AcadeMedia is the leading and single largest independent education provider in northern Europe. In 2014/15, approximately 62,000 children and students attended AcadeMedia’s preschools, compulsory schools and upper secondary schools. An additional 80,000 individuals participated in AcadeMedia’s adult education courses. In 2014/15, AcadeMedia had approximately 400 preschools, compulsory schools and upper secondary schools in Sweden and Norway and approximately 150 adult education units in Sweden. In February 2016, AcadeMedia also took a first step in the Company’s expansion outside Scandinavia through the acquisition of Joki, which operates seven preschools with approximately 450 children in the Munich region of Germany. AcadeMedia has operations throughout the education chain, from preschool, compulsory school and upper secondary school to adult education. Many of the education providers included in the Group have been active for decades. Hermods, whose brand today is present within both upper secondary school and adult education, was established in 1898. The AcadeMedia Group was established in 1996. Five years later, the Group’s shares were listed on the Stockholm Stock Exchange main list. AcadeMedia’s shares were listed until 2010, when the Principal owner acquired the majority of the shares. In conjuncture with this, AcadeMedia was delisted.
- As previously announced, the price in the Offering was SEK 40 per share, corresponding to a value of the total number of shares in the Company upon completion of the Offering of SEK 3,764 million
- The Offering consisted of 23,750,000 shares, corresponding to approximately 25 percent of the total number of shares in the Company upon completion of the Offering, of which 8,750,000 were new shares offered by the Company and 15,000,000 were existing shares offered by Marvin Holding Limited (a company owned by EQT V Limited and their co-investors) (“Marvin” or the “Principal owner”) and certain other minority shareholders (together the “Selling Shareholders”)
- In order to cover potential over-allotment in relation to the Offering, the Selling Shareholders have, upon the Managers’ (see definition below) request, undertaken to offer up to 3,562,500 additional existing shares (the “Over-Allotment Option”), corresponding to up to 15 percent of the number of shares in the Offering and approximately 4 percent of the total number of shares in the Company upon completion of the Offering
- Assuming the Over-Allotment Option is exercised in full, the value of the Offering will amount to approximately SEK 1,093 million and correspond to approximately 29 percent of the total number of shares in the Company upon completion of the Offering
- The total number of shares in AcadeMedia upon completion of the Offering will amount to 94,100,000 shares
- Immediately following the completion of the Offering, and assuming that the Over-Allotment Option is exercised in full, AcadeMedia’s largest shareholders will include Marvin (64.52 percent of the total number of shares in the Company upon completion of the Offering), Mellby Gård (9.99 percent), the Second Swedish National Pension fund (1.33 percent), Lannebo Fonder (1.33 percent), ODIN Fonder (1.33 percent) and Swedbank Robur (1.33 percent). Mellby Gård also has an option to, up until the date that is four days after the release of the Company’s quarterly report for the period October to December 2016, acquire an additional 10.02 percent of the total number of shares in the Company from Marvin
- Approximately 35,000 individuals have applied for shares in the offering to the general public in Sweden. All of them have been allocated shares
- Trading in the AcadeMedia share on Nasdaq Stockholm commences today June 15, 2016, with the ticker “ACAD”
Carnegie acted as global co-ordinator and joint bookrunner in the transaction.