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Apax to school a deal with Cadence
Posted on Thursday, 13 February 2020 11:20
Private equity firm Apax Partners has agreed to pick up US-based early childhood education provider Cadence Education from Morgan Stanley Capital Partners.

No financial details were disclosed and the transaction is slated to complete in March 2020.

Located in Arizona, Cadence is billed as one the premier early childhood educators in the US.

The group provides a proprietary curriculum to equip kindergarten and pre-school children with skills and experience before starting their next phase of schooling.

Its programmes enable pupils between the age of six weeks and 12 years to learn mathematics, reading and writing, as well as engage in social studies and science.

Cadence also plans and tests healthy menus to help children with their physical growth and educational performance.

The company serves families and students in more than 225 private preschools throughout a network of 40 brands, including its Cadence Academy division.

As a result of the purchase, Apax will be able to help support the target’s growth via strategic acquisitions and the expansion of its core operational activities.

The deal represents another addition to the buyer’s education portfolio, which already includes China’s Huayue Education and US-based Cengage Learning.

Nick Hartman, partner at Apax, said: “Cadence’s focus on children and parents delivers industry-leading customer satisfaction which, in combination with a highly-skilled team, positions the company for continued growth.”

Headquartered in London, the private equity firm has 220 employees across 7 offices in three continents.

Its portfolio includes investments in the healthcare, telecommunications and consumer categories.

According to Zephyr, the M&A database published by Bureau van Dijk, there were 646 deals targeting educational services providers signed off worldwide in 2019.

BGH Capital, via BGH BidCo, bought Australia-based Navitas for AUD 2.31 billion (USD 1.56 billion) in the largest of these.

TAL Education Group, Crisis Prevention Institute and Cognita Schools, among others, were also targeted in this sector last year.

© Zephus Ltd