EMLYON
Acquired by
GALILEO GLOBAL EDUCATION
EMLYON acquired by GALILEO GLOBAL EDUCATION
Target
EMLYON
Acquirer
GALILEO GLOBAL EDUCATION
Context
Galileo Global Education, alongside Bpifrance and BioMerieux, acquired a 46.5% stake in EMLyon, facilitating the exit of the previous private equity investor, Qualium Investissement. The Lyon Chamber of Commerce (CCI) remains the majority shareholder with 51%. The transaction included a EUR50 million capital increase, bringing the school's total investment capacity to over EUR100 million. The strategic rationale focuses on the "Confluences 2025" plan, emphasizing international recruitment through Galileo's global network, cross-disciplinary "hybridization" with design and engineering schools, and digital transformation. Under the new governance, Guillaume Pepy (former CEO of SNCF) was appointed Chairman of the Supervisory Board, while Isabelle Huault continues as Executive President.
This transaction is part of the Retail & Consumer industry, which currently tracks an average EBITDA multiple of 10.9x since the beginning of 2026, 11.3% decrease compared to 2025. This data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
Founded in 1872, emlyon is one of the top European business schools. Historically owned 100% by the Lyon Metropole CCI, the school transformed into a public limited company (SA) named "Early Makers Group." It operates campuses in Lyon, Saint-Etienne, Casablanca, Shanghai, Paris, and Bhubaneswar, serving over 7,260 students and 6,200 executive education participants.
Ent. Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with EMLYON
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 06/2019 | QUALIUM / BPIFRANCE | EMLYON | FRANCE | Education Providers | Qualium Investissement and Bpifrance entered into exclusive negotiations to acquire a stake in emlyon business school from the Chamber of Commerce and Industry (CCI) of Lyon Metropole. The investors committed to a total capital injection of EUR100 million over five years, with an immediate tranche of EUR40 million. While initially minority shareholders, Qualium and Bpifrance are set to become majority owners as funds are deployed. The CCI retains a blocking minority stake for at least ten years and veto rights on major decisions to guarantee the school's excellence and local anchorage. The deal also opens 10% of the capital to employees and 5% to alumni. The proceeds will finance a new EUR110 million campus project and the school's digital and international expansion. |
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