CITIC Capital buys control of Chinese education player

The terms of the transaction were not disclosed but the investment was made via the firm's second buyout fund - CITIC Capital China Partners II, which closed at $925 million in 2010.

Set up in 2004, Shanghai-based Study & Share claims to be the largest player in the test preparation and vocational training space for China's construction sector. The business currently operates more than 40 learning or student recruitment centers across tier-one and tier-two cities, including Shanghai, Hangzhou, Nanjing, Chongqing, Tianjing, Guangzhou and Chengdu.

"Study & Share has successfully established itself as a leading player in a highly fragmented market," said Yichen Zhang, chairman and CEO of CITIC Capital Holdings - CITIC Capital Partners' parent - in a statement. "We are confident that our partnership with management will further strengthen Study & Share's leadership as well as expand its footprint across China."

The construction sector accounts for the largest segment within the professional qualification test market. Driven by the sector's increasing enforcement of certification requirements, the test preparation training market for construction professionals is expected to grow at 10-15% a year over the next five years.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Buyouts
• Greater China
• Education
• buyout
• CITIC Capital
• CITIC Capital Partners
• China