Paris, 28 October 2013 - The funds managed by Apax Partners France today announced the signing of a definitive agreement to acquire the INSEEC Group, one of the leading players in the private higher education sector in France. The closing of the transaction, which is subject to obtaining the approval of anti-trust authorities, is expected before the end of the year for an amount of ¤200 million.
With close to 15,000 students and 40,000 alumni, the INSEEC Group has consistently confirmed its position as a leading player in French private higher education, year after year. The INSEEC Group includes 11 colleges in France (Paris, Bordeaux, Lyon, and Chambéry) and abroad (Monaco, London, Chicago). INSEEC is backed by a network of 200 partner universities. It is a member of the Conférence des Grandes Écoles and of the Chapitre des Ecoles de Management. The INSEEC Group offers students a broad range of opportunities to obtain dual degrees or to participate in international academic exchanges. Studies conducted annually attest to INSEEC Group's remarkable status in terms of the employability of its graduates.
The INSEEC Group has until now been controlled by Career Education Corporation, a U.S. company specializing in higher education.
With the support of the Apax team, the INSEEC Group will pursue the goal of continued growth by expanding its portfolio of programs and increasing the number of campuses and exchanges with international universities.
The INSEEC Group offers specialized education in areas which contribute to France's influence (management, luxury products, oenology, communications, health, tourism and high performance sport). Apax, the Group's management team and all of its employees, share the objective of establishing the INSEEC Group as the undisputed leader in private higher education in each of these areas. The governance, in addition to the human and financial resources which Apax will make available to the Group and its students, should enable it to achieve this objective.
* Through funds managed by Apax Partners MidMarket in France
Altamir is a listed private equity company with approximately ¤500 million in assets under management. The objective of Altamir is to grow its net asset value per share (NAV), and to outperform the most relevant indices (CAC Mid & Small, and LPX Europe).
Altamir invests through the funds managed by Apax Partners France, a leading private equity firm in French-speaking Europe, and through Apax Partners LLP, one of the world's leading private equity investment groups. Both firms target buyout and growth capital investments in which they are majority shareholders or lead investors, and help management teams to implement ambitious value creation plans.
Altamir provides access to a diversified portfolio of fast-growing companies across Apax's sectors of specialization: Technology, Media, Telecom, Retail & Consumer, Healthcare, and Business & Financial Services. The portfolio is also diversified by size and geography: mid-sized companies in French-speaking European countries; and larger companies across Europe, North America and key emerging markets (China, India, Brazil).
Altamir is listed, since its inception in 1995, on the NYSE Euronext Paris exchange, Compartment B, ticker: LTA, ISIN code: FR0000053837. It is listed on the CAC Small, CAC Mid & Small, CAC All-Tradable and LPX Europe indices, among others. The total number of Altamir ordinary shares at 30 June 2013 was 36,512,301. For further information, please visit www.altamir.fr
About Apax Partners MidMarket in France
Apax Partners is a leading private equity firm in the French-speaking market. With more than 40 years of experience, Apax Partners provides long-term equity financing to build and strengthen world-class companies.
Funds managed and advised by Apax Partners exceed ¤2.5 billion. These Funds invest in fast-growing middle-market companies across six sectors of specialisation: Technology, Telecom, Media, Retail & Consumer, Healthcare, Business & Financial Services.
For more information, please visit: www.apax.fr
About the INSEEC Group
For more information, please visit: www.groupeinseec.com
Tel: +33 1 53 65 01 33
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