Montagu exits University of Law

The exit comes three years after Montagu acquired ULaw (then the College of Law) for an estimated £200m through its €2.5bn Montagu IV vehicle. The GP's acquisition of ULaw marked the creation of the UK's first for-profit university.

As part of GUS's investment, ULaw will gain access to substantial additional cash to help accelerate delivery of its existing plans for growth and expansion. The university's scholarship will also receive increased funding as part of the deal.

Following the deal's completion, GUS will undertake a strategic review of its UK-regulated businesses to determine an optimal structure for the addition of ULaw to its current portfolio of higher education institutions.

ULaw CEO John Latham will remain in place following the deal, as will the rest of the university's management team.

GUS already operates several education institutions in the UK, including London College of Contemporary Arts, London School of Business & Finance and St Patrick's College.

Company
Founded in 1962 as the College of Law, ULaw is a provider of legal education and training to students and professionals in the UK.

It received its Royal Charter in 1975 and, in 2006, became the first independent institution with degree-awarding powers. The institution was given university status in November 2012, the year of its acquisition by Montagu.

ULaw operates education centres in London, Birmingham, Bristol, Chester, Guildford, Manchester and Leeds.

People
Montagu director Alex Dabbous represented the GP. John Latham is the CEO of the University of Law. Aaron Etingen is the founder and executive chair of GUS.

Advisors
Vendor – Linklaters (Legal)
Management – Travers Smith (Legal)
Equity – Eversheds (Legal); Nomura (Corporate finance); Quayle Monro (Corporate finance)

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