Exclusive: Education firm Galileo up for sale with $2.7 billion price tag – sources – Reuters
LONDON (Reuters) – The private equity owner of one of Europe’s largest private education groups, Galileo Global Education, has put the business up for the sale in a deal worth about 2.5 billion euros ($2.72 billion), three sources told Reuters.
U.S. buyout fund Providence has hired Goldman Sachs (GS.N) and Rothschild to find a new owner for the Paris-based firm which runs a network of 42 schools in ten countries, the sources said, speaking on condition of anonymity.
An auction process kicked off in early February with Providence targeting a wide range of potential bidders including family offices, sovereign wealth funds and infrastructure investors, they said.
Providence and Rothschild declined to comment while Goldman Sachs was not immediately available.