Linklaters advises Wendel on agreement with Providence to invest €625m in Globeducate
Linklaters is advising advised Wendel, one of Europe’s leading listed investment firms, on entering into an agreement with Providence Equity Partners, (Providence), a premier private equity firm specialising in growth-oriented investments in media, communications, education and technology, to invest in Globeducate, one of the world’s leading international K-12 education groups.
As part of this transaction, Wendel would invest approximately €625m alongside Providence, to hold a c.50% stake in the company's capital based on an enterprise value of c.€2bn.
The transaction is expected to complete in the second half of 2024, subject to the satisfaction of customary regulatory approvals.
Founded in 1972 in Spain, Globeducate provides K-12 (primary and secondary) education through a network of 65 premium bilingual and international schools, as well as online programmes, across 11 countries mostly in Europe. The Group employs more than 6,000 people, including 4,000 highly qualified teachers, and Globeducate schools provide more than 40,000 students with a world-class education adhering to high academic standards. Globeducate students representing a wide range of backgrounds, benefit from a comprehensive and innovative educational experience – as well as first-class pastoral care.
Andrew Lynch comments:
"The education sector presents a number of distinct opportunities and challenges for our financial investor clients, from attracting an increasing amount of capital due to stable, recurring cash flows, to adapting to the growing influence of Generative AI, to navigating complex regulatory waters. Drawing on our expertise facilitating significant cross-border investments within the education sector, we look forward to supporting Wendel on its strategic investment in Globeducate.”
The Linklaters deal team is being co-led by co-head of the firm’s Telecoms, Media and Business Services sector team, David Martin, and Private Equity partner Andrew Lynch, with support from Madrid Corporate M&A partner Carmen Burgos and London-based managing associates John Tsui and Thomas Scott.
