Lioncourt Investments has acquired Dublin language school ECM College in a deal valued at over €1m. Lioncourt, along with minority shareholder Ion Equity, made the acquisition through its investment company The Real Experience Group.
ECM College was founded in 2010 and is one of Ireland’s leading QQI/ACELS accredited providers of English language courses.
The most recent account filings for the business are for the year to April 2014, when ECM booked a loss of over €260,000. The firm said that its 2015 turnover grew to €2.5m, as the college catered for 1,200 students from Europe, Central America, South America and South Korea.
ECM co-founder Eddie O’Loughlin will continue as managing director under the new structure, while his brothers – and ECM’s other founders – Patrick and Ciaran O'Loughlin leave to launch a new property venture in 2016. The 60 people currently employed by ECM will also continue in their roles.
The ECM acquisition is Lioncourt Investments’ first foray into the English language education sector and the firm said that it was spurred by the growth potential in the sector once new regulations are introduced this month.
In Association with
The Real Experience Group already owns and manages a range of brands operating in the travel and education sectors, including USIT, Budget School and Group Tours, i-to-I and the Travel Adventure.
Previously known as Kinlay Group, it was acquired by Lioncourt Investments and Ion Equity in 2002. Lioncourt was founded by Michael Tunney and David Andrews, and its current investment portfolio includes Valeo Foods and Elysian Collection.
Speaking about the ECM acquisition, Karen Smith-Watson, CEO of The Real Experience Group, said: “Having acquired London's largest provider in this sector in May 2015, English Studio London, one of our strategic growth objectives is to expand the language sector of our business with further acquisitions and developments planned for Ireland, UK and the US.”
Eddie O’Loughlin, MD of ECM College, added: “The English language sector in Ireland has suffered huge upheaval in the last two years and the imminent regulatory changes will result in further closures for a number of unaccredited providers.
“It is only then that the process to rebuild 'brand Ireland' among our markets can begin in earnest. This deal allows ECM College to continue to invest in and expand in Ireland and abroad as part of such a progressive and entrepreneurial group.”
Karen Smith Watson, CEO of The Real Experience Group, with ECM College founders Eddie O’Loughlin (left) Patrick O'Loughlin and Ciaran O'Loughlin (right)
