Isatis backs Parnasse Education MBO

France-based Cartesia Education, a group specialised in preparation courses for higher education admission tests and tutoring, has sold its subsidiaries Admissions Paralleles and Les Cours du Parnasse, which have now merged to form Parnasse Education.

Les Cours du Parnasse's director, Mathilde Andrade, as well as Cartesia Education's founders, Aimery de Vaujuas and Benjamin Charignon, have retained a minority stake in Parnasse Education.

The transaction was supported by senior debt provided by Banque Populaire Rives de Paris and Crédit du Nord, according to a statement by Isatis.

Company
Admissions Paralleles and Les Cours du Parnasse, both founded in 2009, are Paris-based training centres that prepare students for admission tests to prestigious universities in France. The universities include HEC Paris, ESSEC Business School, ESCP Europe, EM Lyon and Sciences Po. French daily Capital Finance reported that the two companies, once combined, will generate a turnover of €10m.

People
Les Cours du Parnasse – Mathilde Andrade (director).
Cartesia Education – Aimery De Vaujuas, Benjamin Charignon (founders).
Isatis Capital – François-Xavier Lehman (investment director).

Advisers
Company – Chammas & Marcheteau (legal); Next! Financial Advisors (M&A).
Equity – Lamartine Conseil (legal); Advance Capital (M&A).

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• Topics
• Buyouts
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• France
• Isatis Capital