Private equity firm IK Investment Partners has acquired German tutoring business Studienkreis from investment firm Aurelius for €71.7 million.
Studienkreis was established in 1974 and provides tutoring services for primary and secondary school students in Germany.
It operates a network of over 1,000 learning centres which offer small group tutoring to around 60,000 students in all major subjects as well as special preparatory courses for pre-graduation exams.
The business also has an online app which supports students with their homework and tutoring schedule.
Lorenz Haase, CEO of Studienkreis, said: “Customer satisfaction is truly at the centre of our business strategy. Our qualified and certified tutors assess every student individually; personalised support plans, as well as the documented progress are discussed with parents on a regular basis. It is this proven learning concept Studienkreis has built its reputation on. We now embark on the next phase of our growth trajectory with the support from IK and I’m truly excited for the opportunity to even better service our students.”
Anders Petersson, Partner at IK Investment Partners, added: “Studienkreis has a distinctive successful concept and a proven track record. Together with the highly experienced management team, we are looking forward to supporting the Company’s future success as they continue to grow their network and their tutoring offering.”
IK Investment Partners is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux and since 1989 has invested in over 110 European companies.