French open-source software developer Smile will be backed by majority owner Keensight Capital and Edmond de Rothschild Investment Partners (EdRip) in its planned purchase of competitor Open Wide.
German centre-based tutoring provider will operate individually while synergies with new owner are identified
GP in informal discussions around exit or sale of parts of the UK-based company
Sale comes after a five-year holding period under the Amsterdam-headquartered GP’s Fund IV
After fall at the end of its financial year, the GP expects valuation of its investments to recover with double-digit percentage rises in next three years