Ixo buys IFC from Connect

Connect has sold its entire shareholding in IFC to Ixo. Under Ixo's ownership, IFC plans to extend the diplomas it offers. It also hopes to open new centres.

Connect Capital is a fund managed by ACG in partnership with firm Connect Gestion.

ACG Group acquired ACG (then Viveris) in January 2012. Towards the end of last month, the firm (Viveris) changed its name to ACG Management.

In mid-September, ACG Group sold French GP Sigma Gestion back to its four other shareholders, rendering the firm independent once more. At the time, ACG Group said the sale allowed it to focus its efforts on Viveris.

Debt
A debt package has been provided for the deal by SMC Credit du Nord, Societe Generale and Banque Chaix.

Previous funding
Connect acquired IFC in 2011 as part of a management buy-in with new IFC CEO Eric Dupressoire.

Company
Founded in 1990 and headquartered in Avignon, IFC is an operator of private higher education centres in the south-east region of France. It claims to help 1,000 students to graduate every year.

IFC covers 20 national diplomas including technician certificate Brevet de Technicien Supérieur (BTS) and post-baccalaureate (BAC) higher education diplomas.

People
Eric Dupressoire is the CEO of IFC. Ixo partner Nicolas Charleux worked on the deal alongside Connect's Franck Paoli, Rémy Garello and Damien Garau.

Advisers
Equity – BBLM, Fabien de Saint-Seine, Agathe Tartanson (Legal, tax); Grant Thornton, Olivier Mortier (Financial due diligence).
Vendor – Financier de l'Epervier, Martine Depas, Gaspard Biberson (Corporate finance); SCP Poyac, Patrice Poyac (Legal).

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• Topics
• Buyouts
• France
• Consumer
• France
• iXO Private Equity
• Secondary buyout