Conclusion announces sale of Conclusion Learning Centers to Archipel Academy

Amsterdam – CFI is pleased to announce that it acted as the exclusive corporate finance advisor to Conclusion, a portfolio company of NPM Capital, on the sale of Conclusion Learning Centers (CLC) to Archipel Academy.

About Conclusion and CLC

Conclusion is an IT service provider set up as an ecosystem of over 25 expert companies that together focus on business transformation and IT services. They provide support for all challenges related to the effective use of data and digital technology: from strategy and design, to implementation, management and continuous development. One of these companies is CLC, founded in 1999, and operating a digital learning and development software platform with its proprietary Learning Management System (LMS) called Class. The Class learning platform gives employees control over their own learning activities to create the best learning experience for every individual. CLC can customise its platform to fit every client’s wishes and needs.

About Archipel Academy

Archipel Academy is a Dutch education technology company that has been active with its all-in-one AI-driven learning platform since 2018. Its product and service portfolio consists of a personal and flexible LMS, a content marketplace with more than 70,000 courses, a network of more than 3,000 educators and an extensive range of smart learning services. In 2022 it attracted growth capital from Pride Capital Partners and Schouten & Nelissen to realise its organic and buy-and-build growth ambitions.

About the transaction

This transaction follows Conclusions’ growth ambition to become the leading IT Services eco-system in the Benelux and other geographies across Europe. The divestment of CLC due to its orientation on products rather than services aligns with that strategy. With the acquisition of CLC’s Class Learning platform, Archipel Academy now offers a complete range of functionalities and can also optimally support organisations with very complex processes, in the development of their people and keeping them up-to-date.

“By adding the Class Learning platform, we strengthen our position in the government sector and take another step towards becoming the leading learning marketplace and thus fulfilling our ambition to keep as many people as possible fit for the future”, says Omar Zakaria Fouab, founder and CEO of Archipel Academy.

Celine van Hulst, Director of CLC: “The market is constantly changing and the growth and development of Class requires a focussed strategy. That focus is with Archipel Academy due to its commitment to learning services, which is why we have decided to divest CLC. It is a great next step for both our employees and the Class learning platform to continue growing and developing within the Archipel Academy group.”

CFI’s role in the process

Based on a longstanding relationship, CFI was invited by Conclusion to orchestrate the sales process for their deep understanding of the business and ideal positioning. Thanks to its market knowledge, insights and inroads, CFI enabled CLC to find the right partner. CFI subsequently coordinated the process and led the negotiations, which resulted in a successful transaction with Archipel Academy that was signed on 31 January 2023 with the expected closing date of 1 March 2023.

Bas van Berkum, Director M&A and Integration at Conclusion: “We asked CFI to participate in the strategic discussions regarding CLC’s positioning within our group and its ambitions. We were looking for a new owner for CLC in the best interest of our clients and our people, with minimal disruption of the business. CFI’s expertise and in-depth sector knowledge were evident throughout the entire process and played a vital role in achieving our transaction objectives.”


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