VSS Sells GL Education Group to Investcorp
Posted: March 19, 2012
London – Investcorp, the international investment firm, has announced today that it has acquired the GL Education Group, formerly the Granada Learning Group, from Veronis Suhler Stevenson, a private equity and debt capital firm focused on the information, education, media, marketing and business services industries in Europe and North America. The terms of the transaction were not disclosed.
The GL Education Group provides assessments and assessment services used by teachers to measure students’ core abilities and to take decisions about their learning paths. The company comprises two business units, GL Assessment and GL Performance, which, together, deliver to more than 15,000 schools the tools to help raise standards in children’s education.
Over the last 30 years, the company’s assessment division, GL Assessment, has been publishing tests and managing a range of assessment services for children aged between 3 – 19 years. Its assessments provide a complete picture of a child’s abilities, motivations and future learning behaviours via a portfolio of highly-respected psychometric assessments. One or more of GL Assessment’s tests are used by 85% of all UK Primary and Secondary schools.
GL Performance, the company’s school improvement division, supports schools in their performance management by providing services such as school self-evaluation and stakeholder surveys, data interpretation and analysis services, and other professional development support.
James Mahoney, Managing Director in Investcorp’s corporate investment team, said: “GL Education Group commands a leading competitive position in the UK ‘high-stakes’ education assessment market. It has built a portfolio of market leading products and benefits from high revenue visibility in a very stable market underpinned by increasing demand for assessment products and services. Rather than simply measuring attainment, its portfolio of assessment products allow schools to accurately measure pupils’ potential and monitor their progress in core skills development, as well as to identify specific learning impediments and disabilities. These capabilities are fundamental to higher performing schools and education systems globally.”
“The GL Education Group is one of the leading businesses in the high stakes education assessment market,” said Morgan Callagy, Partner at Veronis Suhler Stevenson. “VSS is pleased to have found Investcorp as the buyer for the GL Education Group. The business has grown profits more than threefold under VSS’s ownership. Given its leading market position in the UK, the business is poised for further growth in the UK and abroad; Investcorp are well positioned to take advantage of the future growth opportunities together with the Group.”
Adrian Eaglestone, Managing Director of GL Education Group, said: “Investcorp, with its track record of assisting its portfolio companies reach their potential internationally, is a highly complementary partner for us. We already work with over 100 countries worldwide and using Investcorp’s experience in this area, we will be able to expand our global presence, as well as further develop our products and services for the UK market. Our new company name, the GL Education Group, is designed to build on our GL Assessment and GL Performance divisions and will serve as a platform for future growth.”