EQT sells further AcadeMedia share block

EQT, via the Marvin holding, sold 15,000,000 shares in AcadeMedia through an accelerated bookbuilding process to Swedish and international institutional investors, at a price of SEK 57 per share.

Marvin now owns a 25.4% stake in AcadeMedia. Subject to customary exceptions or obtaining consent from Carnegie and SEB (which acted as joint bookrunners on the placement), EQT agreed to a lock-up period until 30 August 2017.

In February, EQT sold a SEK 696m share block in AcadeMedia, with shares priced at SEK 58 apiece. This left Marvin with a 41.6% stake in the Nasdaq Stockholm-listed company.

Previous funding
AcadeMedia was listed by EQT in June 2016, achieving a SEK 3.7bn market cap upon its introduction to Nasdaq Stockholm. Around 29% of the company's shares were placed in free float at the time, at a price of SEK 40 apiece.

EQT had acquired AcadeMedia in June 2010, taking a 79.4% stake in the company through a public-to-private bid that valued the company at SEK 3.31bn. The GP tapped its EQT V fund for equity, with Nordea providing senior debt while MezzVest and Partners Group supported the transaction with mezzanine financing.

Company
Founded in 1996, AcadeMedia is a private education provider operating in northern Europe. It offers schooling from pre-school level through compulsory school and upper secondary, as well as adult education courses. The company operates in Sweden, Norway and Germany. It had revenues of SEK 8.6bn in 2015/16 with EBITDA of SEK 721m.

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• Topics
• Exits
• Consumer
• Nordics
• Partial sale
• EQT