IK Investment Partners has agreed to acquire a controlling stake in France-based vocational e-learning provider Skill & You from Andera Partners.
Skill & You was acquired by Andera Partners in 2018 for around €100 million, a source said, noting that the investment house is set to generate a “very strong return” after Skill & You was valued at more than €300 million.
IK Investment Partners fended off competition in the final round from US buyout group Providence Equity Partners, this publication understands.
Skill & You reportedly generated nearly €115 million in revenue last year after expanding into markets outside France, as the Covid-19 pandemic boosted demand internationally for its online courses.
The investment will be made from IK’s IX Fund, which closed last May at €2.85 billion.
Transaction & Cie, an independent M&A advisor, oversaw the auction of Skill & You.
Date published: 9 February 2021