Summa Equity has acquired Linfre Education AB from the company’s founder and a handful of private investors.
The founder and CEO Josef Lind will reinvest the majority of his proceeds, and the management team will also invest alongside Summa Equity.
Tommi Unkuri, partner at Summa Equity, says: “We are very excited about concluding Summa Equity’ third investment, and the first one within the investment theme changing demographics. This investment also fits within another of our four themes, tech-enabled business, where education is a core segment. Through Lin Education we will contribute to the digitalisation of the Swedish educational system. In a time when learning is more important than ever, this is a field offering important challenges, but also huge opportunities. Being part of innovative solutions to some of the pressing challenges of our time, is a fundament in Summa Equity’s investment philosophy.”
Lind says: “We are very pleased to have Summa Equity as our new majority owner and partner, as this will help Lin Education take the next steps in our development. We are looking forward to a collaboration whereby we will strengthen our offering, press ahead to lead the development in educational content, and further develop our organisation. In Summa Equity we find a fit not only for our business, but also for our people and stakeholders.”
Lin Education was founded in 2007 by Lind, and today has several hundred thousand digital tools and IT hardware (i.e. computers, laptops, tablets, etc.) in schools and preschools all over Sweden. Lin Education also offers learning, development and digitalisation training for its customers. The company has some 90 employees working out of offices in Gothenburg, Stockholm, Malmö, Karlstad and Umeå. Revenue was SEK569 million in 2016.
Summa Equity will support the continued development of Lin Education and assist the company in further growth through investments to develop existing as well as new products. Lin Education is expected to benefit from the trend towards increasing digitalisation of learning, in schools and in other environments.
