EQT sells 13% stake in AcadeMedia

The GP has sold 12,586,941 shares in AcadeMedia to Swedish and international institutional investors.

At the time of publication, AcadeMedia shares were trading at SEK 60 apiece, implying a return of around SEK 750m from the transaction.

Following the sale, the GP now owns 11,511,385 shares, corresponding to approximately 12.1% of the total number of shares in the business.

EQT has agreed to a lock-up period until 26 October 2017 as part of the deal.

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.

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

Four months later, EQT sold a SEK 855m share block, with a price of SEK 57 per share, leaving it with a 25.4% stake. 

Previous funding
EQT acquired AcadeMedia in June 2010, taking a 79.4% stake in the company through a take-private that valued the company at SEK 3.31bn. The GP drew capital from its EQT V fund, with Nordea providing senior debt. 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
• Nordics
• Consumer
• Partial sale
• Sweden
• EQT