Swedish investment company EQT plans to take Japanese education services provider Benesse Holdings private in a deal valued at more than $1 billion, by teaming up with the company’s founding family.

EQT said Friday that one of its funds would spend 207.95 billion ($1.37 billion) to buy Benesse shares through an tender offer as part of management buyout. EQT said the fund wants to start the tender in early February.