Sovereign Capital has sold World Class Learning to Nord Anglia Education
Sovereign Capital Partners LLP (“Sovereign Capital”) has sold 100% of their shares in WCL Group Limited (“WCL”) to Nord Anglia Education (UK) Holdings plc (“Nord Anglia Education”) in a transaction totalling approximately £153 million (or US$237 million). Nord Anglia Education is owned by Baring Private Equity Asia.
WCL delivers premium K-12 education to c.4,500 students in nine international schools: six schools in the United States, one in Europe and four in the Middle East. In addition, WCL offers leading-edge educational products and services to schools worldwide, including its international curricula which are used by nearly 1,500 schools in some 80 countries.
Sovereign Capital acquired WCL in 2008 and worked with the management team to deliver strong organic and acquisitive growth, while ensuring a continual focus on delivering high-quality education. Student numbers increased by 165%, from c.1,700 at the time of investment to c.4,500 today. In addition, WCL acquired International College Madrid (Spain) whilst opening a new school in the United States (New York) and a new school and two campuses in Qatar (Al Khor and Doha).
The acquisition of WCL will enable Nord Anglia Education to enter the North American market whilst strengthening its presence in Europe and the Middle East. The addition of WCL’s outstanding schools will further strengthen Nord Anglia Education’s position as a leading premium schools organisation.
James Alexandre, WCL’s Chairman commented: “From beginning-to-end the Lincoln International team did a fantastic job for WCL. They cared about the business, ran an excellent process and helped us fully articulate the strength of our case to the market. The Lincoln International team became trusted partners, advising on the big things while also minding the details, all of which helped achieve a great result.”
Andrew Hayden, Managing Partner of Sovereign Capital, said: “We appointed Lincoln International because we knew that it would be an important deal for them and that they could reach international buyers in the global education and training sector. Their commitment to the deal and to driving every aspect of the process ensured a highly competitive auction which delivered an excellent result for shareholders.”
Darren Redmayne, UK CEO & Managing Director at Lincoln International commented: “The process we ran was highly competitive with keen interest from global buyers who saw WCL as a rare platform opportunity in the international schools sector of education services. For Nord Anglia Education, the deal has strong commercial logic and creates one of the largest international schools group which is better able to serve the needs of its students.
About Sovereign Capital
Sovereign Capital invests in UK-based companies in the support services, education & training and healthcare services sectors with a focus on ‘Buy & Build’ strategies. Since being established in 2001, Sovereign Capital has completed more than 200 Buy & Build transactions.
About Nord Anglia Education
Nord Anglia Education is the world’s leading premium schools organisation with 14 schools located in eight countries in Europe, the Middle East and Asia. Founded in 1972, Nord Anglia Education has developed extensive experience of managing and growing schools, improving educational achievement as well as working with governments to raise standards.
About Baring Private Equity Asia
Baring Private Equity Asia is an independent private equity firm in Asia with offices in Hong Kong, Shanghai, Beijing, Mumbai, Singapore and Tokyo. Baring Private Equity Asia has $5 billion under management.
View More Transactions
Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.