AcadeMedia AB (publ) is growing in Germany, acquires preschool company Stepke
Through the acquisition of the preschool company Step Kids Education GmbH (Stepke) AcadeMedia adds seven preschools and three mobile preschools to its German operations. Post the acquisition, AcadeMedia’s German operations comprise 17 preschools of which 3 mobile preschools. Almost 1,100 children attend the 17 preschools. Stepke also brings a secured pipeline of eight new preschools to be started over the coming 18 months.
- It is exciting to take this next step in the development of AcadeMedia in Germany. In Stepke we see another high quality preschool company to learn from and to develop together with our colleagues in the existing German operations, says Marcus Strömberg, CEO AcadeMedia.
- AcadeMedia is a good platform for Stepke’s continued development. By joining forces with AcadeMedia, we will be supported by northern Europe's largest education provider and all the experience and resources available within the company, says Kurt Berlin founder and managing director of Stepke.
Johannes Nagel, also founder and managing director fills in:
- We are convinced that this will benefit our children, their parents, our employees and the municipalities we work in.
Stepke was founded in 2011 and is currently operating seven preschools and three mobile preschools in the regions Brandenburg and Nordrhein-Westfalen, with 640 children and 200 employees. Stepke is in a very expansive phase, with two new preschools established during 2016 and a secured pipeline of an additional eight preschools to be started over the next 18 months. Stepke’s sales during 2016 amounted to 6.6 million euros, while the operating profit was held back by the new starts during the year and was only slightly positive.
The transaction will take place today April 18, 2017 but with financial effect from April 1, 2017. The purchase price for the shares in Stepke is set to 8.15 million euros, of which 3.0 million euros is paid in AcadeMedia shares. In addition, an earn-out of up to 4.0 million euros may be paid depending on the financial outcome for the calendar years 2018 and 2019. The valuation reflects both the value of the preschools that are already operated by Stepke, but also the large number of secured new starts that the acquisition adds.
For more information, please contact:
Marcus Strömberg, CEO
Telephone: +46 8 794 4200
Eola Änggård Runsten, CFO
Telephone:+46 8 794 4240
Christian Hall, Investor Relations
Telephone: +46 763 111 242
AcadeMedia creates opportunities for people to develop. Our 12,500 employees at 550 preschools, compulsory schools, upper secondary schools and adult education centres share a common focus on quality and development. Our 140,000 children and students are provided with a high quality education, giving them the best conditions to attain both their learning objectives and their full potential as individuals. AcadeMedia is Northern Europe´s largest education company, with locations/facilities/presence in Sweden, Norway and Germany. Our size gives us the capacity to be a robust, long term partner to the communities we serve. More information about AcadeMedia is available on www.academedia.se
This information is information that AcadeMedia AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 17:30 CET on 18 April 2017