Skill and You, a vocational e-learning provider based in France and backed by private equity firm IK Partners, has acquired online professional education platform ICS Learn from Primary Capital Partners.

Based in Glasgow, ICS Learn provides online professional training, accredited by awarding bodies in sectors including human resources, accounting, and leadership and management, delivering its training across business-to-business and business-to-consumer markets.

Following the deal, ICS Learn will maintain its brand and the management team will remain in place.

The deal ends a four-year holding period for London-headquartered private equity firm Primary, which acquired ICS Learn in 2018. Since then, the business has grown internationally by establishing operations in the Middle East. It has also made two acquisitions, both in the HR training sector, DPG in October 2020 and Acacia Learning in January 2021.

IK Partners bought Skill and You from Andera Partners in February 2021. The company generated annual revenue of around €115 million at the time of the acquisition.

Eric Petco and Sonia-Levy Odier, managing directors of Skill and You, commented in a statement: “Acquiring this business is the natural next step for us as it will help us to realise our ambitious growth plans and enable entry into the UK market.”

Houlihan Lokey advised the sellers, while Financière de Courcelles and 8 Advisory advised Skill and You and law firm Cooley advised ICS.

Date published: 21 March 2022

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