Sovereign Capital-backed STL, a vocational training provider, has acquired Orient Gold, a national provider of apprenticeship and adult learning. The value of the deal has not been disclosed. The new combined group has over 240 employees and over 3000 people involved in their training programmes. Sovereign first backed STL in November 2006 though a management buyout. Since then STL has been busy implementing Sovereign’s buy & build strategy.
CIC is also fundraising for CIC Mezzanine & Unitranche 5, which launched in September and held a first closing on €150m
Round is one of the largest venture capital deals in Germany this year
Berthoux and Desmottes join as operating partners, while Philips becomes a strategic partner
Vitrulan has acquired the business for its broader product range and to expand internationally