digital innovation.

Abenex and Tikehau Capital will invest alongside Oryx Group’s management who will retain a majority stake following the completion of the transaction. The investment will support and accelerate Group Oryx’s growth ambitions by upscaling its technological platform that will enable the Group’s consultants to maintain their competitive position in the market. Significant resources will also be deployed to enhance buy & sell capabilities, while developing the reputation of the Group’s brands.

Since Michel Le Bras and Christine Cadrot took over the management of Oryx Group and Proprietes-privees.com in 2016, the turnover has increased tenfold and reached €75 million by the end of 2021, with an average annual growth rate of 35%. Their objective was to become one of the top three real estate agent networks.

In 2021, Oryx Group enabled 1,600 entrepreneurs to move into the real estate business and start their own activity, thanks to the advanced training and professional support they have received. In December 2021, Oryx Group’s flagship brand, Proprietes-privees.com, became the 3rd largest network of real estate agents in France.

This latest development will allow the Group to reach new objectives: to accelerate its development and reach 300 million euros in turnover within 5 years. The Group’s international presence is also part of its mid-term development plan which looks to take advantage of the strong growth of select property markets outside France.

Group Oryx will be the sixth investment of Abenex Midcaps fund in the last 18 months.

Tikehau Capital will invest in Oryx through its Growth Equity fund dedicated to minority investment in high growth companies, generally backing strategies supported by management teams willing to develop long-term partnerships. Sparring Capital remains invested alongside Abenex, Tikehau Capital and Group Oryx’s management.

“We aim to become the leading global player in real estate by offering the most complete range of services on the market: residential transactions, life annuities, new buildings, business premises, but also rental management and financing. More than ever, customer satisfaction will remain at the heart of our strategy. Our acquisition of a majority position in the Group allows us to better control our development. Abenex and Tikehau Capital’s investment gives us the means to accelerate our investments and achieve our objectives. We are delighted with their show of commitment to us”, says Michel Le Bras, Chairman of Oryx Group.

Matthieu Balay and Olivier Moatti at Abenex added: “We are delighted to announce our investment in Group Oryx in partnership with Tikehau Capital. Group Oryx has been generating strong revenue growth, leveraging a unique and digital business model that redefines the real estate agent market. In doing so, and through its various acquisitions, the group has achieved global scale. We look forward to collaborating with the company during its next chapter of development.”

“We are proud to become shareholders in Group Oryx alongside Abenex and support the group in its next phase of growth. Group Oryx is an entrepreneurial and differentiated tech-enabled real estate platform and with this in mind, we intend to draw on Tikehau Capital’s expertise in digital transformation as well as our deep understanding of the real estate markets to assist Michel Le Bras and Christine Cadrot as they seek to accelerate the expansion of their franchise and reinforce their tech platform.” stated Emmanuel Laillier, head of Private Equity of Tikehau Capital.

“We have been happy to support Groupe Oryx and its management team since 2016. The Company continues its exceptional development, and this journey, alongside Michel Le Bras and Christine Cadrot, has also been a great human experience”, states Denis Catz, Partner at Sparring Capital.

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