Oakley exits Inspired Education

Oakley invested in Inspired Education from its second-generation fund. The fund held a final close on €524m in December 2014 and has since made realisations from five other portfolio companies. Remaining assets include Daisy Group and North Sails Europe.

Oakley Capital Investments (OCI), a listed investor that takes stakes in Oakley funds and co-invests in Oakley deals, has also fully realised its stake through both its investment in Oakley Capital Private Equity Fund II and its direct investment in the company. OCI's proceeds from the sale amounts to £99m.

Previous funding
Oakley invested €16.8m in Inspired in 2013 through its Oakley II and directly via OCI. Subsequently, TA made a growth capital investment in the company in July 2017, and both OCI and Oakley partially realised their investments.

EQT Credit provided €115m in debt to support the company's expansion plan in 2018. The GP drew capital for the financing from its €530m EQT Mid-Market Credit Fund, which held a final close in April 2016.

In May 2019, Warburg Pincus and TA Associates made growth capital investments in the group. The deal saw Oakley sell down some of its shares, while OCI continued to hold its entire stake in Inspired, as well as its remaining indirect interest through Oakley II.

OCI's share of proceeds from this transaction came to approximately €40m, while its interest in Inspired, through both its direct investment and Fund II, was valued at approximately €102m.

Company
Established in 2013 and headquartered in London, Inspired manages a network of 50 private schools across Europe, Australia, Africa, the Middle East and Latin America, teaching students aged 1-18. The company has offices in London, Milan, Johannesburg, Bogota and Auckland.

Inspired reported revenues of £237.68m with EBITDA of £45.26m and EBIT of £26.67m for the year to 31 August 2018.

People
Oakley Capital – Peter Dubens (managing partner).
Inspired Education – Nadim Nsouli (founder, CEO).

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• Exits
• UK / Ireland
• Consumer
• United Kingdom
• Warburg Pincus
• TA Associates
• Oakley Capital