Skill & You acquisition backed by unitranche from LGT and Permira

Andera Partners has announced that it formed an exclusive agreement with IK Investment Partners to sell its majority stake in Skill & You to the IK IX Fund.

Having generated nearly €115 million of sales in 2020, Skill & You is a vocational e-learning provider with 120,000 students and 850 employees.

The acquisition is supported by a unitranche facility from LGT and Permira, sources said.

The company's EBITDA was marketed at roughly €25 million to €30 million, it was reported, and LGT supported Andera's acquisition in 2018 with a unitranche facility sized at roughly €50 million. Other lenders were then circling the asset, including debt funds and banks, but LGT was keen to remain the lender in the company, sources say.

Skill & You comprises 14 "schools" with more than 200 types of apprenticeships and diplomas available through e-learning in the fields of beauty, mechanics, cooking and floral business.