Education International Cooperation

In December 2013, CVC Asia Fund III, together with LP co-investors, completed the buyout of EIC from the founders. The transaction was proprietarily sourced and led by CVC.

EIC is China's number one overseas educational counselling service provider, with 16% national market share, and number five test preparation tutoring provider, with 6% market share. The business was founded in 2000, and today counselling is present in 18 cities, with a number one position in eight cities and top three position in all 18 cities, including a number one position in three of the top markets in China: Guangzhou (49% share), Shenzhen (33% share), Shanghai (13% share). EIC has grown rapidly, with EBIT CAGR of 60% over 2011-2013, driven by both student volume and ASP growth.

The company has an attractive and sustainable business model, with long-term drivers supporting growth. Specifically, these drivers are: i) demand to study abroad at younger ages, which increases need for counselling support; ii) continued agent usage penetration in China, at 50% vs. 65-70% agent usage even in advanced education markets in Asia; iii) continued demand from schools for qualified, tuition paying students from China - 90+% of schools expect to maintain or increase usage.

Year of investment



Overseas education counselling and test preparation