Next Capital is going back to school.
The mid-market private equity firm has inked a deal to acquire a majority stake in career training group Scentia Education at a $98 million enterprise value, ruling off a three-month sale process.
Scentia is better known as the parent company of the Australian Institute of Management (AIM) and the Australasian College of Health and Wellness (ACHW). The pair offer training, courses and qualifications up to MBA level and courses in the health and wellness space, marketing directly to career professionals and corporates looking to upskill their workforce.
The Petersen Group partnered with CHAMP Ventures to get Scentia off the ground in 2015, with the latter tipping north of $10 million in exchange for equity. It has around 150 full-time staff, 200 contract lecturers and facilitators and operates in every state across Australia.
The deal was led by Next Capital partner James Murphy, who will become Scentia’s next chairman as Arvid Petersen steps down after a decade in the role, and partner Bing Jiang. The private equity firm is expected to plough fresh funds into the business and look for investment opportunities…see full article.
