Levine Leichtman Capital Partners acquires Mander Portman Woodward
Levine Leichtman Capital Partners, a Los Angeles-based private equity firm, has partnered with management to complete the acquisition of Mander Portman Woodward from Apollo Global, a subsidiary of Apollo Group.
Based in London, MPW represents LLCP's first platform investment in Europe.
MPW is a provider of private education for students in their transition from secondary school into UK universities. It offers courses to over 900 students each year at its London, Cambridge and Birmingham campuses.
The investment in MPW was funded from Levine Leichtman Capital Partners IV, a USD1.1bn private equity fund.
Lauren Leichtman (pictured), co-founder and chief executive of LLCP, says: "MPW is the dominant brand in the private UK sixth form college market with a strong track record of growth and profitability. MPW is widely recognised in the market for its superior educational offerings and student outcomes, which have allowed the company's students to gain entrance into the top UK universities. We are excited to partner with the current CEO Nigel Stout and the rest of the MPW senior management team for our first platform investment in Europe, and look forward to the continued growth of the business."
Nigel Stout, MPW's chief executive officer, says: "We are very excited to be partnering with a world-class firm like Levine Leichtman, given the knowledge and years of experience that they will bring to our company. LLCP has a long history of being a value-added partner to its portfolio companies and MPW will be able to derive huge benefit from their strategic, financial and M&A expertise as we seek to expand our college network and educational programmes to fuel our next stage of growth."
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