New Deal: Ermitage
Kartesia is pleased to announce its investment into the French private school Ermitage International School of France (“Ermitage”), managed by its senior lending team in Paris. Kartesia has arranged a €20m Senior Secured loan to support Platina Equity Solutions’ buy out of the business.
Founded in 1941 by the Thommeret family and managed since then by family members, Ermitage has successfully established itself as one of the leading Parisian private schools, located in Maisons-Laffitte. The school offers both the French classic education system and the IB Middle Years program to more than 1,300 enrolled students from lower school to high school. The school operates 12 buildings in Maisons-Laffitte of which 10 are owned by the Ermitage.
Charles Dubar, Partner of Platina Equity Solutions, commented: “Education is a strategic sector for Platina, and we believe that l’Ermitage, being the largest international school with a boarding offer in the Paris region, is an ideal platform to grow in a high-demand market”.
Charles-Henri Clappier, Head of KSO France at Kartesia, commented: “We are excited to finance Ermitage in the expansion of its attractive international education program and the growth of the business with the guidance of Platina. The school is particularly well positioned to address the very strong demand for international studies in France.
The investment has been made from Kartesia’s KSO I fund and was led by Damien Scaillierez, Managing Partner; Charles-Henri Clappier, Head of KSO France; and Clemence Girard-Jeannet, Associate.