Wed, 26 Apr 2023 | BUSINESS NEWS
Melrose Education, a schools group backed by ICP Education, is targeting acquisitions of Special Education Needs (SEN) schools in England after securing growth capital from OakNorth Bank. The company says that, with the backing of the bespoke funding package, it expects to complete several acquisitions before the end of 2023.
The company, which was founded in 2021, currently has a portfolio of six SEN schools, providing over 330 places to children with SEN conditions. The firm’s portfolio includes Orchard Education, which is located across three sites in Cleethorpes and Grimsby. Its other schools include The Learning Centre and Break Through School in Kent, The Rowan School in Dudley and Highgate Hill House School in Devon.
Melrose’s expansion plans come amid an ongoing surge in M&A activity in the UK’s nursery and education sectors following the COVID-19 pandemic. Activity is being driven by both growth (much of it funded by private investment) and distress, as a significant number of operators struggle with workforce, capacity and financial issues.
Melrose Education Executive Chair and Chief Executive Tracey Storey commented: "Since our launch, my aspiration for Melrose has always been to provide outstanding opportunities for learning to all of our children, whilst creating one of the UK's leading independent Special Educational Needs providers.”
"Our priority is to positively change education outcomes for every one of our learners, with our senior management team, teaching and support staff all dedicated to achieving this meaningful goal with passion and experience.”
"Our latest bespoke funding package from OakNorth will help us drive forward our acquisition programme of leading SEN schools throughout all regions of England, and we expect to complete several of these acquisitions before the end of the year."
OakNorth Bank Director of Debt Finance Stuart Blair added: "With over 30 years of experience in the early years and education sectors, Tracey is one of the main figures within the industry and we’re delighted to be able to support her and Melrose once again. The demand for high-quality SEN schools is continuing to increase, further highlighting the importance of Melrose’s mission, vision and purpose."
Read more about M&A trends in the UK education sector.
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