The CIR group has developed over time a portfolio of international non-core investments, in particular in education, private equity and venture capital through the subsidiary CIR International.
During third quarter 2011 the CIR group acquired an interest of approximately 20% in SEG (Swiss Education Group), one of the world leaders in hospitality education and management training for an amount of about Euro 28 million. Founded in 1982, the SEG group operates five hospitality management schools and a language school in Switzerland with around 5,000 students from more than 80 different nationalities. The annual turnover of the SEG group is around Euro 100 million. At the beginning of 2013 the CIR group acquired the Southlands International School in Rome.
Corporate Venture Capital
Since 2002 the CIR group has invested in high-tech start-ups or early-stage companies around the world through CIR Ventures, the groupís venture capital fund. The fund currently holds investments in four companies, of which three are in the United States and one in Israel, operating in the sectors of information and communications technology and consumer electronics. As of 31 December 2012 the book value of these investments was Euro 11 million.
The group also manages a diversified portfolio of direct minority shareholdings and investments in private equity and venture capital funds, with a fair value of Euro 97 million as of 31 December 2012.
The Chief Executive Officer of CIR International is Enrico Neckels.