The school running group, Nord Anglia, which operates the most highly priced day school in Ireland, could potentially hold a value of up to €14 billion ($15 billion). This comes as Nord Anglia’s investors contemplate selling some of their stakes in the business. Reports have surfaced that the company has captured the attention of private equity firms and sovereign wealth funds, with the investors planning to realise a profit from their stakes.
There is possible interest from buyout firms including KKR, Permira, and Hellman & Friedman to acquire majority shares in Nord Anglia. On the other hand, Gulf wealth fund Abu Dhabi Investment Authority and the Singaporean sovereign wealth fund GIC are considering acquiring minority stakes.
Founded in 1972, Nord Anglia presides over 80 plus international schools across Asia, Europe, the Americas, and the Middle East. These comprise boarding schools and offer education from kindergarten through to the age of 18. One of its institutions, located in south Dublin and inaugurated in 2018, charges over €23,000 annually.
Firms EQT AB and Canada Pension Plan Investment Board (CPPIB), two of the company’s primary shareholders, have engaged banks to look into potential business sales or listings. EQT intends to maintain its share in Nord Anglia, whilst CPPIB plans to divest its investment. Neither EQT nor CPPIB has made any official comment.
In case of a deal, Nord Anglia could potentially be appraised at around $15 billion. Sovereign wealth funds may align with some interested private equity firms to form a consortium. Representatives for KKR, Permira, Hellman & Friedman, ADIA and GIC did not offer any comments.
EQT, once part of Baring Private Equity Asia, became an investor in Nord Anglia in 2008. Almost a decade later, it collaborated with CPPIB to privatise the company in a deal valued at $4.3 billion.
Education has recently been an active area for private equity deals. Blackstone is reportedly close to acquiring some Asian assets from Dulwich College International for an approximate $600 million. Meanwhile, KKR is purportedly considering options for EuroKids International, including selling its prevailing stake in the Indian pre-school and early-learning chain.