UK-based Cambridge Education Group has been sold to a US-based private equity firm, Bridgepoint Capital, it was announced today, for an enterprise value of UK£185 million. Ex-owners, Palamon Capital, acquired CEG in 2007 and achieved an acquisition multiple of 11 times the current year trading forecast.
Education giant Pearson has made a major acquisition in Brazil of an ELT business that spans several brands and serves 800,000 students. The acquisition of Grupo Multi for UK£500m will enable Pearson to leverage booming demand for ELT from the expanding middle classes, it said.
These students who will in the future run the world – would you want them to spend 75% of their undergraduate years in a secluded bubble? I want my future president to have lived and seen the world with people from other cultures.
Concern over the rapidly growing enrolment activities of some private education providers in the UK – and a tripling in expenditure on student maintenance grants and tuition fee loans – has prompted David Willetts to ask 23 private operators to immediately halt further recruitment of UK/EU students onto HND and HNC certificate programmes.
Two employees of Study Group were killed on Sunday when the aircraft that they were travelling in crashed at Kazan airport in Russia. All 44 passengers and six crew died in the impact, including Donna Bull, A-level programmes manager at Bellerby's College in Cambridge and colleague Yana Baranova, based in Russia.
A US study abroad company with offices in Tacloban, the Philippines, is coordinating direct on-the-ground relief in the wake of the strongest tropical cyclone ever to make landfall, Typhoon Haiyan. GoAbroad.com founder, Troy Peden, has been helping people leave the area and bring in food and medical supplies.