Independent private equity firm Aksìa Group has acquired 70 per cent of Alpha Test, a Milan-based professional education company, specialising in books and courses for preparation at university admission test.
Previously owner of a 45 per cent stake since 2013, Alcedo III Fund will exit from the shareholding structure following this transaction.
After the creation of the Covisian group, the third player in the BPO and contact centre industry in Italy, and the acquisition of 100 per cent of Lameplast COC Group, the Italian and European leader in the preparation, filling and packaging of pharmaceuticals, medical devices and cosmetics, Alpha Test is the third investment of the Aksìa Capital IV fund.
With a catalogue that includes more than 600 titles, 100 new editions per year, 5 million copies sold and 40,000 hours of lessons offered in 35 Italian cities to over 80,000 students, today Alpha Test is synonymous of preparation to anyone who needs to pass an academic test, especially at the university level.
Founded in 1987, by Renato and Alberto Sironi brothers and by Massimiliano Bianchini, that together with the key-managers Paolo Colusso and Stefano Bertocchi, retain 30 per cent share of the group and will continue to lead the company, Alpha Test has become one of the largest Italian publishing groups in terms of sales and profitability, experiencing different results compared to the general publishing industry trend, which has been declining for the past few years.
With the Alpha Test sale, which follows the recent sale of the Verona-based company Master Climate Solutions (MCS) to the Danish company Dantherm, the disinvestment of equity investments held by the Alcedo III Fund is complete.
Aksìa replaces Alcedo III Fund with a growth project that aims to support the management in the further development of the business, expanding the range of products on offer and entering adjacent market segments, either directly or through acquisitions.
“We are very proud of this transaction that allows our company to focus on important goals for the future,” says Alberto Sironi, the CEO and founding member of Alpha Test.
“We decided to invest in an undisputed leader in the field of educational and university preparation fields,” says Marco Rayneri, partner of Aksìa Group. “The new strategy will allow the group to strengthen its presence in a market which continues to evolve in terms of technological innovation and that requires increasingly qualified preparation to educate new generations for the challenges of the future job market.”
“The strategy shared, since our entry, with the majority shareholders, has allowed Alpha Test to strengthen its competitive position and to lay the foundations for further growth and diversification within the education market, where Alpha Test is an undisputed leader,” says Sonia Lorenzet, Alcedo SGR partner.
