Formica Capital invests in Elevera Education Group
May 5, 2023
Formica Capital has acquired a majority stake in Elevera Education Group, a reputable educational provider with institutions located in Stockholm, Gothenburg and Malmö
Elevera Education Group is a leading provider of Higher Vocational Education, HVE (Sw:Yrkeshögskoleutbildning) and offers high quality education through 4 institutes in Sweden. Elevera has a strong track-record of educating highly skilled and knowledgeable graduates with high employment rate. The company employs around 50 people and reported revenue of approx. SEK 180m during FY2021/22.
Labour market efficiency has decreased since the turn of the millennium and one important factor is the difficulty of finding the right competence to employ. HVE is considered an important tool to match industry’s demand with rightly educated individuals. This is achieved through close cooperation with companies, by using educators from the industry, as well as through a high share of “on the job training” through mandatory apprenticeships. 90% of students that pass through an HVE education are employed within a year from their exam.
Elevera is one of the largest HVE providers in Sweden with four distinct institutes; Medieinstitutet, Stockholm School of Business, Travel Education Centre and John Ericsson Institutet, all offering on site education in Stockholm, Gothenburg and Malmö as well as digital. Elevera works closely with more than 1,000 companies that provide input to the education programmes as well as apprenticeships for the students. This makes the education very hands on and appreciated by the employers. Around 3,000 students are currently studying full-time programmes in communication, IT, tourism, business administration, construction and real estate at Elevera.
Elevera provides both social and economic positive impact to society. Graduating students improve their livelihoods with educations better suited to the need of society. Unemployment is hence reduced and the tax base increases through a higher educated and more well-equipped workforce. Also, skills and know-how for the transition to a more sustainable society is provided. Elevera’s market leading position with higher graduation rates, higher application rates and 10 percentage points higher proportions of graduating students getting relevant jobs put Elevera in the lead of creating these benefits to society.
For more information please contact:
COO Formica Capital
Tel: +46 739 17 86 91
Investment Director Formica Capital
Tel: +46 72 22 32 581
About Formica Capital
Formica Capital is a Swedish investment company with a long-term ownership strategy. It is owned by the Olsson Eriksson family. Formica Capital creates value by being an active owner in profitable and long-term sustainable companies, that positively impacts society. www.formicacapital.se