Skill & You, a French online vocational training company backed by private equity firm Jolt Capital, has acquired Educatel, which provides distance learning courses.
Educatel has a 60-year track record in distance learning and the acquisition will give Skill & You a customer base of more than 100,000 students. It will also enable Skill & You to expand its training courses into specialised fields such as mechanics, personal development, dietetics and animal psychology.
Jolt Capital invested in Skill & You in 2016 as part of a €21m financing package to support the firm’s growth strategy.
Jean Schmitt, Managing Partner of Jolt Capital, said, “Jolt Capital believes that accelerated growth and increased market share also require a targeted acquisition strategy, and the latest deal by Skill & You is a perfect example of this. Over the last four years, Jolt have led or assisted our portfolio companies on more than 20 M&A transactions worldwide, with no failure to date.”
Eric Petco, CEO of Skill & You, added, “Educatel is already providing Skill & You with both a new dimension of learning and dynamism of delivery as we seek to improve our student’s career prospects, instilling them with greater competence and confidence. This is all made possible by the similarity of our target audiences and the complementarity of our offerings, and is thus is likely to significantly boost growth.”