Oakley’s Inspired bolts on three schools

As part of the deal, Inspired acquired Milanese schools group ISE from HIG Europe, which acquired a majority stake in the business in November 2014. The acquisition marked the GP's first investment in Italy.

According to press reports, the deal saw HIG fully exit the business by selling its 95% stake, while the founding Formiga family will retain the remaining 5% stake. Financial details surrounding the transaction remain undisclosed.

Oakley holds an indirect interest in Inspired through its shareholdings in Educas, an education- and media-focused investment firm that holds an undisclosed stake in Inspired. According to a statement, the GP has indirectly invested a total of €43m in Inspired.

Following the deal, Inspired comprises a total of 23 schools under management, providing education to 15,000 students across the UK, Italy, Switzerland, Belgium, South Africa, Kenya, Australia and Colombia.

Previous funding
In 2013, Oakley backed the foundation of Educas through both its Oakley Capital Private Equity and Oakley Capital Private Equity II vehicles. Educas first acquired a majority stake in Reddam Schools Holding in July 2013, a group of private schools in South Africa.

Company
ISE was established in 1958 by the Formiga family. The group operates day schools and claims it has 1,800 students aged 3-18 across its facilities in Milan, Modena, Monza and Siena. The business is headquartered in Milan and employs 250 people.

Based in Milan and founded in 1996, St Louis School was founded by Luciana Vescovi and has 1,000 students between two and 18 years old.

St John's International School was established in 1964 and is based in Brussels. The school provides education to 700 students between the ages of three and 18.

People
Oakley Capital – David Brickell (partner); Peter Dubens, David Keech (directors).
HIG Europe – Raffaele Legnani (managing director).
Educas/Inspired – Nadim M Nsouli (founder, chair).
International School of Europe Group – Paolo Formiga, Franco Formiga (founders).
St Louis School – Luciana Vescovi (founder).

Advisers
Vendor (HIG Europe) - Sidley Austin (legal, tax).

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• Topics
• Expansion
• Consumer
• Southern Europe
• Benelux
• Acquisition finance
• Oakley Capital
• HIG Europe