Clearwater advises EduLab on its sale to Lindhardt & Ringhof

Transaction

EduLab sold to Lindhardt & Ringhof

Sell-side

Undisclosed

Role

Adviser to EduLab on its sale to Lindhardt & Ringhof

Sector

Tech & Tech Services

Region

Denmark

Clearwater has advised EduLab, a leading provider of SaaS-based maths solutions, on its sale to Lindhardt & Ringhof, a Danish publishing house.

EduLab provides adaptive maths technology and digital maths curriculum for elementary and lower secondary schools in Denmark, Sweden, Norway, and the Netherlands. The comprehensive maths platform comprises of MathsFessor and three add-on modules (SuperTrainer, GeometryFessor, and Coding Island). MathsFessor is the most used maths portal in Denmark (Matematikfessor.dk) with 10,000 plus teachers and 500,000 plus pupils using the platform.

Lindhardt & Ringhof is the largest publisher of educational materials for elementary schools in Denmark as part of the media group Egmont.

This transaction will further enhance and develop the interaction between the digital and analogue portfolio of Lindhardt & Ringhof.

Throughout the process, the Clearwater deal team worked with great zealousness and professionalism. The deal team displayed a great understanding of how to navigate through a process where different stakeholders must be catered to, which helped us achieve the best possible outcome for me and the business going forward. They showed impressive insight into the business and market and in some regards even allowed me to see my own company in a new light. Even in times of distress, they were excellent at focusing on what was important and planning and prioritising resources so I knew where to channel my energy.
Kasper Holst Hansen, Founder and CEO, EduLab

We were aware of Clearwater before the process due to their previous EdTech transactions. Their extensive market knowledge alongside their reputation for being thorough was reflected in both the sales material and in how they managed the process with close attention to detail. The team’s support and advice during the process and their strong knowledge of, and connection to, relevant players in the market has played an important role in this successful outcome.
Jesper Johansen, Chairman of the board and professional investor, EduLab

We are delighted to have been advised by Clearwater. Their experience from previous transactions in the EdTech sector meant they had great knowledge of and access to relevant potential buyers. This was invaluable in helping EduLab to achieve this successful outcome.
Jesper Lilledal, Partner, Vækstfonden

When we sold Clio Online to Bonnier 5 years ago the market conditions were very different from today. The municipalities’ buying behavior has changed over the last few years driven by subsidies being phased out resulting in a more selective approach when deciding on which digital content to buy. Edulab has managed to continue to grow despite difficult market conditions by focusing solely on developing the best math tool, which was also supported by the fact of a very high usage in the schools. Edulab fits very well into the strategy of Lindhardt & Ringhof and look forward to following the company in the years to come.
Lars Thorup Gregersen, Partner, Clearwater