Sweden’s EQT AB, in partnership with Neuberger Berman Private Markets and the Canada Pension Plan Investment Board (CPPIB), are to acquire global schools operator Nord Anglia Education in a deal worth $14.5bn, including debt, according to a report by Reuters.
The consortium will take a majority stake in the organisation, which operates over 80 international schools across 33 countries, serving more than 85,000 students.
The acquisition marks a continuation of EQT’s long-standing involvement with Nord Anglia, dating back to its initial investment in 2008. CPPIB, a current stakeholder in the London-based education group, will reinvest part of its stake, while Neuberger Berman and other institutional investors join as new stakeholders.
The report cites an unnamed source familiar with the matter as confirming that the equity component of the deal is valued at approximately $10bn, with additional investors potentially joining. Representatives from EQT, CPPIB, and Neuberger Berman declined to comment on the equity specifics.
EQT initially led Nord Anglia to a New York IPO in 2014, raising $304m, before taking it private with CPPIB three years later in a $4.3bn deal. Nord Anglia has since evolved from a Hong Kong-focused operation to a global education provider, with assets across Europe and the United States. EQT will conduct the acquisition through its BPEA Private Equity Fund VIII, with previous investors expected to exit upon deal completion.
