TALIS EDUCATION GROUP acquired by AZULIS CAPITAL
Context
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.
TALIS EDUCATION GROUP, which reported an EBITDA margin of LOGIN in 2018, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Retail & Consumer sector (11.3x).
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Target
Talis Business School is a network of private post-secondary schools specializing in professional training. The group operates campuses in New Aquitaine and Paris, offering courses in commerce, management, marketing, and human resources. Its model is heavily focused on work-study programs ("alternance"), which account for 85% of its students.
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Historical Financials (EUR)
Other operations with TALIS EDUCATION GROUP
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 05/2021 | GROUPE IDI / RAISE | TALIS EDUCATION GROUP | FRANCE | Education | Idi and Raise Impact signed an agreement to acquire a majority stake in Talis Education Group. They injected a combined equity ticket of approximately EUR50 million. This transaction allowed the exit of minority shareholders Azulis Capital and Aquiti Gestion after a holding period of less than 18 months. The founder sold a significant portion of his shares but retained a minority stake, while the management team increased its ownership ("relution"). The deal is supported by senior debt with specific capex lines to fund external growth. The strategic goal is to double the group's size by leveraging the favorable regulatory environment for apprenticeships in France. |
REFERENCES
Valuation range: EV 20M - 50M EUR
Revenue range: 5M - 25M EUR
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Target: talis education group
Acquirer: azulis capital