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FSN Capital III acquires leading provider of education and care services

FSN Capital III has entered into an agreement to acquire the Baggium Group, a leading Swedish provider of education and care services.

Established in 1999, the Baggium Group is a leading operator of privately managed public schools in Sweden. The company is the pioneer and market leader within the “blue collar trainee” upper secondary schools segment (e.g. education relating to professions such as plumbers, nursing assistants and chefs). Today, the company has 41 schools and approximately 4 700 students. Also, the Baggium Group has a number of childcare centers focused on immigrant children with social and psychological problems. In 2008, the company had total revenues of SEK438 m.

’We see attractive opportunities for continued expansion, both in Sweden and internationally, through organic growth and potentially also through acquisitions’ says Peter Möller, partner at FSN Capital.

“We look forward to welcoming FSN Capital as a partner that is well-suited to support the Baggium Group in its future development, both in Sweden and abroad” say Ole Salsten and Jonny Nordqvist, founders of the Baggium Group.

Following the acquisition, FSN Capital III will own 70% and Ole Salsten and Jonny Nordqvist 30% of the Baggium Group.

The investment in the Baggium Group will be the sixth investment in FSN Capital III. In previous funds, FSN Capital has made ten platform investments in the Nordic countries and twenty-four add-on acquisitions around the world.

FSN Capital has been advised by: KPMG (financial, tax), Arthur D. Little (commercial) and Advokatfirman Vinge KB (legal). Debt is provided by Nordea.