EUREKA EDUCATION
Acquired by
NAXICAP PARTNERS
EUREKA EDUCATION acquired by NAXICAP PARTNERS
Target
EUREKA EDUCATION
Acquirer
NAXICAP PARTNERS
Context
Naxicap Partners acquired a majority stake in Eureka Education from Abenex via a preemptive offer. Abenex achieved a rapid exit after a holding period of only two years. The transaction involved a management reorganization: two of the historical co-founders significantly divested. The financing was secured through a unitranche debt facility provided by Barings. The strategy aims to continue the market consolidation (following 20 acquisitions under previous ownership) and accelerate digital transformation.
EUREKA EDUCATION, which reported an EBITDA margin of LOGIN in 2020, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN premium to the 10.9x average currently observed in the Retail & Consumer sector.
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Target
Eureka Education is a major player in private vocational and higher education. Historically built around the "Sylvia Terrade" brand (Hairdressing & Esthetics), the group diversified under Abenex's ownership by acquiring Euridis Business School (Sales/Commerce) and Sup Tertiaire (Real Estate/Social Housing). It welcomes nearly 10,000 students annually across more than 50 campuses in France and Switzerland.
Ent. Value
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Equity 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 EUREKA EDUCATION
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 04/2018 | ABENEX | EUREKA EDUCATION | FRANCE | Education Providers | Abenex acquired a majority stake in Groupe Silvya Terrade (now Eureka Education) from Apax Partners Development. This transaction marks the exit of Apax after a short but intense holding period starting in 2016. The management team reinvested in the operation to pursue growth. The strategy under Apax involved massive consolidation (acquisition of ~30 schools) and digitalization. The roadmap with Abenex aims to expand this build-up strategy internationally and further develop higher education curricula. |
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