Partnership will help accelerate the
company’s growth strategy in international markets
Eurazeo, a leading global investment company listed in Paris, in
partnership with Primavera Capital Group, a major China-based
investment firm, is pleased to announce it has entered into an
agreement to invest in WorIdStrides, a premier experiential
education provider serving students of all ages.
Headquartered in Charlottesville, Virginia, WorIdStrides
provides experiential learning to over 400,000 students per year
covering academic, professional, performing arts, and athletic
programming. The company partners with more than 7,000 K-12 schools
and 800 universities, including top MBA programs. Since its
founding in 1967, more than seven million students have travelled
with WorIdStrides. For the fiscal year ended June 30, 2017, the
company generated over $580 million in revenue.
“Firmly committed to education for many years, we strongly
believe that experiential learning is a vital part of curriculum
and student development,” said Virginie Morgon, Deputy CEO of
Eurazeo and President and CEO of Eurazeo North America. “We are
impressed by the company’s growth in recent years, along with its
unmatched breadth and depth of educational travel offerings.
Eurazeo has developed a significant international presence, which
will be leveraged to strengthen and accelerate WorIdStrides’
presence in Europe and Asia.”
“For over 50 years, we have been providing students with a world
of travel experiences that immerse them in knowledge, culture, and
inspiration,” said Jim Hall, CEO of WorIdStrides. “As our
world becomes more interconnected, we’re excited to partner with
Eurazeo and Primavera to offer more students experiences with a
journey of possibilities.”
"We see a strong secular trend driving demand for global student
travel into and out of the Greater China region,” said Dr. Fred
Hu, Founder of Primavera Capital Group. “We look forward to
working closely with Eurazeo and Jim Hall and the management team
to accelerate the company’s expansion into international
markets.”
Eurazeo’s majority investment will be accompanied by a minority
investment by Primavera Capital Group. Eurazeo’s total investment
will be in the $500 million range, pending further adjustments
through transaction close which is expected to occur by year end.
Macquarie Capital served as financial advisor to Eurazeo.
About WorIdStrides
WorIdStrides, headquartered in Charlottesville, Va., is the
largest educational student travel company and study abroad
organization in the United States. The company was founded in 1967
to provide middle school travel programs to Washington, D.C., and
has grown to provide educational programs for more than 400,000
students annually from more than 7,000 universities and K12 schools
to over 100 countries around the world. The organization’s full
suite of programs is tuned to learners at stages from elementary
through post-graduate levels, and feature specializations like
performing arts, sports and study abroad.
About Eurazeo
With a diversified portfolio of approximately ~$8 billion in
assets under management, of which $1 billion is from third parties,
Eurazeo is a leading global investment company with offices in
Paris and Luxembourg, New York, Shanghai and Sao Paolo. Its purpose
and mission is to identify, accelerate and enhance the
transformation potential of the companies in which it invests. The
firm covers most private equity segments through its five business
divisions – Eurazeo Capital, Eurazeo Croissance, Eurazeo PME,
Eurazeo Patrimoine and Eurazeo Brands. Its solid institutional and
family shareholder base, robust financial structure free of
structural debt, and flexible investment horizon enable Eurazeo to
support its companies over the long term. As a global long-term
shareholder, the firm offers deep sector expertise, a gateway to
global markets, and a stable foothold for transformational growth
to the companies it supports. Eurazeo is notably a shareholder in
AccorHotels, Asmodee, CIFA, CPK, Desigual, Elis, Europcar, Fintrax,
Grape Hospitality, Iberchem, Les Petits Chaperons Rouges, Moncler,
Neovia, Novacap, Sommet Education, Trader Interactive, and also
SMEs such as Flash Europe, In’Tech Medical and Smile, as well as
start-ups such as Farfetch and Vestiaire Collective.
Eurazeo is listed on Euronext Paris. ISIN: FR0000121121 -
Bloomberg: RF FP - Reuters: EURA.PA
For further information, please visit our website:
www.eurazeo.com.
Follow us on Twitter, Linkedin, and YouTube.
About Primavera Capital
Group
Primavera Capital Group is a China-based investment management
firm. Founded by Dr. Fred Hu, a renowned economist and prominent
investor, and formerly a partner and Chairman of Greater China at
Goldman Sachs Group, the firm's investment team has over 30
outstanding professionals with global M&A and capital market
experience, strong industry expertise, deep local knowledge, and a
unique network of relationships with policy makers, leading CEOs
and influential entrepreneurs. Primavera employs a flexible
investment strategy of control/buy-outs, growth capital and
cross-border transactions. Primavera's investments capitalize on
China's emergence as the world's biggest consumer market. The firm
targets investments in the financial services, consumer, education,
health care, and TMT sectors, where Primavera has significant
expertise and experience. Primavera has built a high-quality
portfolio consisting of leading companies in some of the world's
fastest-growing and most innovative industries.
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version on businesswire.com: http://www.businesswire.com/news/home/20171109006342/en/
For EurazeoJulia Sahin, 212-738-6131Julia.Sahin@edelman.com
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