The shareholders of a European ed tech have drafted in advisors to find a new investor for the business, which is backed by one of the world’s biggest banks, EducationInvestor Global can reveal.

This publication has learnt that the founders of Woonoz, a France-based online education provider, and its minority shareholders are seeking an exit from the business.

Incorporated in 2005, Woonoz is majority owned by its co-founders, Pascal Hostachy, Francois Paret and Fabrice Cohen, while Evolem Start, a family office, and the development capital arm of banking giant BNP Paribas own minority stakes.

Woonoz’s shareholders have hired Cambon Partners, a French M&A boutique, to find a majority investor for the company, whose annual turnover is around €13 million, with earnings before interest, tax, depreciation and amortisation (EBITDA) of approximately €4 million.

Pricing expectations, at this point, are unclear.

Headquartered in Lyon, Woonoz sells a range of online learning solutions, including trademarked Anchoring Mémoriel – Memory Anchoring – technology designed to improve the memorisation of training content by professionals.

Woonoz is also the publisher of Projet Voltaire, a digital spelling-revision tool launched in 2008 that was the bedrock of the business for nearly a decade.

In 2018, Evolem Start and BNP Paribas Développement reinvested in Woonoz, while Eurekap, a former minority shareholder, cashed out.

Woonoz has showcased robust growth in recent years, having more than doubled its revenue since 2017, when the organisation booked annual sales of around €6 million. The following year, in 2018, it recorded turnover of €10 million, according to Les Echos Capital Finance.

Hostachy, Evolem Start, BNP Paribas and Cambon Partners had not responded to requests for comment at the time of publication.

Date published: 21 April 2021

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