Sub-investment grade corporate credit specialist Alcentra, part of BNY Mellon, has invested in Cambridge Education Group (CEG), a provider of foundation programmes and English language training.
Alcentra’s senior loan will support the buyout by Bridgepoint in a transaction totalling GBP185m and will provide a strong platform to deliver the company’s global growth plans.
Established in 1952, the company is a leading player in the international schools market, providing pre-university education to more than 4000 students recruited from over 95 countries via its global marketing network. CEG addresses the UK and US pathway market through sixth form colleges in the UK and high school diploma programmes in the US. Additionally, the company provides shorter one year programmes (foundation courses) targeting students with high school equivalent diplomas wishing to upgrade their academic skills to enter higher ranked universities.
The deal follows Alcentra’s investments in Mountain Warehouse, Busy Bees and Cath Kidston.
