August 21, 2015 / 5:46 PM / 4 years ago

Bregal Capital sells French education group Studialis to Providence Equity -source

PARIS, Aug 21 (Reuters) - British investment fund Bregal Capital has agreed to sell French higher-education group Studialis to American private equity firm Providence Equity, a source close to the matter told Reuters on Friday.

Studialis, which owns 23 private teaching institutions in France including the Cours Florent, one of the country’s most prestigious drama schools, was founded in November 2007 and trains around 20,000 students a year.

“Bregal sold Studialis to Providence Equity,” the source said, declining to give financial details on the transaction.

Providence Equity declined to comment, while Bregal Capital and Studialis did not return requests for comment.

According to Challenges magazine, Studialis is valued at 250 million euros ($284.25 million) and the group was also eyed by Eurazeo and Bridgepoint. ($1 = 0.8795 euros) (Reporting by Matthieu Protard; Writing by Michel Rose; Editing by Susan Fenton)

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