Baring-owned school operator Nord Anglia plans $200m IPO – report
Nord Anglia Education, an international schools operator owned by Baring Private Equity Asia, is reportedly preparing an IPO which could raise upwards of $200 million.
According to Reuters, Nord Anglia has hired Credit Suisse, Goldman Sachs and JP Morgan to manage the listing which could happen next year.
Baring Asia Private Equity Fund IV bought UK-listed Nord Anglia through a $379 million take-private transaction in 2008. At the time, the majority of the company's business was in Asia, with a high concentration in China. It has since more than tripled in size, entering other markets in Asia and Europe as well as creating a foothold in the Middle East.
The schools offer a British-style education, with most following a curriculum based on the UK model but adapted to suit local cultures and conditions.
Early in May, it completed the bolt-on acquisition of WCL Group for $222 million. The deal was intended to strengthen Nord Anglia's presence in North America and the Middle East, taking its footprint to 25 schools in 11 countries.
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