TPG Capital has acquired TSL Education from Charterhouse Capital Partners in a deal thought to be worth £400m.
TPG plans to increase the company's market share in the education market as well as accelerate its online and offline growth plans.
This latest deal marks TSL's third private equity owner, having been backed by Exponent Private Equity in 2005, supporting its £235m management buyout from former parent News International. Charterhouse acquired the company in May 2007.
London-based TSL focuses on targeted teacher recruitment and providing tools to enhance their work.
The company operates through several brands including TES Connect, an online network of 2.6 million teachers across the world, which enables members to share teaching resources and lesson plans. TES is the company's UK print publication with a focus on job listings. TSL also produces the Times Higher Education World University Rankings in partnership with Thomson Reuters, providing the only global university performance tables.
The company has further offices in Washington DC, New Delhi and Sydney.
According to Companies House, TSL posted EBITDA of £33.1m in the year ended August 2012, and revenues of £73.8m.
Louise Rogers is CEO OF TSL. Karl Peterson is managing partner for TPG.
Fund, which has already been invested in at least one transaction, has a €1bn target
Pechel, via Pechel IV, and the co-investment team of Omnes back the French IT services firm
Connection Capital provided £6.7m to support the buyout of the business in 2017
Temasek previously led a £7m investment for the technology developer in 2016