Trill Impact to acquire ILT Education
Trill Impact has signed an agreement to acquire ILT Education, an impactful ed-tech company and market leading supplier of digital educational tools, from Priveq.
ILT Education 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 wide service offering, based on a SaaS1 business model, are available in Sweden, Finland, Norway, Germany, Austria and France. As a market leader in Sweden, ILT Education is serving a vast majority of all municipalities and schools.
ILT Education is a highly impactful company addressing general European educational challenges and seeks to provide people equal opportunity to gain knowledge and access to information. The products are designed specifically for both young children and students with learning support needs and range from narrated audio versions of printed schoolbooks to multilingual and interactive digital support functions. The company has had a strong and consistent growth over the years (+17%2 p.a. since 2018) with high level of recurring revenues. Trill Impact sees a clear value creation potential in scaling the impact ILT Education provides and further accelerating product innovation.
“We believe ILT Education has significant potential in continuing to develop from a local market leader to an impactful international platform within digital education tools, aiming to provide equal learning opportunities, in an industry benefitting from rapid structural growth. The company has successfully entered several international markets and we see a great opportunity to expedite that expansion in partnership with the management team” commented Johan Lundén, Investment Director at Trill Impact.
"I look forward to welcoming Trill Impact as the new majority owner of ILT Education 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”, said Jakob Skogholm, CEO of ILT Education.
The parties have agreed not to disclose the financial terms of the transaction.
Media contacts:
Trill Impact: Johan Lundén, Investment Director, Mobile: +46 738019091
ILT Education: Jakob Skogholm, CEO, Mobile: +46 705166004
Trill Impact (www.trillimpact.com) is a private equity firm targeting mid-sized companies in Northern Europe with the potential to accelerate value creation while contributing to the Sustainable Development Goals. Trill Impact aims for a global leadership in Impact Private Equity through its active and proprietary impact investing and ownership approach.
ILT Education (www.inlasningstjanst.se) founded in 1990, ILT Education is the market leading supplier of educational tools for schools and preschools, with a focus on digital audio and visual-assisted learning solutions. The products are designed specifically for children and students with learning support needs and range from narrated audio versions of printed schoolbooks, including training and tests for dyslexic students, to multilingual and interactive digital support functions, including study guides and films for non-native students. In 2013, ILT Education launched its first education app and in 2017 the interactive digital book solution “Polylino”, which supports language development for children, was launched. Polylino is currently used in more than half of Sweden’s preschools.
ILT Education’s SDG3 contribution: ILT Education is a highly impactful company addressing general European educational challenges and seeks to provide equal opportunity for children with learning disabilities, as well as for minorities and immigrants (SDG #10 and SDG #4.5). In most EU countries, PISA scores have been falling, with approximately 20% of EU students underachieving in reading, mathematics and science, further accelerated by the Covid-19 pandemic4 In addition, teachers often lack knowledge, supporting resources and tools to meet the needs of students with reading disabilities or other cognitive needs.
1 Software as a Service
2 Growth in Annual Recurring Revenue (ARR)
3 Sustainable Development Goals: www.un.org/sustainabledevelopment/sustainable-development-goals
4 European Commission: https://ec.europa.eu/education/news/pisa-2018_en
This material has been prepared for informational purposes only. All statements and opinions included herein are subject to change as economic and market conditions dictate. There can be no assurance that any views, outlooks, or forward-looking statements will come to pass.