Wed 11/17/2021 12:23 PM
Share this article:
Relevant Document:
Acquisition of Ducasse

Sponsors and direct lenders are monitoring the sale of Swiss hospitality education group Sommet Education. Rothschild is advising on the sale, which is at an early stage, and the company is being marketed off about €30 million EBITDA, sources told Reorg. To view the relevant documents linked as well as our EMEA Middle Market team's coverage of thousands of other stressed/distressed debt situations including our Sommet Education sale analysis, request a trial here: https://reorg.com/trial

The Swiss education group specializes in hospitality management and the culinary arts. Direct lenders said the education sector is attractive and are angling to replace existing lender Intermediate Capital Group. The incumbent lender is likely to compete to remain in its debt position, sources said.

Recent activity in the education sector in France includes the ongoing sale of French paramedical education group Amphi Holding and the auction of French online platform L’Ecole Française. Online education businesses have attracted high leverage multiples, including French online education group Skill & You, which was acquired by IK Partners and supported by a €150 million unitranche facility provided by Permira and incumbent lender LGT.

Eurazeo Capital acquired Sommet Education in 2016, according to Eurazeo’s portfolio. In 2019, the sponsor acquired a 51% stake in Ducasse Education, according to a statement.

Sommet Education has hospitality management institutions in Glion and Les Roches, with 17 campuses across Switzerland, Spain, France, the U.K., China and South Africa.

Rothschild and ICG declined to comment. Eurazeo did not respond to Reorg’s request for comment.
Share this article:
This article is an example of the content you may receive if you subscribe to a product of Reorg Research, Inc. or one of its affiliates (collectively, “Reorg”). The information contained herein should not be construed as legal, investment, accounting or other professional services advice on any subject. Reorg, its affiliates, officers, directors, partners and employees expressly disclaim all liability in respect to actions taken or not taken based on any or all the contents of this publication. Copyright © 2021 Reorg Research, Inc. All rights reserved.
Thank you for signing up
for Reorg on the Record!