The transaction, which has an enterprise value of SEK650m, has been financed through existing funds and a rights issue of approximately SEK400m.
Located in Sweden, Vindora provides apprentice-based vocational education and is primarily active in the upper secondary segment.
Its education model is based on a close collaboration with small- and medium-sized companies across Sweden, enabling students to build relevant work experience and thereby enhancing their job placement rate.
The business has approximately 6,500 upper secondary school students and around 1,1000 employees.
In 2016 Vindora had pro forma turnover of SEK833m and pro forma Ebitda of approximately SEK100m.
”We are proud of Vindora’s development during FSN Capital’s close to eight-year ownership period,” Marcus Egelstig, principal at FSN Capital, said.
FSN Capital III was advised by Wigge & Partners, KPMG and ABG Sundal Collier.