3i announces sale of Lekolar for £33 million
3i Group plc (“3i”), and funds managed by 3i, today announces that it has signed a preliminary agreement for the sale of Lekolar, the leading supplier of educational and learning material, furniture, toys, stationery, arts & crafts and playground materials to preschools and secondary schools in the Nordics to Nalka Invest AB.
The transaction is subject to the receipt of regulatory approvals as well as the satisfaction of customary closing conditions. Subject to these approvals, proceeds to 3i from today’s transaction will be c. £33m, a 17% increase on its September 2016 sterling valuation. The transaction is expected to complete in March 2017.
3i led the buyout of Lekolar in February 2007, investing in the largest platform in educational and pedagogical products in the Nordics. During 3i’s ownership, Lekolar has significantly strengthened its management team, broadened its offering and expanded its international reach.
Lekolar is the leading supplier of educational and learning material, furniture, toys, stationery, arts & crafts and playground materials to pre-schools and secondary schools in the Nordics. The company is active in Norway, Denmark, Finland and Sweden. Lekolar is headquartered in Osby, Sweden and has a purchasing office in Shanghai. The company employs c.280 people
Source: 3i Press Release