MEDIASCHOOL acquired by FLORAC

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.

Antin Infrastructure Partners entered the capital of Babilou Family through a purchase of shares from existing shareholders, becoming the new reference shareholder without triggering a capital increase or a full exit by any of the current investors. The Carle brothers, Raise, and TA Associates all retained their stakes. The founding brothers continue to co-chair the board and manage the company. The transaction is structured as a leadership transfer at the shareholder level, with Antin taking the position of largest shareholder from the Carle family while the latter remains actively involved in the business.

Tethys Invest and CPPIB acquired joint control of Galileo Global Education from the US fund Providence Equity. Tethys, already a minority shareholder, increased its stake from 25% to approximately 37%, reaching parity with new entrant CPPIB (~37%). Montagu Private Equity joined the consortium with a ~17% stake, while Bpifrance retained a minority position (<10%). The transaction followed a competitive process involving major global PE firms (KKR, BlackRock) but was ultimately awarded to this consortium of long-term investors, aligning with management's vision for sustainable growth.

Azulis Capital, accompanied by regional investor Aquiti Gestion, replaced Naxicap Partners in the capital of Talis Business School via a secondary Owner Buy-Out (OBO). Naxicap exited after a ten-year holding period. The founder, Serge Marcillaud, retains the majority stake and his position as President. The operation also allowed key managers, including the new CEO Yves Hinnekint (formerly at Opcalia), to enter or strengthen their position in the capital. The transaction structure includes both equity and senior debt. The strategy aims to capitalize on the favorable regulatory framework for apprenticeships (Law for the Freedom to Choose One's Professional Future) to reach EUR25 million in revenue within four years.

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.

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.

Cinven acquired Inseec U. from Apax Partners following a highly competitive auction process managed by Rothschild & Cie. This Secondary LBO concludes a six-year holding period for Apax Partners, who had originally carved out the asset from the American group CEC in 2013. Under Apax's ownership, the group transformed significantly through acquisitions (CREA Geneve, 5 schools from Laureate France) and international expansion (San Francisco, Shanghai). Cinven aims to continue this consolidation strategy and further diversify the educational offerings.

Parquest Capital and Amundi Private Equity acquired minority stakes in Eduservices, allowing the exit of Capzanine (now Capza) from the equity structure. The founder retained a majority stake, continuing the governance model established in previous rounds (where he increased ownership from 40% to ~52%). The deal was competitive, with Montefiore among the interested bidders. Although Capzanine divested its equity, it remained involved by providing financing for the transaction.

Ardian acquired a majority stake in Study Group from Providence Equity Partners using capital from its EUR4.5bn LBO Fund VI. The investment rationale is based on the strength of the company's long-term university network and the increasing demand for global student mobility. Ardian intends to support management in an aggressive build-up strategy to expand Study Group's global footprint and service offering.

Six months after its own LBO with Andera Partners, Skill & You acquired a 75% stake in Ilerna Online. The remaining 25% is retained by the management and the historical physical entity (Ilerna). The acquisition is financed through an extension of the existing unitranche facility provided by LGT European Capital. This build-up enables Skill & You to expand into Spain, Italy, and potentially Latin America, and to leverage Ilerna's regulatory ability to grant official diplomas online.