EQT & Permira Backed Group Buys Italian Education Firm

Europa Education Group, a prominent international education provider backed by infrastructure giant EQT Infrastructure and global investment firm Permira, has finalized the acquisition of Plena Education. This strategic move marks Europa Education Group's significant entry into the Italian market, expanding its footprint beyond Spain, Portugal, and Andorra. The transaction sees the complete transfer of ownership of Plena Education, a leading Italian institution focused on creative arts higher education.

The acquisition represents a successful exit for KYIP Capital, which held a substantial 40.08% stake in Plena Education through its investment vehicle, K-Edu srl. Other key shareholders exiting include PFC spa, a holding company associated with the Marzotto, Notarbartolo di Villarosa, and Desforges families, which owned 23.5%, and Swiss investor Brahma with a 15.24% interest. KYIP Capital was advised on the transaction by UBS as M&A advisor and PedersoliGattai for legal counsel.

Plena Education has demonstrated impressive growth under KYIP Capital's stewardship since its initial investment in 2022. At that time, KYIP injected approximately €7 million into K-Now (later rebranded as Plena Education) to fuel its expansion. This capital supported the acquisition of Saint Louis College of Music and bolstered the existing platform, which then generated around €14 million in revenue. The company has since more than doubled its student base, growing from approximately 2,600 to over 5,300 students. Revenue has surged from €14 million to €32.5 million for the 2025-2026 academic year, supported by a diverse portfolio of nearly 90 academic programs across 14 campuses in six Italian cities.

The integration strategy employed by KYIP Capital involved not only bolt-on acquisitions but also significant operational and digital enhancements. This included centralizing sales and marketing functions, implementing unified CRM and data management systems, and expanding the academic offerings with over 40 new courses. The international student demographic has also seen substantial growth, increasing from roughly 7% to 19% during the investment period, reflecting Plena Education's growing global appeal.

Plena Education's current structure is the result of a buy-and-build strategy that formally coalesced in 2023. This strategy aggregated several specialized institutions in fine arts, design, fashion, music, and linguistic mediation. Prior to this formalization, the group already served approximately 4,200 students and generated €24 million in revenue. Further expansion occurred with the integration of CAST Alimenti, a respected Horeca training school, bringing the total number of aggregated institutions to seven. These include Ferrari Fashion School, RUFA Rome University of Fine Arts, SPD Scuola Politecnica di Design, Saint Louis Music College, UNI CIELS, MADE, and CAST Alimenti.

In June 2025, Plena Education secured €10 million in financing from illimity Bank, Cherry Bank, and the illimity Selective Credit fund, managed by illimity sgr, with Fineurop Soditic acting as debt advisor. These funds were earmarked for optimizing the capital structure and supporting further growth initiatives, including the acquisition of CAST Alimenti. The educational services sector, particularly in specialized creative fields, continues to attract significant private equity interest, driven by demand for skilled professionals and the increasing internationalization of student bodies. This acquisition by Europa Education Group underscores the sector's potential and the strategic value of established, high-quality educational platforms.