Raise, IDI buy PE-backed Talis Education

The deal is IDI's sixth investment of 2021, according to a statement.

Trade publication EducationInvestor Global reported in April 2021 that Talis had attracted interest from several sponsors, including IDI and LBO France, and could be valued at more than €120m.

The company has grown organically and through the acquisition of other institutions, Talis said in a statement, adding that it expects to continue to grow thanks to the French state's goal to develop apprenticeships in France.

The deal values Talis at €100m, Capital Finance reported, adding that the two GPs are to invest €50m in equity in the company.

Following a flurry of education sector deals in Q1 2021, Unquote reported on the drivers behind sponsor interest in the sector, which include digitalisation potential and the reliability of long-term demographic trends. At the time, 10 buyout deals totalling more than €700m had been completed in the sector, according to Unquote Data.

Previous funding
In 2010, Naxicap Partners acquired a 40% stake in the company for €3.1m.

Azulis Capital and Aquiti Gestion acquired a stake in Talis in January 2020 in a buyout valued at €23m, which saw founder Serge Marcillaud retain a majority stake. The company generated revenues of €17m in 2018 and employed 140 staff at the time of the buyout. Banque Populaire Grand Ouest, CIC, Banque Populaire Aquitaine Centre Atlantique provided debt to back the deal.

Company
Talis was founded in 1978 and is headquartered in Bergerac. The company has nine campuses in France, including in Paris and Bordeaux, through which it offers professional training courses and apprenticeships to be taken after the French Baccalauréat. Its courses cover areas including business and international management, as well as marketing, communications and HR. The company posted 2020 revenues of more than €25m, according to Capital Finance.

People
Talis Education – Serge Marcillaud (founder).
Raise Investissement – Aglaé TouchardLe Drian, Serge Bedrossian (co-heads).
IDI – Marco de Alfaro (partner); Augustin Harrel-Courtès (investment director).
Azulis Capital – Nicolas Cosson (associate).

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• Topics
• Buyouts
• Exits
• France
• Consumer
• Secondary buyout
• Azulis Capital
• IDI
• Raise Investissement
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