IK takes minority stake in EDH

Katharine Hidalgo
23 January 2020

Tweet
Facebook
LinkedIn
Google plus
Send to

IK Investment Partners had acquired a minority stake in private higher education group Groupe EDH.

IK is currently investing from its eight-generation vehicle, which closed on €1.85bn in 2016. The firm announced the launch of IK Minority Partnership I in November 2018, though the fund has yet to hold a first close.

Existing investors Quilvest Capital Partners and the company's chairman, Amin Khiari, have retained stakes in the group.

Since Quilvest's initial investment in 2017, the company has acquired the Brassart and Aries schools, and the Santander-based communication and design university Cesine.

IK's investment will be used to finance existing schools' maintenance and expansion, as well as for the acquisition and integration of new campuses in France and abroad.

Previous funding
Platina bought 80% of EDH in 2014, while Amin Khiari acquired a minority stake for the first time. Platina used its Platina Equity Solutions fund, which does not follow a closed-ended structure. Mezzanine debt for the investment was provided by Idinvest.

In 2017, Quilvest acquired a majority stake in EDH from former backer Platina Partners, while CEO Amin Khiari retained a stake in the business. A unitranche package was used for the transaction, with debt provided by CM-CIC Private Debt and Idinvest. A unitranche package was used for the transaction, with debt provided by CM-CIC Private Debt and Idinvest.

Company
Founded in 1961 and headquartered in Paris, EDH is a network of higher education schools dedicated to communication, arts management and journalism. The group has almost 7,000 students and operates five schools and 20 campuses.

People
IK Investment Partners – Thomas Grob (partner).
Quilvest Capital Partners – Thomas Vatier (partner).
Groupe EDH – Amin Khiari (chairman).

Advisers
Equity – Goodwin (legal); PMSI (corporate finance); Eight Advisory (corporate finance); PwC Société d'Avocats (legal, tax).
Vendor – Eurvad Finance (corporate finance); Mayer Brown (legal); Finaxeed (debt advisory); Delsol (legal, tax).
Management – Gomel Avocats (legal); Ayache Salama (tax).
Debt – Allen & Overy (legal).