The EQT Infrastructure fund has reached an agreement with Permira to acquire a majority stake in the European University, as reported by Permira itself. The ex-owner fund will maintain a minority but "significant" stake according to its own note but has not made public the percentage it will retain.
The funds have also not broken down the transaction price. However, according to two sources cited by Reuters, the operation values the European University at more than 2 billion euros.
Founded in 1996, the European University has 3,400 employees. It is made up of a network of 54,000 students spread across 12 campuses, offering more than 500 degrees and 110 new official programs. In recent years, the European University has acquired the Garrigues study center and the IADE design school. It is also the owner of the Real Madrid University School and, internationally, it has expanded to Portugal, Ecuador and Colombia.
The Permira fund acquired the European University in 2019. Since then it has doubled its revenue volume and multiplied its gross operating result (Ebitda) by 2.5. Student enrollment has tripled.
"When Permira supported European University in 2019, it committed to delivering high-quality education as a primary goal and providing new and innovative learning experiences for students. We are delighted that this collaboration has resulted in leading quality metrics, along with a exceptional growth in the business," indicated the partner responsible for Permira in Spain, Pedro López.
The operation is subject to the corresponding approvals and other usual conditions in this type of operation. Its closure is scheduled for the second half of 2024.
For this operation, EQT has had Deutsche Bank (financial) and Allen as advisors
