Cinven, the international private equity group, has reportedly bought out French private higher education provider INSEEC, in a deal that was broken exclusively by EducationInvestor Global.

The details of the transaction, which was reported by AltAssets, have not been publicly disclosed. However, this publication reported in November that the group was likely to achieve a double-digit price-earnings multiple upon selling.

One industry source said last year that the firm logs EBITDA in excess of €60 million and was, consequently, likely to achieve a price-earnings multiple of around 14 upon selling. If this estimation were accurate, the business could have been sold for more than €800 million.

INSEEC, which runs four campuses in France and five overseas in Geneva, Monaco, London, San Francisco and Shanghai, had selected investment bank Rothschild to oversee the sale process.

INSEEC, which was founded in 1975 in Bordeaux, specialises in training executives and business leaders in the areas of wine and spirits, digital, real estate and sport.

The group caters to some 22,000 students worldwide and has more than 370 permanent professors and 150 researchers and teachers.

INSEEC also offers dual degree programmes with affiliated universities across Europe, the US and Asia, in addition to over 300 study abroad arrangements.

Its French campuses are located in Paris, Bordeaux, Lyon and Chambery.

Date published: 5 March 2019

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