Ardian acquires Study Group from Providence Equity Partners

Ardian said the firm was an attractive investment due to the ambition of its management, long-term partnerships with universities and strength of its growth. It plans to grow the firm through strategic acquisitions.

The investment was completed with capital from Ardian LBO Fund VI, according to a person familiar with the situation. The fund closed on September 2016 on €4.5bn.

Previous funding
Providence Equity Partners acquired a majority stake in Study Group in a deal that valued the company at $570m in 2010. It acquired its holding from Champ Private Equity and Peterson Investments.

Champ Private Equity and Petersen Investments backed the £72m management buyout of Study Group from the information publishing division of the Daily Mail and General Trust in 2006.

Company
Established in 1990, Study Group is a provider of international education in the UK, Europe, Australia, New Zealand and North America. It helps international students entering English-speaking universities with academic, language and learning skills.

People
Ardian – Olivier Personnaz (managing director).

Advisers
Equity – OC&C (commercial due diligence); EY (financial due diligence); EY (tax); Allen & Overy (corporate finance).

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• Topics
• Buyouts
• UK / Ireland
• Consumer
• Ardian (formerly Axa PE)
• Providence Equity Partners