The challenge between Digit’Ed and CVC for training in Italy
The latest operation, just announced, is the acquisition of 24Ore Business School from Digit’Ed. On the other hand, the training market still has ample room for growth. Growth prospects that have transformed the sector into the playing field of a challenge between two competing poles. An all-Italian one, Digit’Ed, controlled by the fund Nextalia of the former Mediobanca Francesco Canzonieri and attended by Intesa Sanpaolo. The other in the hand of English private equity fund CVCthe first to bet significant sums on the growth of this market in Italy.
Industry numbers
Eurostar data shows for example that only the 37% of adult Europeans participate in training courses. Italy (Inapp data) is al 15th place among the countries of the Old Continent, with just 9.9% of the population aged between 25 and 64 participating in training and qualification courses on a constant basis. According to a study by the Milan Polytechnic, the training market can be valid in Italy up to 19.5 billion.
The growth of Digit’Ed
Digit’Ed in just over a year has become one of the two main players. In April of last year you acquired Altaformazione, specialized in e-learning. She then she was the turn of 49% of Treccani Academy from the Treccani Institute. And, last January, of Accurate srl, which is mainly aimed at training in the medical field. Finally, Scuola Greco Pittella has arrived, which operates mainly in training for public competitions such as lawyers, magistrates and notaries.
The affair of Palamon
However, the operation on 24 Ore Business School is by far the most important. The former goose that lays the golden eggs of the publishing group, it was sold in tranches to the private equity fund Palamonwhich entered in 2017 and rose to 100% in 2019. Currently, as specified by the Only 24 Hours, has nothing to do with the publishing group. The amount paid by Digit’Ed has not been disclosed, but press rumors in recent days indicated a value of up to 200 million. If the rumors were confirmed for Palamon it would be a good deal and an excellent release. For the purchase of the various tranches he spent a total just over 63 million euros.
The negotiation with Luiss
It is not clear whether Nextalia has closed the shopping campaign with the operation on 24Ore Bs. The Canzonieri fund negotiated the purchase of a stake for a long time Luiss Executive, spin-off of Luiss. The split in the board with Paula Severinovice president of Luiss, who announced his resignation on 6 July after a long career, including academic career, in the private university.
The bet of the CVC fund
Another pole of training is the one that belongs to Polidori family. Founders of Cepu and of the e-Campus telematic university, in 2020 they acquired the Roman Link University. Digit’Ed’s main competitor is though Multiversitya holding company that belongs to the private equity group Cvc Capital Partners. After acquiring from entrepreneur Daniel Iervolino l’Pegasus Telematic University e Merchants – also in this case in two stages between 2019 and 2021 – the English fund concluded the purchase of the telematic university in 2022 St. Raphael. For Pegasus and Mercaturom there has been talk of a valuation of one billion euros.
Crossing the Sun
Precisely with Multiversity, which has recently signed a agreement with the government for public administration training, the Sole24 Ore group returned to the training business from which it had left with the sale to Palamon. Last October the publishing group signed a partnership agreement for the birth of Sole 24Ore Training.