KKR, a private equity American, acquired a majority stake in the professional training and certification company MasterD, to support professional and skills development in Portugal.
“KKR, a leading investment firm, and MasterD, a leading training company in Portugal and Spain, today announced an agreement whereby KKR will acquire a majority stake in MasterD. Its founder, Luis Gómez, and the management team will reinvest in the company together with KKR. No more financial information will be released ”, the statement reads. However, Jornal Económico knows that KKR's investment was 150 million euros.
This investment is part of KKR's global impact strategy, and is the second investment of its Global Impact Fund in Europe, after the investment in Viridor, the leading company in responsible waste management and recycling in the United Kingdom.
KKR's Global Impact Fund focuses on generating risk-adjusted returns by investing in companies that contribute to the United Nations' Sustainable Development Goals.
KKR has invested more than $ 5 billion in the Iberian Peninsula since 2010, including transactions in private equity, infrastructures and other asset classes, with investments in companies like the Portuguese OutSystems.
The investment in MasterD follows on from the operation carried out by KKR last year at Burning Glass, "a major supplier of analytical data on the labor market that monitors supply and demand to inform on hiring patterns and skills development".
What is MasterD?
Founded in 1994 and based in Zaragoza, MasterD offers annually more than 280 courses to more than 50 thousand trainees in Spain and Portugal (centers in Lisbon, Porto, Coimbra and Faro). These courses include vocational training and professional certifications for the private sector, as well as preparation for exams in public tenders in different areas.
In a statement, KKR explains that the professional training and certification market, as well as that of exam preparation, has grown significantly in recent years with the aim of meeting the demand for training and professional qualification in Portugal, “at a time when that the country seeks to address the challenges of skills mismatch among the population and unemployment, especially among young people ”.
"Professional training and retraining are key political priorities, both for graduates who may need technical skills, and for non-graduates looking to find new ways to access a job," the statement said.
MasterD "has a wide offer to support trainees, at all stages of their professional and educational development, and who want to improve their job prospects or career progression".
In the statement Stanislas de Joussineau, director of KKR and director of global impact in EMEA [Europe, Middle East and Africa], said: “MasterD is helping to address a critical social challenge by improving employability and skills, something which is closely aligned with the objectives of KKR's strategy around impact investing ”.
“The results obtained by the trainees and the improvement of their perspectives attest to the quality of the courses and the platform built by the founder and the management team”, says the KKR manager.
Luis Gómez and Antonio Mayoral Serrate, founder and CEO, respectively, of MasterD, explained in the note sent to newsrooms that “we know that KKR fully shares our mission of helping trainees across the Iberian Peninsula to obtain qualifications and skills that help them to progress in their professional careers ”.
“MasterD's mission has always been to improve employability. Reducing the skills gap has never been more critical to supporting economic recovery than it is today. With the support of KKR, we are excited to be able to invest in supporting even more people who want to succeed in the job market ”, they conclude.