Navis exits Indonesia education business to Pearson

The private equity firm originally invested in WSI in 2006 via the $324 million Navis Asia Fund IV and its supplementary vehicle, taking a 75% stake. At the time, the franchise was limited to Thailand, where it now operates three English-language schools in Bangkok as well as four corporate centers, serving approximately 5,000 students.

Navis took the business into Indonesia in 2007, making a greenfield investment of about $1.5 million. The local operation, run by Efficient English Services, currently provides English-language training to more than 8,000 students. Navis later acquired the WSI franchisee in Hong Kong, but neither this nor the Thailand business is included in the Pearson deal.

Pearson might be seen as a logical buyer for the asset, given its past interest in WSI operations in Asia. In 2009, the UK-based group paid WSI International, a portfolio company of The Carlyle Group, RMB990.6 million (then $145 million) for the WSI China business. The acquisition added 39 training centers in seven cities to Pearson's existing network of 27 schools in Beijing and Shanghai operated under the Longman brand.

This is Navis' fifth exit in the last eight months, and the second involving a company with substantial Indonesian exposure, following the sale of King's Safetywear in December 2011. In the past fortnight, the private equity firm has also exited two India-based assets: call center business Andromeda Sales & Distribution, and restaurant chain Nirula's Corner House.

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• Topics
• Consumer
• Exits
• Southeast Asia
• Consumer
• Southeast Asia
• Navis Management
• Exit
• Trade sale
• Indonesia