Navis to sell stake in Singapore's White Lodge Education

The buyer is a local construction and property firm called Chip Eng Seng Corporation that entered the education sector in April through a partnership with regional kindergarten player Repton International Schools. According to a release, the purchase price will be paid in cash.

Founded in 1999, White Lodge operates seven preschools in Singapore and two in Malaysia. It seeks to differentiate itself through an emphasis on children’s intellectual and emotional growth instead of a purely academic focus. Services also include an afternoon drop-off program, playgroups, and nursery classes.

Navis initially backed the company to complement an existing investment in Australia’s Guardian Early Learning, which the firm exited to Partners Group in 2016 at a post-deal valuation of A$440 million ($327 million). Navis had bought into Guardian from Wolseley Private Equity in 2013 at a valuation of A$120 million.

Further details regarding Navis’ investment in While Lodge remain unclear, including whether the 70% stake sale constitutes a full exit. The transaction with Chip Eng Seng is expected to be completed in the third quarter of 2018.

Other activity by Navis in the education space, includes investments in SEGi College Kuala Lumpur, one of the largest private higher education providers in Malaysia, and ITM Group of Institutions, which operates a network of business schools and professional education programs.

 

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• Topics
• Southeast Asia
• Consumer
• Exits
• Trade sale
• Singapore
• Navis Management
• Education