Gyldendal buys 60% of MentorDanmark, invests $1.5M more.

MentorDanmark, a Copenhagen, Denmark-based education company, announced that it sold 60% of the company's shares to a strategic investor - the Danish publisher Gyldendal.

The transaction was made for DKK 57M ($8.7M), valuing the company at DKK 95 million. Gyldendal also gets the opportunity to buy the rest at a later date.

Following the trade, a capital increase of DKK 10 million will be made for the development of Substy, a platform for temporary cover in primary and lower secondary school. It is separated into a separate company.

Mentordanmark, founded in 2013 and run by  founder Nicklas Kany and CFO Chresten Koed, offers private homework assistance in tailor-made mentor programs for children and young people in primary and secondary schools. It has about 2,500 mentors attached, who annually help more than 6,000 children and young people with learning support in mentoring.

In the last financial year, 2017/18, Mentordanmark had a turnover of DKK 44 million. and an operating profit (EBITDA) of DKK 5 million. The company has about 35 full-time employees.