KKR-owned Spanish vocational training company MasterD has acquired a majority stake in the Technical Institute for Professional Studies (ITEP), a Madrid-based family-owned company providing vocational training, offering more than 15 courses taught to 4,000 students, Vozpópuli has reported.
ITEP operates four centres in the Spanish capital offering face-to-face and online training and has more than 80 employees, It specialises in the health sector, which accounts for 69% its courses, with others covering childcare, IT, marketing and digital subjects.
It states that 75% of its students achieve a short-term job, 100% take internships, and more than 90% complete their courses. It adds that ITEP has arrangements with employers to place its students in jobs.
ITEP general director Antonio Sanchez said: “We are proud to have MasterD as a new partner of the company. With a rapidly growing online market, ITEP has positioned itself as a leader in the transition caused by Covid towards mixed teaching.”
MasterD chief executive Antonio Mayoral said his company has a strong presence in the regulated education market in Madrid, adding: “In recent years this market has been disrupted by online offers and the Institute has been able to capture this opportunity, with more than 70% of students online – with this agreement we will be able to accelerate this process.”
Date published: 10 February 2021