Riverside acquires Swedish independent school operator
The Riverside Company has acquired the PPS Group, an independent school operator in Sweden, from its founding management, who will remain owners alongside Riverside for the next phase of PPS’s development.
Founded in 2000, PPS is one of the largest operators of independent schools in Sweden. The company’s core business is upper secondary schools in major cities in Sweden, but PPS also operates schools for children with special needs, as well as compulsory schools and currently has around 3,600 students enrolled.
The Riverside Company, a global private equity firm with USD 3.4 billion in assets under management, focuses on small and medium-sized growing enterprises. The company is an experienced investor in the education and training industry and has invested in over 20 companies in the sector worldwide.
Riverside was advised by Mannheimer Swartling on the acquisition. The firm’s team was led by Biörn Riese, primarily assisted by Elisabet Dahlman Löfgren, Tobias Bergström and Jonas Lagerroos. Thomas Pettersson, primarily assisted by Raoul Mehta and Sara Derakti, advised on financing aspects of the transaction.