Swedish private equity investor IK Investment Partners has acquired the professional school tutoring provider Studienkreis from investment group Aurelius. Clifford Chance advised IK Investment on the financing of the transaction.

The transaction is subject to clearance from the antitrust authorities and is due for completion around the end of this year.

The financing has been structured as a unitranche/super senior term and revolving facility.

With almost 1,000 private tutoring schools, Studienkreis is one of the largest private tutoring providers in Germany. It has opened 140 new sites in Germany, Austria and Switzerland since 2013 and grown its revenues by more than 20 percent.

This is IK Investment's third acquisition of a German medium-sized business this year. Clifford Chance has previously advised IK Investment on the acquisition of the financial services provider Debitor-Inkasso.

The Clifford Chance team comprised partner Thomas Weitkamp, senior associate Jennifer Seipelt and associates Alexander Lang and Ololade Oni (all Acquisition Finance, Munich).