Advent International sells WSiP to Hungary’s Central Group

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Advent International has agreed to sale its Polish educational services provider Wydawnictwa Szkolne i Pedagogiczne to Hungarian investor Central Group.

WSiP provides a range of educational services including tutoring services, self-learning, digital products and teacher services.

Advent bought the business in February 2010 and seen it grow from a textbook publisher to a comprehensive educational services provider.

During Advent’s ownership, the business’ number of registered online users has increased by over 700 per cent.

Central Group founder Zoltán Varga, said: “Central Group is deeply committed to the development of the Central Eastern European region.

“I am delighted and honoured to invest in the Polish publishing industry.

“As Central Group has extensive experience in media, book publishing, printing and education sectors we are excited to work with WSiP’s management and the entire company.

Earlier this year Advent picked up a 80 per cent stake in the underperforming Brazilian operations of Walmart.

In March, AltAssets reported that Advent has hired Goldman Sachs and Rothschild in a bid to sell Ammeraal Beltech for €1bn.

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