June 16, 2021 | Deals

GCA Altium advises Priveq on the sale of ILT to Trill Impact

GCA Altium acted as financial advisor to Sweden-based Priveq, who have sold leading Ed-Tech player ILT Inläsningstjänst (ILT) to Trill Impact, a PE firm targeting mid-sized companies in Northern Europe.

ILT was founded in Stockholm, Sweden in 1990 and offers digital educational tools for schools and preschools, with a focus on audio and visual-assisted learning solutions for children and students with dyslexia, other cognitive needs or multi-lingual backgrounds. Its service offerings are based on a SaaS business model and are available in Sweden, Finland, Norway, Germany, Austria and France. As a market leader in Sweden, ILT serves the vast majority of all municipalities and schools.

During Priveq’s ownership, ILT continued its growth journey in Sweden with existing and new product offerings. Furthermore, ILT has successfully expanded its business outside of Sweden through launches in Finland, Norway, France, Germany and Austria. In total, sales have grown from SEK 76m in 2016 to SEK 142m in 2020.

Trill Impact will now acquire ILT, with the company fitting in well with their aims of accelerating value creation while contributing to the UN’s Sustainable Development Goals. Trill Impact aims for a global leadership in Impact Private Equity through its active and proprietary impact investing and ownership approach, and they see clear value creation potential in scaling the impact ILT provides and further accelerating their product innovation.

Commenting on the transaction, Senai Ayob, Partner and Investment Manager at Priveq, said: “Priveq is very pleased with the development of ILT during its ownership period. The company has worked intensively to drive growth from new products and geographies and we would like to thank all employees, led by CEO Jakob Skogholm, as well as the board members, for their commitment and hard work during this period. We wish the team all the best on the continued growth journey.”

Adding to this, Jakob Skogholm, CEO of ILT, said: “I look forward to welcoming Trill Impact as the new majority owner of ILT where we together can create a true impact leader in Ed-Tech, accelerating our value proposition by measuring learning outcomes of students, increasing customer adoption and strengthening loyalty among our end-users and employees. This, combined with an ambitious growth agenda, makes me very excited about the outlook for the next few years.”

The parties have agreed not to disclose the financial terms of the transaction.

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