BALTIMORE and GELSENKIRCHEN, Germany, Sept. 10 // -- Educate, Inc. announced that it has reached agreement on the sale of the Schulerhilfe business to Paragon Partners. Terms of the sale were not disclosed.
Educate, Inc. will focus its efforts on supporting Sylvan Learning Center franchisees and growing the services provided to families seeking educational support so their children can achieve their highest level of educational excellence.
Schulerhilfe will continue to be headquartered in Gelsenkirchen, Germany and its management team, led by Norbert Milte, will remain the same.
About Educate Inc.
Educate, Inc. is a leading pre-K-12 education company delivering supplemental education services and products to students and their families. Educate's subsidiary, Sylvan Learning, is North America's best-known and most trusted tutoring brand. In its 30-year history, Educate has provided trusted, personalized instruction to millions of students, improving their academic achievement and helping them experience the joy of learning. More information on Educate can be found at www.educate-inc.com.
Schulerhilfe is the leading provider of private tutoring services to the German and Austrian primary and secondary education markets. Schulerhilfe has developed an unmatched market position via a network of more than 1,100 centers across more than 880 locations, providing blanket coverage of Germany and Austria. Schulerhilfe tutors over 70,000 pupils per year in a wide range of subjects and at all educational levels. With class sizes of typically only 4 pupils and using either school-provided or Schulerhilfe branded textbooks, Schulerhilfe offers affordable and enjoyable tutelage that results in long term, repeat admission.
About Paragon Partners
Paragon Partners GmbH is an independent Private Equity company based in Munich, Germany that was founded in 2004. The Paragon team manages funds in excess of euro 300 million. The investors of Paragon are reputable institutional and private investors. Paragon invests exclusively in majority positions in well established, successful medium sized businesses in German-speaking countries. Within the last five years, Paragon has successfully completed ten acquisitions. The portfolio companies are developing successfully and are prime examples of Paragon's sustainable growth strategy.