CONSTELLATION closes continuation fund at approximately €100 million

CONSTELLATION Academy Group

CONSTELLATION Academy is one of Germany’s leading adult education platforms. Headquartered in Berlin, the group operates more than 200 locations nationwide, combining in-person delivery with online and blended learning, with a strong focus on government-funded clients across coaching and occupational training. Since CONSTELLATION’s initial investment, the platform’s revenue and EBITDA have grown more than tenfold. Several add-on acquisitions are already lined up for 2026, positioning the group well to become the market leader in German adult education over the coming years.

The Deal

CONSTELLATION CAPITAL AG (CONSTELLATION), a Swiss-based private equity firm focused on asset-light businesses in Germany, Austria and Switzerland, has announced the successful closing of a single-asset continuation fund for CONSTELLATION Academy Group. The new fund advised by CONSTELLATION, CONSTELLATION Academy Continuation SCSp, has secured total commitments of approximately €100 million, with Committed Advisors acting as the sole lead investor in the transaction. The fund provides CONSTELLATION Academy with an extended holding period and additional capital to fund the rollout of new locations and the continuation of the group’s disciplined buy-and-build strategy.

CONSTELLATION CAPITAL AG

CONSTELLATION was founded in 1992 as a privately owned Swiss investor group located in Pfäffikon, Switzerland, on Lake Zurich. CONSTELLATION executes a buy-and-build strategy focused on majority ownership in small-cap, asset-light companies based in Switzerland, Germany and Austria within the business services, education and lifestyle, and healthcare sectors. With an extensive network of renowned and experienced industry partners, CONSTELLATION pursues an active, value-creating investment approach in partnership with entrepreneurs.

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