Oakley Capital Investments Limited Acquisition of Career Partner Group (5908V)
06 November 2017 - 6:00PM
UK Regulatory
TIDMOCI
RNS Number : 5908V
Oakley Capital Investments Limited
06 November 2017
November 6, 2017
Oakley Capital Investments Limited
Acquisition of Career Partner Group
Oakley Capital Investments Limited(1) (AIM:OCI, the "Company")
is pleased to announce that Oakley Capital Private Equity III(2)
("Fund III") has agreed to aquire Apollo Global Germany GmbH
("Career Partner Group"), from its current shareholder Apollo
Education Group Inc. Fund III, together with a number of underlying
Fund III investors, will hold a 79% stake in the business. Fund III
will be partnering with CEO Dr. Sven Schütt and his management
team, who will be investing in the new structure.
Career Partner Group is a leading provider of private higher
education and personnel development in Germany. Operating
principally under the brand of International University of Applied
Sciences Bad Honnef (IUBH), the business currently has over 13,500
students enrolled in four types of program: traditional on-campus
universities, online university degree courses, dual studies (an
alternative to traditional apprenticeships) and corporate training.
Fund III will seek to support the continued development of the
business particularly in the online university and dual studies
segments, both of which are high-growth sectors in Germany.
The business generated revenues of EUR61.5 million and reported
EBITDA of EUR10.3 million for the year ended 31 August 2017. The
transaction is partly funded by a unitranche debt facility from
BlueBay. Fund III will invest EUR85 million in the business. The
Company's indirect contribution through its interest in Fund III is
GBP30 million (GBP/EUR = 1.13).(3) Completion is subject to
approval by the Federal Cartel Office, and is aniticpated to be on
December 31, 2017.
Sven Schütt, CEO, Career Partner Group commented:
'On behalf of the management team and employees of Career
Partner Group, we look forward to having Oakley as our new partner.
The business has flourished under the ownership of Apollo and we
are very grateful for their support. There are also many exciting
opportunities ahead of us as the market for online education
further develops in Germany.'
Peter Dubens, Managing Partner, Oakley Capital commented:
"We are delighted to be building on our expertise in the sector
with another investment in education. CPG is a dynamic and
high-growth business that has been a leader in the delivery of
online higher education in Germany and is set to continue on that
path with Oakley as a partner."
For further information please contact:
Oakley Capital Investments Limited
+44 20 7766 6900
Peter Dubens, Director
Steven Tredget, Investor Relations
FTI Consulting LLP
+44 20 3727 1000
Edward Bridges / Stephanie Ellis
Liberum Capital Limited (Nominated Adviser & Broker)
+44 20 3100 2000
Steve Pearce / Henry Freeman / Jill Li
(1) About Oakley Capital Investments Limited ("OCI")
Oakley Capital Investments Limited is a Bermudian company listed
on AIM. OCI seeks to provide investors with long term capital
appreciation through its investment in Oakley Capital Private
Equity L.P., Oakley Capital Private Equity II, Oakley Capital
Private Equity III and through co-investment opportunities.
(2) About Oakley Capital Private Equity L.P. ("Fund I"), Oakley
Capital Private Equity II ("Fund II") and Oakley Capital Private
Equity III ("Fund III")
Oakley Capital Private Equity L.P. and its successor funds,
Oakley Capital Private Equity II and Oakley Capital Private Equity
III, are unlisted mid-market private equity funds with the aim of
providing investors with significant long term capital
appreciation. The investment strategy of the funds is to focus on
buy-out opportunities in industries with the potential for growth,
consolidation and performance improvement.
(3) Where OCI represents 40.72% of Fund III's total
commitments.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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