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December 06, 2013

Cambridge Education Group sold to Bridgepoint Capital

cambridge-education-group.jpg Majority ownership of Cambridge Education Group, a leading pre-university education group based in the UK, has been sold to a US-based private equity firm, reports the PIE (Professionals in International Education) News.

UK-based Cambridge Education Group has sold a majority stake to a US-based private equity firm, Bridgepoint Capital, it was announced today, for an enterprise value of UK£185 million. The new owners have continued international expansion in their sights.

Ex-owners, Palamon Capital, acquired CEG in 2007 and achieved an acquisition multiple of 11 times the current year trading forecast (EBITDA).

Chris Busby, the partner responsible for Bridgepoint’s investment activity in the UK, commented, “Cambridge Education Group has grown substantially, extended its teaching, targeted new markets and importantly, delivered strong academic results.

“Our investment will provide the team with additional financial capacity and reach to accelerate its push further into international markets and realise its ambitions in a growing market.”

During Palamon’s ownership, CEG has grown revenues five-fold to an estimated £90 million for the academic year 2013-14. This growth has been exclusively organic, said the company in a statement, as the management team expanded its teaching capacity, signed on new sites and focused on providing the highest standards of education to its primarily international customer base.

It built in-roads into Europe and the USA with expansion in Boston and the Netherlands, including a recent acquisition of Boston Academy of English.

Read the full article from The PIE News.

CEG acquires Boston Academy of English (October 25, 2013)

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