Navis acquires Australian early education business

According to a statement, Modern Star's key senior management will remain as shareholders and continue to lead the business. The extra investment is to be used to help expand the company both organically and through acquisitions in order to build a leading position in a fragmented Australian market.

"Modern Star builds upon Navis' strong sector experience in education, joining Guardian Early Learning, SEGi University Group, Wall Street Institute and ITM Business School in the Navis portfolio," said Philip Latham, a senior partner of Navis, in a statement.

"The company's brands have a long and rich heritage that resonates with school teachers dating back to the 1960s and ee are looking forward to working with the management team to continue its strong earnings trajectory domestically and also opening up growth avenues in Southeast Asia, where Navis has deep experience," he added.

Navis invested in Guardian Early Learning, a leading Australian operator of childcare centers, in September 2013. Wolseley Private Equity, the seller, secured a 2.3x money multiple and a 40% IRR on an investment made two-and-a-half years earlier.

Navis manages about $5 billion in equity capital and has completed over 60 control transactions since its establishment in 1998.

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• Topics
• Australasia
• Buyouts
• Consumer
• Australia
• Education
• Navis Management
• buyout
• Consumer