Following a substantial capital increase, the Peugeot family has entered into assistance provider International SOS. The Belgian investor Cobepa is co-investing in order not to dilute.
International SOS was founded in the 1980s by the French physician Pascal Rey-Herme and Arnaud Vaissié, who still run the company today. The group specializes in emergency medical assistance for travelers and expats. It also offers other services to companies with employees abroad, such as crisis management, security or evacuation of people from crisis areas. In 2019-2020, the group achieved a turnover of 1.2 billion dollars (994 million euros).
To support its growth, International SOS is refueling USD 306 million (253 million euros). Cobepa, which has been in International SOS since 2007 and owns 14 percent of the shares, is co-investing in order not to dilute and to keep its 14 percent stake. For this it puts between 40 and 50 million dollars (33 to 41 million euros) on the table. The Peugeot family comes on board and acquires a similar interest in return for its investment. The two founders of the Singapore-based group retain the majority. International SOS management is also a shareholder.
Handy services
The transaction follows shortly after two other deals from Cobepa. At the end of November, it sold its stake in Gen II, an American company that provides services to investment funds, with a solid profit. A few weeks later, it became a major minority shareholder in Heartland Home Services, a mid-sized American handyman.
Since it separated from BNP Paribas in 2004, more than half of Cobepa has been in the hands of the AB InBev De Spoelberch family.
Since it separated from BNP Paribas in 2004, more than half of Cobepa has been in the hands of the AB InBev De Spoelberch family. The German pharmaceutical family Boehringer and descendants of the Benjamin de Rothschild banking family also hold shares in Cobepa, as does the British Caledonia Investments.