M&A Deal Summary

Intermediate Capital Group Acquires PSB Academy

On January 23, 2018, mezzanine finance firm Intermediate Capital Group acquired education company PSB Academy from EQT Private Capital Asia

Acquisition Highlights
  • This is Intermediate Capital Group’s 2nd transaction in the Education sector.
  • This is Intermediate Capital Group’s 3rd transaction in Singapore.

M&A Deal Summary

Date 2018-01-23
Target PSB Academy
Sector Education
Buyer(s) Intermediate Capital Group
Sellers(s) EQT Private Capital Asia
Deal Type Secondary Buyout

Target

PSB Academy

Singapore, Singapore
PSB Academy is an independent tertiary education institution. PSB delivers full-fledged tertiary degrees under the brands of renowned university partners in Australia and UK. It operates two state-of-the-art campuses in Singapore as well as schools in Vietnam, Myanmar, and Indonesia. PSB Academy was founded in 1964 and is based in Singapore.

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Buyer(S) 1

Buyer

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.


DEAL STATS #
Overall 257 of 294
Sector: Education M&A 2 of 3
Type: Secondary Buyout M&A Deals 90 of 115
Country: Singapore M&A 3 of 4
Year: 2018 M&A 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-08 Au Bon Pain

Boston, Massachusetts, United States

Au Bon Pain is a bakery cafe operator with company-owned and franchised stores operating globally. The Company's menu includes freshly baked goods, made-to-order sandwiches, soups, and cafe beverages. Au Bon Pain was founded in 1978 and is based in Boston, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-02 Convergint

Schaumburg, Illinois, United States

Convergint is a designer, installer, and services integrated building systems including electronic security, fire alarm, and life safety systems. Convergint was founded in 2001 and is based in Schaumburg, Illinois.

Sell -

Seller(S) 1

SELLER

EQT Private Capital Asia

Hong Kong, China

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT Private Capital Asia is an Asia-focused private equity group specializing in growth equity investments and buyouts of companies valued between $300 million and $1.5 billion. Baring looks for companies that require capital for organic expansion, recapitalizations, or to fund acquisitions. The Group's geographic coverage spans China, India, Japan, Singapore, Hong Kong, and Taiwan. EQT Private Capital Asia was formed in 1997 and is based in Hong Kong.


DEAL STATS #
Overall 15 of 32
Sector: Education M&A 2 of 4
Type: Secondary Buyout M&A Deals 4 of 9
Country: Singapore M&A 1 of 2
Year: 2018 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-17 Halla Cement

Gangneung, South Korea

Halla Cement is a cement producing company operating an integrated cement plant and distributor of OPC, clinker, slag cement and slag powder that it sources from its extensive mineral reserves. Halla Cement was based in 1978 and is based in Gangneung, South Korea.

Sell ₩365.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-20 Cue Group

Shanghai, China

Cue Group is a one-stop digital marketing company for the Chinese market. Cue is a differentiated approach to digital marketing with increased scale, greater technological resources, and new integration capabilities to deliver for customers a full suite of digital marketing solutions. Cue clients include leading consumer brands, financial institutions, online game companies, and internet service providers. Cue Group was founded in 2018 and is based in Shanghai, China.

Buy -