M&A Deal Summary

EQT, CPP Investments and NB Private Equity Partners Acquire Nord Anglia Education

On October 21, 2024, private equity firm EQT, pension CPP Investments and asset manager NB Private Equity Partners acquired education company Nord Anglia Education from EQT Private Capital Asia and CPP Investments for 14.5B USD

Acquisition Highlights
  • This is EQT’s 7th, CPP Investments’ 4th and NB Private Equity Partners’ 2nd transaction in the Education sector.
  • This is EQT’s , CPP Investments’ 3rd and NB Private Equity Partners’ largest (disclosed) transaction.
  • This is EQT’s 19th, CPP Investments’ 6th and NB Private Equity Partners’ 4th transaction in the United Kingdom.

M&A Deal Summary

Date 2024-10-21
Target Nord Anglia Education
Sector Education
Buyer(s) EQT
CPP Investments
NB Private Equity Partners
Sellers(s) EQT Private Capital Asia
CPP Investments
Deal Type Secondary Buyout
Deal Value 14.5B USD
Advisor(s) Goldman Sachs
J.P. Morgan Securities
Morgan Stanley
Lazard
Deutsche Bank Corporate & Investment Banking
HSBC Global Banking and Markets (Financial)
Latham & Watkins (Legal)

Target

Nord Anglia Education

London, United Kingdom
Nord Anglia Education is an international operator of premium schools, serving students from kindergarten through the end of secondary school (K-12). Together, they educate more than 37,000 students from kindergarten through to the end of secondary education. Nord Anglia Education was formed in 1972 and is based in London, United Kingdom.

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Buyer(S) 3

Buyer

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 242.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.


DEAL STATS #
Overall 305 of 318
Sector: Education M&A 7 of 7
Type: Secondary Buyout M&A Deals 94 of 101
Country: United Kingdom M&A 19 of 20
Year: 2024 M&A 14 of 16
Size (of disclosed) 1 of 44
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-08 OX2

Stockholm, Sweden

OX2 develops, builds, finances and manages renewable energy plants in the Nordic countries. Company strive towards a 100 % sustainable and renewable energy sector. Company has generated approximately 1,200 MW of wind power. OX2 was founded in 2004 and is based in Stockholm, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-23 Melita

Mriehel By-Pass, Malta

Melita is a provider of high-speed broadband and mobile services as well as a premium TV to households and businesses connected to its state-of-the-art telecom network in Malta. It owns and operates a fully invested, over 1,600km long HFC network as well as a 5G-ready mobile network with its own tower and small cell footprint. Melita was founded in 1991 and is based in Mriehel By-Pass, Malta.

Sell -
Buyer
DESCRIPTION

CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.


DEAL STATS #
Overall 53 of 56
Sector: Education M&A 4 of 4
Type: Secondary Buyout M&A Deals 12 of 13
Country: United Kingdom M&A 6 of 6
Year: 2024 M&A 4 of 4
Size (of disclosed) 3 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-04 AirTrunk

North Sydney, Australia

AirTrunk is an Asia Pacific data center platform operating 800MW of capacity committed to customers and owns land that can support over 1GW of future growth across the region. AirTrunk was founded in 2015 and is based in North Sydney, Australia.

Buy AU$24.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-10 Calpine

Houston, Texas, United States

Calpine is a generator of electricity from natural gas and geothermal resources with operations in competitive power markets. Calpine was founded in 1984 and is based in Houston, Texas.

Sell $26.6B
DESCRIPTION

NB Private Equity Partners is a publicly traded asset manager focused on acquiring direct investments in privately held companies. The Firm principally targets businesses in the US and looks to invest alongside other private equity managers when considering opportunities. NB Private Equity Partners is headquartered in the UK, with an additional office in the US.


DEAL STATS #
Overall 39 of 39
Sector: Education M&A 2 of 2
Type: Secondary Buyout M&A Deals 20 of 20
Country: United Kingdom M&A 4 of 4
Year: 2024 M&A 1 of 1
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-08 Biolchim

Bologna, Italy

Biolchim is a company focused on the production and commercialization of biostimulants, whose function is to stimulate natural processes to enhance nutrient uptake, nutrient efficiency, tolerance to abiotic stress, and crop quality in full respect of sustainable agriculture values and practices. Biolchim was founded in 1973 and is based in Bologna, Italy.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-05 Rino Mastrotto Group

Trissino, Italy

Rino Mastrotto Group produces and supplies leather products. Rino Mastrotto Group SpA offers calf and bovine leather products for footwear such as classic shoes, casual, and sporting footwear, as well as for leather goods. Rino Mastrotto Group was founded in 1998 and is based in Trissino, Italy.

Sell -

Seller(S) 2

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 29 of 32
Sector: Education M&A 4 of 4
Type: Secondary Buyout M&A Deals 9 of 9
Country: United Kingdom M&A 6 of 6
Year: 2024 M&A 1 of 2
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-09 GeBBS

Culver City, California, United States

GeBBS specializes in revenue cycle management, health information management (HIM), and medical billing services. The company offers services designed to help US-based healthcare providers, including hospitals, health systems, and physician practices, improve their financial performance by optimizing revenue cycle processes and ensuring accurate coding and billing practices. GeBBS was founded in 2005 and is based in Culver City, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-24 Horizon Robotics

Beijing, China

Horizon Robotics is a provider of energy-efficient computing solutions for advanced driver assistance systems (ADAS) for consumer vehicles, and NETA Auto. Horizon Robotics was founded in 2015 and is based in Beijing, China.

Sell -
SELLER
DESCRIPTION

CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.


DEAL STATS #
Overall 16 of 18
Sector: Education M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
Country: United Kingdom M&A 3 of 3
Year: 2024 M&A 3 of 3
Size (of disclosed) 3 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-04 AirTrunk

North Sydney, Australia

AirTrunk is an Asia Pacific data center platform operating 800MW of capacity committed to customers and owns land that can support over 1GW of future growth across the region. AirTrunk was founded in 2015 and is based in North Sydney, Australia.

Buy AU$24.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-10 Calpine

Houston, Texas, United States

Calpine is a generator of electricity from natural gas and geothermal resources with operations in competitive power markets. Calpine was founded in 1984 and is based in Houston, Texas.

Sell $26.6B