mynth
← DATABASE
12/2024Sponsorless

Groupe IEF2I acquired by Andera Partners

FRANCE Education / Education Providers EV €100–350M

Context

IEF2I Education has completed a new buy-out led by its founder in partnership with Andera Acto. The transaction was structured as a sponsorless deal, allowing the founder to significantly strengthen her majority control. This strategic shift follows a period of political uncertainty in France regarding apprenticeship subsidies, leading the group to favor a flexible equity solution over a full trade sale. Historical minority shareholders MBO+ and Naxicap Partners have partially exited but reinvested to maintain a minority stake. The financing package, totaling approximately 20 million euros, is predominantly composed of non-dilutive mezzanine instruments with a smaller equity component. The deal is further supported by a senior bank debt arranged by Caisse d’Épargne, with a leverage ratio maintained below three times EBITDA. The new capital will be used to fuel the group’s buy-and-build strategy to expand its range of educational programs and geographic footprint.

In the past, Groupe IEF2I was acquired by MBO+ / Alliance Entreprendre in 2021 as part of its expansion strategy.

Groupe IEF2I, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of 15x–25x.

-> Deep-dive in Retail & Consumer market trends

Target

Founded in 1998, IEF2I Education is a leading French vocational training network based in the Île-de-France region. The group operates six campuses through three specialized entities: Institut F2I, Digital School of Paris, and Cogefi. Its business model focuses on delivering professional degree programs ranging from Bachelor's to Master's levels (Bac to Bac+5) in high-demand fields such as digital technology, IT, and business management. Training approximately 4,000 students annually, the group relies heavily on an apprenticeship-led model, providing a bridge between academic learning and corporate workforce needs. Its value proposition is centered on career-oriented education with a strong track record in student employability within the Paris metropolitan area's tech and business ecosystems.

Ent. Value

€100–350M

Equity Value

[members only]

Multiples

EV / Revenue

4x–10x

EV / EBITDA

15x–25x

EV / EBIT

15x–25x

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2024
€10–30M
€5–25M
€5–25M
2023
€10–30M
€5–25M
€5–25M

Other operations with Groupe IEF2I

Other operations with Groupe IEF2I
DateAcquirerTargetCountrySector
07/2021MBO+ / ALLIANCE ENTREPRENDREGROUPE IEF2IFRANCEEducation Providers

Other operations with Andera Partners

Other operations with Andera Partners
DateAcquirerTargetCountrySector
02/2025ANDERA PARTNERSGROUPE CDSFRANCEE-commerce & Marketplaces
01/2025ANDERA PARTNERSAYMINGFRANCEStrategy & Management
07/2024ANDERA PARTNERSTECNIKABELITALYCabling & Connectivity
03/2024ANDERA PARTNERSGROUPE ADFFRANCEMulti-technical Installation
01/2024ANDERA PARTNERSMEOGROUPFRANCEConsulting & Audit
12/2023ANDERA PARTNERSGROUPE IMAGERIE CARDINETFRANCERadiology
07/2022ANDERA PARTNERSGROUPE RESONANCE IMAGERIEFRANCERadiology
03/2022ANDERA PARTNERSGROUPE ERIFRANCEFinishing Works
08/2021ANDERA PARTNERSPATRIMMOFIFRANCEWealth & Asset Management
11/2020LBO FRANCE / ANDERA PARTNERSPRENAX GROUPSWEDENBPO & Outsourcing

Similar deals in Education

Similar deals in Education
DateAcquirerTargetCountrySector
05/2025PEUGEOT INVESTNOVETUDE SANTEFRANCEEducation Providers
05/2025AMUNDI PRIVATE EQUITY / ARKEA CAPITAL / BNP PARIBAS DEVELOPPEMENTEDUSERVICESFRANCEEducation Providers
12/2024CHARTERHOUSEMETRODORASPAINEducation Providers
10/2024WENDELGLOBEDUCATESPAINEducation Providers
10/2024NEUBERGER BERMAN PRIVATE MARKETS / EQT PARTNERS / CPPIB (CANADA PENSION PLAN INVESTMENT BOARD)NORD ANGLIA EDUCATIONUNITED KINGDOMEducation Providers
10/2024CINVENDOMIA GROUPFRANCEEducation
06/2024AD EDUCATIONPOLE LEONARD DE VINCIFRANCEEducation Providers
04/2024EQT PARTNERSUNIVERSIDAD EUROPEASPAINEducation Providers
03/2024MANUTANFINDELUNITED KINGDOMEducational Equipment
11/2022ARKEA CAPITAL / BNP PARIBAS DEVELOPPEMENT / IRD INVESTMEDIASCIENCEFRANCEEducational Equipment

REFERENCES

Valuation range: EV €100–350M

Revenue range: €10–30M

EBITDA range: €5–25M

EV/Revenue range: 4x - 10x

EV/EBITDA range: 15x - 25x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Groupe IEF2I by Andera 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.

FAQ

How was the acquisition of Groupe IEF2I by Andera Partners valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €100–350M band, its EV/EBITDA multiple within the 15x - 25x range, and its EV/revenue multiple within the 4x - 10x range. Exact figures are available to members.

What were Groupe IEF2I’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Groupe IEF2I generated annual revenue estimated in the €10–30M range and EBITDA in the €5–25M bracket (FY 2024). Detailed financial figures are available to members.

What sources support the information on this transaction?

Information on this transaction is supported by three corroborating sources: an official corporate announcement published by the parties, independent reporting from specialized financial publications, as well as a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

What is mynth?

mynth is the first free M&A database dedicated to Small & Mid-Cap transactions. We centralize Enterprise Values, revenue multiples, EBITDA multiples and transaction financials that are typically locked behind five-figure subscriptions on platforms like Capital IQ or Mergermarket. On mynth, searching and browsing deals is completely free. Our mission is simple: make professional-grade valuation intelligence accessible to every M&A advisor, independent consultant, Private Equity professional and student, without the burden of expensive annual licenses.