Horizon-backed Juniper bolts on Pupil Asset

The firm provided fresh equity to support the acquisition. This is the fourth investment the education platform has made since Horizon's initial investment.

Further investment in the development of Pupil Asset is planned following the acquisition, according to a statement.

In July 2019, the firm invested £20m to support the management buyout of EES For Schools, as Juniper was then known. The investment was made from Horizon Capital I, which closed on £200m on October 2018.

Clydesdale Bank provided a debt package to support the transaction and has also committed further facilities for follow-on acquisitions.

Company
Pupil Asset provides a management information system (MIS) used to manage student records, staff management, assessment tracking, and for other purposes. It was founded in 2008 and is based in Norwich. It has 26 employees at one location serving 900 primary schools in the UK.

People
Horizon Capital – Simon Hitchcock (managing partner).
Juniper Education – Gavin Freed (chairman).
Pupil Asset – James Leeds (CEO).

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• Topics
• Portfolio management
• UK / Ireland
• Technology
• United Kingdom
• Horizon Capital (formerly Lyceum Capital)
• Build-up
• Buy-and-build