Folens, the schoolbook publisher, is set to broaden its reach in the education sector by acquiring IICP College, a provider of accredited courses in psychotherapy, counselling and related fields.
The deal is Folens’ third acquisition in the education and learning sector in less than three years and follows the purchase of Hibernia College, a provider of courses in teacher training, and AccountancySchool.ie, an online accountancy training company.
IICP College, founded by Dr Marcella Finnerty in 2003, offers degree courses up to master’s level. It also markets an extensive series of courses for continuous professional development.
Last year it retained profits of just over €1 million.
Finnerty established the college in an industrial estate in Killinarden in Tallaght, west Dublin, an area where she believed there was a strong need for locally trained, community-based counsellors. As a nationally known, specialist educator, IICP College fits with Folens’ strategy to reduce its dependence on publishing materials for primary and secondary schools.
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Folens is also behind Leaf Investments, a backer of early-stage educational and training companies.
Last year Leaf grossed €9.3 million from the sale of its investee company EmpowerTheUser, an immersive training company, to two American private equity firms. It invested less than €500,000.
Folens was founded in 1958 by Albert and Juliette Folens, originally to provide exam notes and guides. Still family-owned, with a third generation of the founders sitting on the board, Folens is headed by its chairman David Moffit, a former Kayfoam Woolfson boss, and Andrew Miller as chief executive.