CVC backs Spanish university Universidad Alfonso X

According to press reports, the deal has a value of around €1.1bn, which equates to 14x the company's annual EBITDA.

CVC drew capital from its CVC Capital Partners VII fund, which held a final close in June 2017 on its €15.5bn hard-cap. The vehicle deploys equity tickets of €100m-1bn, with a sweet spot of €300-500m, in companies with enterprise values of €500m-5bn.

According to a statement, UAX will continue to be led by its founder and president, Jesús Núñez, who will retain a stake in the business.

With CVC support, the company plans to expand its educational offering and increase the number of its students, both online and in campus. It also intends to expand in Spain and abroad through additional acquisitions.

Company
Established in 1993 and located in the Villanueva de la Cañada municipality – approximately 30 kilometres north-west of Madrid – UAX is a private university with 8,500 students.

The university has partnerships with private corporations, health centres, educational institutions, public entities, professional associations and foundations to help its students find internships and enter the job market. According to press reports, UAX  generated revenues of €104m, net profit of €45m and EBITDA of €78m in 2018.

People
Universidad Alfonso X El Sabio – Jesús Núñez (founder, president).

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• Topics
• Buyouts
• Southern Europe
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• CVC Capital Partners
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