Bridgepoint's Cambridge Education Group sells CATS for £150m

The deal comes five and a half years after Bridgepoint acquired Cambridge Education from Palamon Capital Partners for £185m.

Following the divestment, Cambridge Education will consist of university pathways business OnCampus and its digital division, which provides online and blended university programmes.

Bridgepoint is invested in Cambridge Education via €4.8bn vehicle Bridgepoint Europe IV, which held a final close in 2008.

The transaction will act as a platform for the acquirer to pursue further international expansion. It is scheduled to complete by the end of July.

Company
Founded in 1952, CATS Colleges is a school operator with international schools in the UK, North America and China. The division comprises six campuses in Cambridge, London, Canterbury, Shanghai and Boston, in addition to 10 international language schools.

People
Bridgepoint – Chris Bell (partner).
Bright Scholar – Jerry He (executive vice-chairperson).
Cambridge Education Group – Michael Ioakimides (CEO).

Advisers
Vendor – Travers Smith (legal); Moelis & Company (M&A); Baird (M&A); PwC (financial due diligence, tax); LEK (commercial due diligence).
Acquirer – White & Case (legal); Deloitte (financial due diligence, tax).

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• Topics
• Exits
• UK / Ireland
• Consumer
• United Kingdom
• Bridgepoint
• Trade sale
• PwC
• Travers Smith
• Robert W. Baird
• White & Case
• Deloitte