THE WORLD
Updated Monday, April 8, 2024-14:05
Permira
, the global private equity firm, has agreed to
sell a majority stake
in
European University
to the
EQT Infrastructure fund
, valuing the company at
€2.2 billion.
Both companies reported the operation in separate statements in which they did not indicate the cost, according to the Servimedia agency.
Permira
will retain a significant
minority stake
in European University going forward. The transaction is
subject to regulatory approvals and other customary closing conditions.
Since Permira
funds
partnered with the European University in 2019, the company has
multiplied its revenue and gross operating profit (Ebitda) by 2 and 2.5,
respectively, in addition to tripling its enrollment of new students. For its part,
EQT
commented that it will support the educational center by investing in existing campuses and providing its digital capabilities.
Founded in
1996
, the
European University
is one of the
largest private university networks in Europe
, offering high-quality undergraduate and postgraduate programs (both in single, double and bilingual formats), as well as advanced vocational and technical training programs adapted to the current labor market. Currently, the group has a
network of 54,000 students
, 130,000 alumni and more than 3,400 employees on
12 campuses
, and offers more than 500 degrees and 110 new official value-added programs.
FUTURE EVOLUTION
The private higher education sectors
in Spain and Portugal
are expected to experience
growth in the coming years
thanks to demographic trends and demand from international students from Europe and Latin America.
The partner and head of Permira in Spain,
Pedro López
, highlighted that this transaction "offers Permira another opportunity to return capital significantly to our investors, while we remain with a relevant investment in an exceptional business with a long path of growth." in front".
The head of EQT in Spain,
Asís Echániz
, added that the European University is a "leading higher education group that has a differential brand, a solid network of associations and students, as well as an excellent growth trajectory" and EQT will contribute its experience as an owner of essential infrastructure assets.
The CEO of the European University,
Otilia de la Fuente
, commented that with Permira, the center has achieved "remarkable success" and welcomed EQT in order to "continue our path of innovation and growth."