Riverside sells Swedish Education Group for €18m

The GP exits the business nine years after acquiring it via its 2008 fund Riverside Europe Fund IV, when it was known as PPS Group.

AcadeMedia will acquire all shares in RE Skolor, the owner of Swedish Education Group, for a purchase price of SEK 215m (€20.7m), giving the deal a cash and debt-free value of SEK 185m (€17.8m).

The acquisition, financed through existing funds, complements AcadeMedia's existing business and strengthen its position in the growing markets of upper secondary school and adult education. The company aims to improve its EBIT by around SEK 5m (€500,000) during the next year and increase the number of students enrolled at the school.

Company
Founded in 2000, Swedish Education Group is an operator of private schools in Sweden, with more than 4,000 students enrolled. It operates nine schools across Stockholm, Gothenburg and Malmö. The company's core business is upper secondary schools, but also operates schools for children with special needs, as well as compulsory schools.

The company in 2019 had a turnover of approximately SEK 360m and EBITDA of approximately SEK 35m. It has 320 employees.

People
AcadeMedia – Marcus Strömberg (CEO)

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• Topics
• Exits
• Nordics
• Education
• Riverside
• Sweden
• Trade sale