Law firm Eversheds has advised Graphite Capital on backing the management buy-out of Explore Learning, a provider of after school tuition at primary school level.
Explore Learning has 62 tuition centres across the UK, providing key skills learning in mathematics and English to children of all abilities.
By acquiring a majority stake in Explore Learning, Graphite’s experience in the education sector is further strengthened. Explore Learning’s senior management team is also reinvesting a significant proportion of its sale proceeds.
The Eversheds team advising Graphite on this deal consisted of head of private equity Richard Moulton (pictured), principal associate Edward Waldron and employment partner Danny Blum.
Moulton says: “This is an exciting deal for Graphite and Explore Learning. While Graphite’s backing provides Explore Learning with the flexibility and resources to continue with its growth plans, this deal also enables Graphite to reinforce its position as a leader in the education sector.”
Graphite senior partner Markus Golser says: “We were very impressed by Explore’s culture and the proven operational ability of its management team, led by Bill Mills, an exceptionally talented chief executive. We see Explore as one of the most compelling investment opportunities in the fast growing education sector.”