Investcorp divests GL Education

Following the deal, LLCP will look to further GL Education's international expansion, with a particular focus on the US.

Investcorp acquired the company in March 2012 from previous backers Veronis Suher Stevenson. Veronis first invested in the company in 2005.

Since investing, Investcorp has transitioned GL Education from a mainly paper-based product business to a digital solutions model, according to the GP. The company also expanded into the Middle East and Asia.

Furthermore, the GP supported the company's acquisition strategy, purchasing the international rights to the Cognitive Abilities Test in 2013. In 2014, it bought The Test Factory and in 2015 it acquired Lucid Research.

Company
Established in 1981, GL Education is a global provider of educational assessments. Its range of assessments is used to measure children's abilities, track their progress in key subjects, and diagnose underlying factors affecting learning. The tests are used in UK, bilingual and international schools, as well as by education ministries.

People
Investcorp – Jose Pfeifer (principal).
GL Education – Greg Watson (CEO).
Levine Leichtman Capital Partners – Lauren Leichtman (co-founder, CEO). 

Advisers
Vendor – Robert W Baird (M&A); Gibson Dunn & Crutcher (legal).
Equity - Kirkland & Ellis, Michael Paley, David Arnold (legal).  

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