TIDMOCI
RNS Number : 2360D
Oakley Capital Investments Limited
28 June 2021
28 June 2021
Oakley Capital Investments Limited
Oakley Capital Investments Limited(1) ("OCI") is pleased to
announce that Oakley Capital Private Equity III(2) ("Fund III") has
reached an agreement to sell its stake in ACE Education ("ACE")
(formerly AMOS), a leading private vocational higher education
platform in France and Spain. OCI's share of proceeds will be
approximately c.GBP16 million.
As part of the transaction, Oakley Capital Origin Fund ("Origin
Fund") will invest in ACE alongside Groupe Amaury and ACE's
founder, Patrick Touati. OCI's indirect contribution via the Origin
Fund will be approximately c.GBP10 million.
Note that the above figures only relate to OCI's share of
proceeds and its share of the Origin Fund's overall investment in
ACE.
OCI's liquid resources available for future deployment
(including this transaction) are estimated to be GBP 174
million.
Further details on the transaction can be found in the
announcement below from Oakley Capital (3) .
Oakley agrees sale of ACE Education to Groupe Amaury and
follow-on investment
Oakley Capital is pleased to announce that Oakley Capital
Private Equity III ("Fund III") and other co-investors have reached
an agreement to sell their stakes in ACE Education ("ACE")
(formerly AMOS), a leading private vocational higher education
platform in France and Spain. The exit will generate a gross return
on investment of c.2.1x MM and c. 27 % IRR to Fund III.
As part of the transaction, Oakley Capital Origin Fund ("Origin
Fund") will invest c.EUR40 million alongside Groupe Amaury
("Amaury") and ACE's founder, Patrick Touati, to benefit from the
strong future growth potential, as well as the significant
commercial and strategic benefits Amaury can bring to ACE, given
their prominence in the French sports industry.
Fund III first invested in ACE in 2017 through the platform
acquisition of AMOS, the leading business school in France solely
focused on sports management. Since then, the group has been
transformed via three bolt-on acquisitions and five new campus
openings. Today, ACE is a diversified higher education group with
over 20 campuses and over 4,000 students, and operates under four
brands: AMOS, which remains the leading French business school
focused entirely on sports management; ESBS, a sports management
school based in Valencia, Spain; ESDAC, the largest group of design
schools in South East France; and CMH, a leading higher education
provider in the hotel management, luxury brand and tourism
sectors.
Amaury is the leading designer, producer, and distributor of
mainstream sports content in France. Amaury's investment will
further reinforce AMOS's position as the leading dedicated sports
management business school with all of its stakeholders including
applicants, students, and employers in the sports industry. As
owners, the Origin Fund and Amaury will benefit from strong growth
momentum generated by recently opened campuses, as well as growth
in enrolments which are expected to increase at a 12% CAGR over the
next 5 years. Together, the owners will look to further expand and
diversify the platform through targeted acquisitions.
Peter Dubens, Managing Partner of Oakley Capital, commented:
"We would like to thank the ACE management team for their
continued hard work in developing the business and we look forward
to the partnership with Amaury, who, given their unrivalled
reputation in the French sports industry, will bring valuable
experience and industry knowledge to support the growth of
ACE."
- ends -
For further information please contact:
Oakley Capital Limited
+44 20 7766 6900
Steven Tredget, Investor Relations
Greenbrook Communications Limited
+44 20 7952 2000
Alex Jones / Michael Russell / Catriona Crellin
Liberum Capital Limited (Financial Adviser & Broker)
+44 20 3100 2000
Chris Clarke / Darren Vickers / Owen Matthews
Notes:
LEI Number: 213800KW6MZUK12CQ815
(1) About Oakley Capital Investments Limited ("OCI")
OCI is a Specialist Fund Segment ("SFS") traded investment
vehicle that aims to provide shareholders with consistent long-term
capital growth in excess of the FTSE All-Share Index by providing
liquid access to private equity returns through investment in the
Oakley Funds (2) .
A video introduction to OCI is available at
https://oakleycapitalinvestments.com/videos/
The contents of the OCI website are not incorporated into, and
do not form part of, this announcement.
(2) The Oakley Funds
Oakley Capital Private Equity L.P. and its successor funds,
Oakley Capital Private Equity II, Oakley Capital Private Equity
III, Oakley Capital IV and Oakley Capital Origin Fund are unlisted
lower-mid to mid-market private equity funds that aim to provide
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) Oakley Capital, the Investment Adviser
Founded in 2002, Oakley Capital Limited has demonstrated the
repeated ability to source attractive growth assets at attractive
prices. To do this it relies on its sector and regional expertise,
its ability to tackle transaction complexity and its deal
generating entrepreneur network.
Important information
Specialist Fund Segment securities are not admitted to the
Official List of the Financial Conduct Authority. Therefore, the
Company has not been required to satisfy the eligibility criteria
for admission to listing on the Official List and is not required
to comply with the Financial Conduct Authority's Listing Rules.
The Specialist Fund Segment is intended for institutional,
professional, professionally advised and knowledgeable investors
who understand, or who have been advised of, the potential risk
from investing in companies admitted to the Specialist Fund
Segment.
This announcement may include "forward-looking statements".
These forward-looking statements are statements regarding the
Company's objectives, intentions, beliefs or current expectations
with respect to, amongst other things, the Company's financial
position, business strategy, results of operations, liquidity,
prospects and growth. Forward-looking statements are subject to
risks and uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future. Accordingly
the Company's actual future financial results, operational
performance and achievements may differ materially from those
expressed in, or implied by, the statements. Given these
uncertainties, prospective investors are cautioned not to place any
undue reliance on such forward-looking statements, which speak only
as at the date of this announcement. The Company expressly
disclaims any obligation or undertaking to update or revise any
forward-looking statements contained herein to reflect actual
results or any change in the Company's expectations with regard to
them or any change in events, conditions or circumstances on which
any such statements are based unless required to do so by the
Financial Services and Markets Act 2000, the Listing Rules or
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