Swiss education business ASC IH completes 4 add-on acquisitions
Geneva, September 12th 2013 – Acquired by Euroknights VI in May 2012, ASC International House (“ASC-IH”) provided language training and private school education in English across several locations in Western Switzerland and France.
The objective of the buy-out was to grow organically (especially the private school) and to make opportunistic acquisitions provided they complemented the core business.
Since then and over the last 5 months, ASC IH has acquired two education businesses complementary to the core business, and two additional private schools:
– Tutorsplus – Provides private tuition, normally at home, and after school support classes throughout Switzerland. www.tutorsplus.com
– Key English School – Provides English classes to Francophone children across the cantons of Geneva and Vaud. www.key-english-school.ch
Both of these businesses complement the existing language and private education businesses of ASC IH and are being integrated into the core business. The acquisitions will provide the infrastructure for both businesses to grow, and allow some synergies and cross selling through the ASC IH group.
– ISM – The International School of Mont-de-Corsier is located in the canton of Vaud, just above Vevey. The school is specialised in Anglophone education and provides primary education for children between 4 and 12. It also offers a crèche and kinder-garden. Hence parents have the possibility to put their children at ISM from crèche up to the last grade of primary. www.ism-school.org
– EPM – The Ecole Riviera School is located in the canton of Vaud, in the centre of Montreux. The school offers bilingual education and provides primary education for kids between 4 and 12. Similar to ISM it provides a crèche and pre-school courses. Unlike ISM, EPM caters predominately to local Swiss children. www.ism-school.org/en-3-ecole-riviera-school.html
ASC IH remains open to explore other opportunities as and when they arise.
“Often buy-and-build strategies are more easily said than done. However, in this case, driven by a motivated management team, four complementary acquisitions have been successfully completed in a short timeframe. ASC IH is now providing a more complete and diversified service responding to an increasing demand” says Guy Semmens, Argos Wityu Partner.
About Argos Wityu
Argos Wityu is an independent European private equity group with offices in Paris, Milan and Geneva.
Since its creation in 1989, Argos Wityu has carried out more than 50 transactions focusing on management buy-outs and buy-ins in small and medium sized companies.
Argos Wityu typically takes majority stakes ranging from €5m to €60m in companies with revenues of €20m to €400m.
With €675m under management for MBO (€400m for the last fund), the firm has developed a track record of unusual, complex and off-market transactions where the firm’s combination of local presence and international experience is able to add value to the small and medium sized businesses it invests in.