HIG Europe, the European operating arm of HIG Capital has announced it has reached an agreement for the sale of International School Group of Europe (ISE) to Inspired. The closing is expected by mid-September. Financial terms were not disclosed (press release). ISE, founded in 1958 by Formiga family, is a group of schools that handles annually about 1800 students between Italians and immigrants with an age between 3 and 18 years, in four locations in Milan, Modena, Monza and Siena. Raffaele Legnani, Managing Director of HIG and head of HIG activities in Italy, Â paid tribute to Formiga family because thanks to the activity of Paolo and Franco Formiga, it was possible to get a very satisfactory return for investors in the period from the investment of HIG (see here bebeez) to today. Paolo Formiga, on the other hand, thanked HIG for the help in the development of the company and looks to the partnership with Inspired which will offer more opportunities to students and teachers of ISE. A similar appreciation was made by Nadim M. Nsouli, founder and chairman of Inspired, an organization that brings together schools that operate in Europe, Australia, Latin America and Africa. The expansion of Inspired is supported by Educas, a company that invests in the education sector which belongs precisely to Nadim M. Nsouli. After the acquisition of ISE Inspired will hold a total of 23 schools with a number of students around 15,000.
