MML-backed Learning Curve nearing sale - report

Katharine Hidalgo
28 February 2020

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MML Capital portfolio company training and apprenticeships provider Learning Curve is in the final stages of a sale process, according to a report by Unquote sister publication Mergermarket.

Agilitas is said to be one of the remaining bidders. The firm is currently investing from its Agilitas 2015 Private Equity Fund, which closed on €245m in September 2017.

Learning Curve reported adjusted EBITDA of £8.5m from revenue of £31m for the year ending on 31 January 2019, though it is expected to be marketed based on an EBITDA of £13m.

MML Capital Partners VI, which closed on €438m in March 2016, acquired the asset in March 2015 for an estimated deal value of £25-50m, according to Unquote Data.

Headquartered in Spennymoor, the company provides training programmes for school-leavers and unemployed people, as well as further education for employed and advanced learners. These include apprenticeships, short vocational courses and bespoke training, funded by the UK government’s Education Skills Funding Agency (ESFA) and Education Funding Agency.

Clearwater International is running the sale process.

Click here the read the full report on Mergermarket