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May 8, 2023

Swedish investment company Formica Capital acquires a majority stake in Swedish Elevera Education Group

Press Release
Formica Capital, the investment company of the Stena family, has acquired a majority stake in Elevera Education Group, a Stockholm-headquartered private education provider. The company was acquired from founder and CEO Erik Bodén for an undisclosed amount. Founded in 2007, the target consists of approximately 50 FTEs and reported revenues of SEK 180.7m with an EBITDA of SEK 78.9m in FY22-06. Clearwater International (Financial) acted as a sell-side advisor in the deal. NKP first reported exclusively on the sale process of Elevera Education Group in November 2022.
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Transaction announcement
Originally surfaced by NKP | M&A Insights as:
March 28, 2023

Update: the sale of Stockholm-headquartered private education provider Elevera Education is in an advanced stage with negotiations ongoing following indicative bids towards the end of last year - initially covered by NKP on 10 November 2022 (NKP Proprietary)

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NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)
November 10, 2022

Stockholm-headquartered private education provider Elevera Education Group is reportedly exploring a majority sale advised by Clearwater International Sweden based on 2022E EBITDA of SEK 75m (NKP Proprietary)

[log in to app.mainsights.io to read the full analysis as it was originally presented]
NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)
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