Aust Training Group with EV of $98 Million SOLD
Leading Career Training Group Sold To Next Capital
Australia's leading career training group, Scentia Education, has been sold to Next Capital, an independent Australian private equity firm.
The multi-million-dollar deal, which had an enterprise value of $98 million, was finalised last week. It saw Chairman Arvid Petersen step down after 10 years in the role but remain as a Director and a significant shareholder.
Scentia is the parent company of the Australian Institute of Management (AIM) and the Australasian College of Health and Wellness (ACHW)
Scientia Education was founded in 2015 by the Petersen Group and CHAMP Ventures (CV). In early 2021, Mr Petersen led a management buyout of CV.
The move marks the third successful sale of an education and training business for the Petersen Group.
The most recent notable transaction involved Study Group, which was sold in partnership with CHAMP Private Equity in 2010 to Providence Private Equity for $660 million.
“The Scentia sale reflects the strength of the education and training sector in Australia and the great potential for future growth,” Mr Petersen said.
“Next Capital brings new investment to significantly expand Scientia’s offerings and market reach, ensuring continued innovation and excellence in the sector.”
Mr Petersen said the investment by Next Capital would accelerate the company’s plans to become the pre-eminent privately owned training and higher education business in Australia.
“We will be able to add depth and breadth to our suite of services, position ourselves as the preferred partner for enterprises of all sizes, and expand our higher education business,” he said.
Martin Mercer continues in his role as CEO, and together with the company’s executive team will continue to lead the implementation of its strategic vision.
The composition of the Board will change, with new Directors James Murphy and Bing Jiang from Next Capital joining, as well as Mark Baldassare, the Managing Director of new shareholders The Silverfern Group.
They will work alongside existing Board members, including Mr Petersen, Andrew Mills and Mr Mercer.
