Apollo Education Group Inc. (Nasdaq: APOL) has acquired German education services provider Career Partner GmbH for up to $117 million in cash. The purchase price consists of a $105 million upfront payment and up to an additional $12 million that is based on the target’s future financial performance.
Career Partner, based in Munich, Germany, provides human resources and higher education services, including corporate training and online courses to more than 5,000 students.
Apollo, located in Phoenix, Arizona, provides education services to working adults. The company owns the University of Phoenix program. “The addition of CPG to Apollo Global provides significant opportunities to share best practices as well as build upon a highly respected brand in German Education,” says Apollo president Curtis Uehlein. The company has been expanding its global presence through acquisitions. For instance, in 2014, Apollo completed its purchase of Brazilian education program provider Sociedade Técnica Educacional da Lapa SA.
In other recent education deals, the Carlyle Group LP (Nasdaq: CG) and Vinci Capital Gestora de Recursos Ltda. are buying Kroton Educacional SA and TPG Capital and Leonard Green & Partners are adding Ellucian Co.
Robert W. Baird & Co. advised Apollo.