Thu, 13 Jun 2013 | BUSINESS SALE
Independent education provider Cambridge Education Group (CEG) has been placed on the market, the Education Investor has reported.
Private equity firm Palamon is seeking to sell off its holding in the business, with a deal likely to be worth more than £100 million.
Palamon aims to leave the business behind by the end of this year, though the sale is just in the initial stages.
Founded in 1952, CEG offers pre-university foundation programmes and English language training to about 2,500 students on the path to enter western universities.
It runs its courses from three campuses in Britain and one the US, and additionally offers on-campus foundation courses in partnership with six universities.
Students can undertake GCSEs, A levels and other pre-programmes in art and design, English language, computing, economics, law and life sciences amongst other subjects with CEG. Partner universities include Birkbeck, Goldsmiths, Queen Mary, Coventry and the Royal Veterinary College.
Palamon secured its controlling stake in CEG when it backed a £10 million management buyout in 2007. Since this time the educator’s revenues have quadrupled to £56 million for the year to August 2012, with its gross profits bulking up to £27 million from about £4 million.
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