Wendel Growth invests in Brigad, an online tool connecting self-employed professionals with hospitality and care establishments
Press release – February 16, 2023
Wendel Growth invests in Brigad, an online tool connecting self-employed professionals with hospitality and care establishments
Wendel (Euronext: MF.FP), through its Wendel Growth1 investment arm, announced today the acquisition of a minority stake in Brigad with an equity investment of €7 million.
Brigad is an online tool connecting self-employed professionals with hospitality and care establishments.
Brigad meets a dual need:
- offering companies operating in tense sectors the support they need by connecting them with a community of around 15,000 skilled professionals and,
- meeting the growing demand for more flexible and diversified work patterns. Indeed, self-employed professionals are free, allowing them to choose their missions and arrange their work, according to their personal schedule and professional objectives.
Founded in 2016, Brigad has been a mission-driven company since 2020. It now operates in the 5 main cities in France (Paris, Lyon, Lille, Bordeaux and Marseille) as well as in London, Manchester and Birmingham. Brigad has 150 employees.
Antoine Izsak, Head of Growth Equity, said:
« We have been very impressed by the level of satisfaction expressed by talents and companies who are using Brigad. We look forward to working with Brigad to expand the company's mission and technical skills of its teams far beyond its current borders, into new geographies and sectors.”
Florent Malbranche, Brigad CEO, stated:
"We are delighted to welcome Wendel into Brigad's capital as it shows its willingness to invest and promote professions. In addition, its financial expertise will be a major asset for Brigad's future growth."
About Wendel Growth:
With Wendel Growth (formerly Wendel Lab), Wendel invests via funds or directly in innovative, high-growth companies. With close to €192 million already committed through the initiative in recent years, Wendel Growth seeks direct investment and coinvestment opportunities in startups. To make these direct investments, like the 2019 investment in AlphaSense and Tadaweb that should be finalized in 2023, Wendel Growth is supported by a team experienced in this asset class, including Antoine Izsak, who joined Wendel early 2022 as Head of Growth Equity. Mr. Izsak was previously Investment Director at Bpifrance. Wendel’s ambition is to invest up to €50 million in scale ups in Europe and North America and will continue to invest in funds.
More information:
1 Formerly Wendel Lab
Agenda
March 17, 2023
2022 Full Year Results—Publication of NAV as of December 31, 2022 (pre-market release)
April 28, 2023
Q1 2023 Trading update—Publication of NAV as of March 31, 2023 (pre-market release)
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