AnaCap-backed Yard Reaas enters the French market with the acquisition of VSA Property / rebrands as RYZE from 2026
AnaCap, a market-leading private equity investor specialising in partnering with founders and entrepreneurial management teams across services, technology and software within the European financial ecosystem, today announces that its portfolio company Yard Reaas, a leading independent platform providing investment, property management and valuation services for institutional investors and banks, has acquired VSA Property Group (“VSA”), an independent French company specialising in nationwide property management services.
This transaction follows the successful acquisitions of Tecnitalia, Avalon and Aegis in the Italian market and represents the first acquisition outside of Italy for Yard Reaas. It marks the first step in its international expansion following AnaCap’s investment in May 2024 and in line with the strategic plan developed together with the Founding Partners Emanuele Bellani, Paolo Datti, and Paolo Perrella.
Headquartered in Milan and with offices in Rome, Paris and London, Yard Reaas has more than 30 years of experience providing end-to-end investment services and property management solutions to a diversified customer base composed of local and international institutional investors and banks.
Founded in Lyon in 2014, the VSA Group is a leading management business for institutional clients, banks, entrepreneurs, and family offices across the French market. With a turnover of ~€11 million, 80 employees, and approximately 500 managed mandates, VSA operates throughout France with local offices in the Île-de-France region and the South of France.
VSA differentiates itself through its adoption of advanced technological solutions (such as the OCTOPUS platform for process digitisation and artificial intelligence), and its commitment to environmental, social, and governance criteria and Corporate Social Responsibility. Its innovative approach and ability to anticipate market needs aligns with the principles of Yard Reaas and has enabled the VSA Group to successfully position itself among the market leaders, particularly for the management of large projects across various real estate asset classes.
Following this acquisition, Partners Antoine Dehan and Vincent Decamps will remain as a core part of the management team at VSA Group and will lead the company’s continued expansion in France.
With this acquisition, Yard Reaas will have tripled EBITDA in ~18 months and will enter 2026 with a strong pipeline of further acquisitions planned in France and other core European markets.
As of 1st January 2026, Yard Reaas will officially rebrand to RYZE Group (“RYZE”). This new identity reflects a strategic choice that underscores the Group’s commitment to international expansion. It underpins the Group’s increasing focus on key international real estate markets to further expand and provide a seamless service across an international client base.
Emanuele Bellani, CEO at Yard Reaas, commented:
“Entering the French market represents a significant step for our Group. This acquisition enables us to export our business model to France along with our integrated skills matrix, the very same one that has allowed us to become a true benchmark for institutional clients and businesses in Italy. We entered into discussions with the VSA Group because we share the same values, those that have always characterised Yard Reaas. This involves the ability and willingness to work as a team, considering human capital as our strongest strategic lever, the key to our stability and leadership structure. France represents the first step of an international expansion strategy that will allow us to serve our clients across different markets. The change of our name also has strategic significance: with RYZE, we want to establish a more international and contemporary identity, capable of representing an expanding Group with a vision that transcends our national borders.”
Antoine Dehan (CEO) and Vincent Decamps (Chairman) at VSA Property, jointly added:
“Joining the Yard Reaas platform represents an extraordinary opportunity to accelerate our company’s growth. Their integrated and highly client-centric approach perfectly aligns with our culture and the needs of the French market. From the outset, we recognised a perfect alignment of values and vision, and we are confident that we will truly benefit from a strategic vision and an operational model that have already been extensively tested. We are now ready to embark on a new phase of development for our company.”
Alberto Sainaghi, Managing Director at AnaCap, concluded:
“Expanding into the French market represents an important milestone and a significant advancement for the Company’s growth strategy developed with the Management Team, further supported by our network and expertise in driving inorganic strategies. The investment into the VSA Group gives Yard Reaas a strong foothold in a new key jurisdiction as we continue to build scale and capability across Europe. Together, we are well positioned to unlock new opportunities and deliver long-term value across the region and now look forward to the new chapter as RYZE Group in 2026.”
For its investment into VSA Group, Yard Reaas, also supported by Will Woodhead & Associé, was advised by KPMG (tax and financial due diligence), Deloitte (transaction structuring) and Orrick (legal aspects), while VSA Property was advised by Ansermaud & Trojani for legal aspects and by FIREX for financial aspects.
To view the press release in full outlining that the Yard Reaas Group will change its name to RYZE Group (“RYZE”) in 2026, please click here.