Tellus Group is the new owner of Språkservice 24
Published: August 1, 2023
The purchase price for the shares, excluding cash, is SEK 7,700,000. SEK 3,465,000 will be paid in cash and SEK 2,310,000 through newly issued shares at a price of SEK 7.99 per share, which amounts to 28,911 newly issued shares. The cash payment is financed by a loan from the principal owner, Bina Holding, at an interest rate of 7.5 percent plus STIBOR, which are the same terms the company has used in previous acquisitions.
Språkservice 24 was founded in 2011 and has approximately 60 professional teachers who teach more than 50 different languages. For the 2021/22 fiscal year, the company’s revenue totaled SEK 5.2 million and its operating profit was SEK 1.6 million.
Omniglot and Språkservice 24 will retain their respective brands and will continue to operate as two independent companies in order to offer the market a diverse range of services in this field. The companies will benefit from the economies of scale offered by the Tellus Group in areas such as development and administration.
“The Tellus Group continues to grow in the field of educational services,” says Bijan Fahimi, CEO of the Tellus Group. “In addition to native language instruction and academic counseling, we see significant opportunities to expand this new business segment through acquisitions and organic growth.” For example, we can incorporate more digital solutions in this area, which will provide students, schools, and the Tellus Group with exciting opportunities for development.
For more information
Bijan Fahimi, CEO of Tellusgruppen AB
bijan.fahimi@tellusgruppen.noboxdesign.se
+46 707 167 453
Certified Adviser
The Company’s Certified Adviser is Mangold Fondkommission AB, which can be reached by phone at 08-503 015 50 and by email at ca@mangold.se.
About Tellusgruppen AB (publ)
The Tellus Group is a long-term owner of well-managed companies in the education and childcare sectors. The Group currently operates 27 preschools and seven elementary schools, and also provides childcare and educational services.
The Tellus Group was founded in 2012 as the parent company of Tellusbarn (which was founded in 2007) and as a platform for future expansion in the education and childcare sector.
The Tellus Group’s business concept is to establish, operate, and develop profitable and growing subsidiaries that offer high-quality, innovative, and in-demand services within their respective fields.
