Auctus exits Career Partner to Apollo Education for €96m

The sale price excludes an agreed contingent cash payment of up to €11m based on Career Partner's calculated operating results for 2016.

Career Partner stated it plans to expand nationally and internationally over the coming years, include new dual-study locations and introduce new study programmes in German and English. Apollo is not planning changes to the management board.

Previous funding
Auctus acquired Career Partner in 2007 and has since applied a buy-and-build strategy for the company.

In May 2008, the company acquired a majority in Steigenberger Akademie for an undisclosed amount. In April 2010, Career Partner acquired a majority stake in the Swiss School of Tourism and Hospitality (SSTH). The company, a European education provider based in Chur, Switzerland, was acquired from Arabella Schweiz and the Schörghuber family. The acquisition, which was backed by the Auctus II fund, opened up the Swiss market for Career Partner.

In September 2010, Career Partner acquired majority stakes in education providers Horst Rückle Team and Proaktiv Management.

Company
Career Partner was founded in June 2007 as an acquisition platform for a buy-and-build strategy in the educational services sector. It encompasses tourism and hotel management university Internationale Fachhochschule Bad Honnef and Bad Reichenhall, the Steigenberger Akademie, the Adam-Ries-Fachhochschule, Horst Rückle Team and Proaktiv Management.

The group is active in post-secondary education and now has 5,000 students and 350 employees. It is headquartered in Munich.

People
Greg Cappelli is CEO of Apollo Education. Sven Schuett is CEO of Career Partner. Ingo Krocke and Florian Buddemeier invested in Career Partner on behalf of Auctus.

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