Oakley Capital and other co-investors have signed an agreement to sell their stakes in education platform Ace Education to trade buyer Groupe Amaury.
The exit will generate a gross return on investment of nearly 2.1x money and an IRR of around 27% for Oakley Capital Private Equity III.
As part of the transaction, Oakley, via its OriginFund will reinvest €40m alongside the new owner and the company’s founder, Patrick Touati.
Oakley first invested in Ace in 2017 through its £17m buyout of French sports-management-focused business school Amos. Since then, the GP said, the group “has been transformed via three bolt-on acquisitions and five new campus openings”.
Founded in 2017 and based in Paris, Ace is a higher education provider with 20 campuses and 4,000 students.
The company operates four brands: Amos, a French business school focused entirely on sports management; ESBS, a sports management school based in Valencia, Spain; ESDAC, a group of design schools in south-east France; and CMH, a higher education provider in the hotel management, luxuries and tourism sectors.
Oakley Capital – Peter Dubens (managing partner).