IK backs Domia Group in SBO

A unitranche facility for the transaction was provided by Tikehau Investment Management.

Unquote reported in April that IK had agreed to acquire Domia, according to an announcement from the local competition authority.

Following the deal, Domia founders Maxime Aiach, Philippe Coléon and José Dinis will stay on with the company and acquire a minority stake in the business.

The GP deployed capital from its IK Small Cap I Fund, which held a final close on €277m in March 2016, hitting the hard-cap after one year on the road.

The sale ends a five-year holding period for Metric, which bought the company in May 2013 in a turnaround deal in which Metric acquired a 96.1% stake by providing funding of €14.5m.

Company
Founded in 1989, Acadomia provides primary and secondary education, home-based and classroom tutoring, and test preparation services. The business operates a network of 100 agencies, with 20,000 tutors dedicated to help 90,000 students per year.

Shiva specialises in home cleaning, has 165 franchised agencies which employ 8,000 selected maids and serves around 45,000 clients.

People
IK Investment Partners – Pierre Gallix, Arnaud Bosc, Morgane Bouhenic, Caroline Le Hen (partners).
Domia Group – Maxime Aiach (co-founder, president); José Dinis, Philippe Coléon (co-founders).

Advisers
Acquirer – PwC (financial due diligence); Willkie Farr & Gallagher (legal); Vulcain (M&A).
Vendor – PwC (financial due diligence); DLA Piper (legal).

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