Wednesday, 9 August 2017

Palamon to acquire Business School24 ...

Acquire, again. Never mind. It was always going to happen. 'They were always going to acquire it, boss?' No, Voice, I mean someone was going to send me a PR email about some firm acquiring something. 'And has Business School24 been acquired yet?' No. They've just, uh ... signed an agreement.

Palamon Capital Partners ("Palamon" or the "Firm"), a pan-European growth investor, announces that it has signed an agreement to acquire Business School24 SpA ("Business School24" or the "Company") the education and services unit of Il Sole 24 Ore S.p.A ("Il Sole"), Italy's leading business newspaper.

Christ! The "Firm" and the "Company". Whatever next?!

Palamon will ("Will") acquire 49% of the Company at an enterprise valuation of €80 million with a call option to acquire an additional 2% in May 2018. The sale agreement has arrangements in place ("Place") for Palamon to acquire additional equity with Il Sole agreeing to retain a minimum 20% strategic stake in the Company going forward.

Oh, I see. It's "Will" and "Place" now. Just at random, like. We must have our little jokes, mustn't we, PR people? 'Why do you tolerate it, boss?' I don't know, man. I suppose I'm a glutton for punishment. / Anyway, what's this Business School24 all about?

Business School24 is a leading player in the tertiary education segment and provides professionally-oriented postgraduate education and training. Established in 1991 as a business unit of Il Sole 24 Ore, the school has two headquarters in Milan and Rome and enrols more than 26,000 students a year onto its courses based both in classrooms and online. The Company differentiates itself by creating targeted courses focused on the real needs of business and employs highly experienced industry professionals to originate content and deliver lessons. Most courses incorporate an internship, which presents a highly successful pathway to employment.

Okay. Fair enough. 'It sounds all right.' Yes. I have to say though, I'm very disappointed that Fabio Massimo Giuseppetti hasn't said anything about all this. You would think he might release a statement. It would be the professional thing to do. However - 'Who the bloody hell is Fabio Massimo Giuseppetti?!?!' Don't you know, Voice? He's a partner at Palamon. 'Oh, Fab! You mean Fab? Our Fab. Of course. Yes, yes, he did say something.' Did he?! 'Look -'

Commenting on the investment, Fabio Massimo Giuseppetti, partner of Palamon Capital Partners, said: "Business School24 is one of the most widely respected education brands in Italy and it is playing a key role in overcoming the structural disconnection between tertiary education and employment, which is severely undermining graduate prospects and damaging the economy. We are therefore delighted to be partnering with the Company to help accelerate growth in the provision of specialized vocational training and a pathway to the labour market for its students. We look forward to working with the talented management team and building out the platform over the years to come."

Where did you find that? 'It's all in the email, boss.' Oh. Nice one. 'I suppose you want to hear what Moscetti, the CEO of Business School24, said as well?' No. Not if he only has one name. 'Ha!' Moscetti! Seriously! The ego of some of these people is unbelievable. He ain't Sting, for crying out loud! He ain't Cher!


Ah, that's enough. Anything else, dear reader(s)? No. I'll see you the week after next week. / Later(s), crocodile(s)!