Ekuinas exits Malaysia’s Tenby Education

Ekuinas, which invested MYR70 million ($19.1 million) in 2015, said the deal generated a multiple of 2.5x. It acquired a 70% stake in Tenby through its education platform ILMU Education Group, which is currently in the process of being divested. Earlier this month Ekuinas exited APIIT Education Group in a management buyout supported by KV Asia Capital.

Tenby was founded in 1960 and manages six schools in Malaysia, with over 5,000 students. A seventh campus is scheduled to open this year. The company aims to provide international-quality education across a range of subjects including science, mathematics, arts and humanities and physical education.

ISP operates 19 schools across Europe, North America, Central America and the Middle East, with 16,000 students from kindergarten to secondary level. Tenby represents the company’s entry into Southeast Asia.

“We are extremely pleased with our acquisition of Tenby. This demonstrates our ambition to grow our partnerships across different regions all over the world,” said Steve Brown, CEO of ISP. “Tenby schools are well-respected within their community. We look forward to making further investments and continuing to grow the schools to help children and students learn to levels that amaze them.”

Ekuinas was founded in 2009 with an initial endowment of MYR5 billion and a remit to support the next generation of leading Malaysian companies. According to its most recent annual report, the firm has committed a total of MYR3 billion across 53 investments.

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• Topics
• Southeast Asia
• Consumer
• Trade sale
• Malaysia
• Ekuinas
• Education
• Exit