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01/2020

GROUPE EDH acquired by IK PARTNERS

FRANCE Education / Education Providers EV €100–350M

Context

Groupe EDH completed its third LBO (LBO Ter). The existing majority shareholder, Quilvest Private Equity, retained control while welcoming IK Investment Partners as a new minority shareholder. The management team also significantly reinvested. The transaction was highly competitive, attracting a dozen bidders. It is supported by a unitranche debt facility provided by historical lenders CIC Private Debt and Idinvest, with leverage around 5.0x EBITDA. The group aims to continue its aggressive external growth strategy (following the recent acquisitions of Brassart, Aries, and Cesine in Spain) to consolidate the fragmented market.

In the past, the company had already been the subject of several LBOs, notably led by Platina Equity Solutions in 2014 and Quilvest Capital Partners in 2017. These multiple LBO cycles illustrate the strong appeal for this type of asset.

GROUPE EDH, which reported an EBITDA margin of [members only] in 2019, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, representing a premium to the average currently observed in the Retail & Consumer sector (11.9x).

-> Deep-dive in Retail & Consumer market trends

Target

Groupe EDH is a leading French private higher education group specializing in communication (EFAP), cultural management (ICART), journalism (EFJ), and design/digital creation (Brassart/Aries). Under the leadership of Amin Khiari, the group has aggregated multiple schools to form a platform with over 7,000 students across 13 campuses in France and 4 international sites (New York, Shanghai, Algiers, Santander).

Ent. Value

€100–350M

Equity Value

[members only]

Multiples

EV / Revenue

2x–6x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2019
€50–100M
€5–25M
[members only]
2018
€50–100M
€5–25M
[members only]

Other operations with GROUPE EDH

Other operations with GROUPE EDH

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
05/2022FIVE ARROWSGROUPE EDHFRANCEEducation Providers
11/2017QUILVEST CAPITAL PARTNERSGROUPE EDHFRANCEEducation Providers
09/2014PLATINA EQUITY SOLUTIONSGROUPE EDHFRANCEEducation Providers

REFERENCES

Valuation range: EV €100–350M

Revenue range: €50–100M

EBITDA range: €5–25M

EV/Revenue range: 2x - 6x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of GROUPE EDH by IK PARTNERS are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: groupe edh

Acquirer: ik partners