Verdane backs e-learning companies Eduhouse and Wistec

The GP acquired a majority stake in Eduhouse from its previous owner Accountor Group, and a majority stake in Wistec from its founders.

The companies' management, which includes Eduhouse co-founders Jukka Vento and Johannes Jokelin, and Wistec CEO Juha Huhtanen, will retain a 20% stake in the combined company. 

The GP deployed equity from its SEK 6bn vehicle Verdane Capital X, which closed in February 2019.The GP also recently used the fund to acquire a minority stake in Finnish surplus grocery retailer Fiksuruoka. 

The merged group said it will aim to take advantage of Verdane’s backing to accelerate its growth beyond Finland. 

Company 
Founded in 2002 and based in Helsinki, Eduhouse provides training content in finance, payroll management and HR. The company has more than 25,000 users in the Nordic region. The company in 2020 had a turnover of €4m. 

Wistec, founded in 2015 and also based in Helsinki, is a B2B provider of online IT courses. Wistec in 2020 generated revenues of €2m. 

People 
Verdane - Iikka Moilanen (principal). 
Eduhouse - Jukka Vento (co-founder); Johannes Jokelin (co-founder).
Wistec - Juha Huhtanen (founder). 

Advisers 
Equity - Avance Attorneys (legal); PWC (commercial, financial, tax due diligence)

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• Topics
• Buyouts
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• Verdane Capital Partners
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