Stockholm-based Trill Impact, a private equity firm targeting mid-sized companies in Northern Europe, is acquiring ed tech company ILT Education from Priveq, which invests in unlisted growth companies.
Founded in 1990, ILT Education is headquartered in Stockholm and offers digital educational tools for schools and pre-schools, with a focus on audio and visual-assisted learning solutions for children and students with dyslexia, other cognitive needs or multilingual backgrounds. Its service offering, based on a software-as-a service business model, is available in Sweden, Finland, Norway, Germany, Austria and France.
The products are designed specifically for young children and students with learning support needs and range from narrated audio versions of printed schoolbooks to multilingual and interactive digital support functions.
Trill Impact’s investment director Johan Lundén said: “We believe ILT Education has significant potential in continuing to develop from a local market leader to an impactful international platform within digital education tools, aiming to provide equal learning opportunities, in an industry benefitting from rapid structural growth. The company has successfully entered several international markets and we see a great opportunity to expedite that expansion in partnership with the management team.”
Jakob Skogholm, chief executive of ILT Education, added: “I look forward to welcoming Trill Impact as the new majority owner of ILT Education where we together can create a true impact leader in ed tech, accelerating our value proposition by measuring learning outcomes of students, increasing customer adoption and strengthening loyalty among our end-users and employees. This, combined with an ambitious growth agenda, makes me very excited about the outlook for the next few years.”
The parties to the acquisition stated they have agreed not to disclose the financial terms of the transaction.
Date published: 1 July 2021