The private equity owner of a little-known educational conglomerate has hired investment bankers to launch a sale of the company that could net more than €350 million, EducationInvestor Global can reveal.
This publication has learnt that G Square Capital, a healthcare-focused buyout group, has instructed Lazard to steer a sale of Amphi Holding, an organisation encompassing numerous paramedical education brands with a pan-European presence.
Amphi Holding is an inconspicuous business with no website – but its portfolio spans several education companies which collectively generate around €30 million in annual earnings before interest, tax, depreciation and amortisation (EBITDA).
G Square, which invests primarily in European healthcare companies and is headquartered in London, could target an enterprise value upwards of €350 million for Amphi Holding, a source familiar with the company and sector pricing suggested.
Lazard has circulated a teaser for Amphi Holding to a pool of prospective investors, as well as advisors, it is understood – but a full prospectus for the business has not yet been published.
Headquartered in Paris, France, Amphi Holding owns a string of employability-focused providers across Europe, as well as a test-preparation company that caters to aspiring medical students and a for-profit university in Costa Rica.
In 2016, Amphi Holding acquired ISPS – comprising Institut Supérieur d’Optique, a chain of optical schools in France, and Ecole d’Assas, a French higher education institute that trains physiotherapists, chiropodists and occupational therapists – from Montefiore Investment.
Then, Amphi Holding bought Academia Amir – Amir Academy – a test-preparation provider used by medical students in Spain and Italy.
Amphi Holding also owns IFSES, a nursing exam preparation provider in Spain, AIMS Academy, an Italian surgical training provider, and San Judas Tadeo Federated University, a for-profit college in San Jose.
G Square does not list Amphi Holding in its online portfolio.
In 2016, Amphi Holding underwent a refinancing of its capital structure and raised debt facilities to finance further growth, according to a press release published by GCA Altium, which advised on the deal.
G Square and Lazard had not responded to requests for comment at the time of publication.
Date published: 21 April 2021