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Priveq – new growth partner for ILT Inläsningstjänst
ILT Inläsningstjänst (”ILT”), which offers educational audiobooks for students with reading difficulties and dyslexia as well as study support for immigrant students, is bringing Priveq Investment (”Priveq”) in as a future growth partner. Management will continue as owners together with the Board of Directors.
Since 1990, ILT has been working towards providing equal opportunities for every student to acquire knowledge and information in school. Today, the core of the company’s offering is educational audiobooks focusing on students with reading difficulties and dyslexia as well as study support for immigrant students. The audiobooks are provided on a digital platform and sold through subscriptions to the majority of the schools in Sweden. The company had a turnover of SEK 55m in 2015 and has had an average growth of around 40 percent per year for the last two years. ILT has approximately 20 full-time employees and more than 50 editors, narrators and proofreaders working on a project basis. The head office is located in Stockholm.
”We are impressed by ILT’s strong customer offering and unique position as a partner to Swedish schools. The company’s position provides a stable foundation for continued expansion and we look forward to actively supporting ILT and its employees on the exciting journey the company has ahead.” says Henrik Westfeldt, Partner and Investment Manager at Priveq.
Throughout the last few years, ILT has repackaged its offering very successfully, with continued focus on equal opportunities for all students to acquire knowledge and information. Through the partnership with Priveq, conditions are created for continued development of the company’s offering and with that, also growth on current and new markets.
”We are very pleased to have Priveq as a new partner in ILT. We look forward to developing and growing ILT together in order to continue to make it possible for all students to have equal opportunities to obtain a rewarding education.” says Jakob Skogholm, CEO of ILT.
In connection with the deal, Keith Fransson will join as Chairman of the Board. Keith has experience in the educational sector, previously being CEO of Hermods, a part of AcadeMedia. Another new member of the board is Jacob Dalborg, with long experience within the publishing industry. Jacob is currently CEO of Bonnier Books.
For further information, please contact:
Henrik Westfeldt, Partner and Investment Manager, Priveq
Tel: +46 (0)8 459 67 60
Jakob Skogholm, CEO ILT
Tel. +46 (0)8 556 115 59
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About ILT ILT, with its head office in Stockholm, offers services and products to improve the opportunities for all students to acquire knowledge and information in school. Today, the company’s largest products are educational audiobooks for students with reading difficulties and dyslexia, as well as study support for immigrant students. ILT has the majority of Swedish schools as customers. In 2015, the turnover was SEK 55m and the company had approximately 20 full-time employees and more than 50 editors, narrators and proofreaders working on a project basis.
More information is available at www.inlasningstjanst.se.
About Priveq Investment
For more than 30 years, Priveq Investment has invested in profitable growth companies. The business concept is to generate value through long-term investments and active ownership in unlisted growth companies. Since 1983, approximately SEK 3,5 billion has been invested and Priveq Investment and its employees have carried out 117 investments and been involved in taking 24 companies to an IPO. The current portfolio consists of 14 companies with a total revenue of SEK 6 billion and with approximately 1,700 employees. Some of the current portfolio companies are 21 Grams, Crem International, El-Björn, House of Ports, Internatural (with the brand Kung Markatta) and QleanAir Scandinavia. Behind Priveq Investment is essentially a number of long-term, institutional pension funds in the Nordics and Europe, for example Skandia Liv, Fjärde AP-fonden, Kommunal Landspensjonskasse (KLP) and Europeiska Investeringsfonden (EIF).
More information is available at www.priveq.se.
