TA Associates, L.P. and Barbara Bergström reorganise their holdings in Internationella Engelska Skolan i Sverige Holdings II AB (publ)

Today, Internationella Engelska Skolan i Sverige Holdings II AB (publ) (“IES”) has been informed by its major shareholders that they will reorganise their joint holdings in IES. The reorganisation is expected to be concluded in the coming days.

As made public in the prospectus in connection with the listing of IES’s shares on Nasdaq Stockholm last year, IES’s major shareholders, Mountainstream Holding II S.à.r.l., advised by TA Associates, L.P., (“TA Associates”) and Barbara Bergström (the “Shareholders”), hold their shares through a joint venture company, Internationella Engelska Skolan i Sverige Holdings I AB (the “HoldCo”). Today, the Shareholders have informed IES that they will reorganise their joint holdings.

The Shareholders have initiated a reorganisation process whereby the HoldCo will be de-merged and its ownership in IES divided between the Shareholders. Accordingly, no shares will be sold or acquired by the Shareholders as a result of the transaction. The reorganisation is expected to be concluded in the coming days. Following the reorganisation, TA Associates will indirectly own approximately 49.89 percent of the shares and votes in IES and Barbara Bergström will indirectly own approximately 19.23 percent of the shares and votes in IES. Members of the current and former management of IES will go from indirect owners to direct owners of approximately 2.13 percent of the shares and votes in IES as a result of the de-merger.

For more information, please contact:

Johan Hähnel, IES’s IR Manager
Tel: +46 (0)70 605 6334
e-mail: johan.hahnel@engelska.se

The information was submitted for publication, through the agency of the above contact, at 8 a.m. CEST on 16 October 2017

About IES

Internationella Engelska Skolan, IES, is one of the leading free school operators in Sweden with some 24,000 students in 34 schools in the academic year 2017/18. IES provides schooling from year 1 of grade schooling up to and including the third year of senior high school. Its main focus is on grades 4 - 9, known internationally as middle school. Within the compulsory school system in Sweden, IES is the leading independent provider with nine of the ten largest independent schools. IES schools’ results in yearly grade nine national tests are consistently well above the average of Sweden’s schools.

Internationella Engelska Skolan was founded in 1993 and is currently in its 24thfinancial year. During all these years, the schools have featured the three central pillars of what we offer students, as set out by the organization’s founder Barbara Bergström:

  • A safe and orderly environment, where teachers can teach and students learn
  • To command the English language – the key to the world
  • Students should face high academic expectations and targets

Up to half of education is conducted in English, by teachers whose native language is English. Over 700 teachers qualified in foreign countries—mainly Canada, the US, the UK and South Africa—teach in IES schools.

The student body has expanded strongly. Revenue received has traced yearly organic growth averaging 19% in the past 10 years. In the most recent financial year 2016-2017 that concluded on 30 June 2017, revenue received was SEK 2,043 m, an increase of some 13% on the previous year. As of 30 June 2017, there were approximately 144,000 applications in the waiting list to secure a place for the current and forthcoming year.

Internationella Engelska Skolan has been listed on Nasdaq Stockholm Mid Cap with the ticker ENG since the end of September 2016. The largest shareholders of IES are TA Associates of the US, which has close affiliations to leading universities and foundations in the US, and IES’s founder Barbara Bergström. Other major shareholders as of the end of April 2017 were Swedbank Robur Funds, investment company Öresund, Norron Asset Management, the Third Swedish National Pension Fund, and AMF Försäkring & Fonder (owned jointly by LO, The Swedish Trade Union Confederation and the Confederation of Swedish Enterprise).



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