The sale – subject to conditions, including the satisfaction of competition and regulatory bodies – will see students continue to be taught by existing college staff under Navitas ownership.
The pathway programs will continue to be recognised as qualification for admission to degree level study by each university, the company noted.
Taylors College Sydney provides a pathway to the University of Sydney, Taylors College Auckland to University of Auckland and the final school to University of Waikato. The deal means Study Group will no longer have dedicated pathway options in New Zealand or Australia as part of its portfolio.
“We are very excited about today’s announcement which consolidates our position as the region’s largest pathway provider,” Scott Jones, group CEO, Navitas said in a statement.
“Today’s announcement consolidates our position as the region’s largest pathway provider”
Navitas has 11 partnerships with universities in Australasia, including with University of Canterbury in New Zealand, as well as 15 in Europe and seven in North America.
“We very much look forward to welcoming these three colleges to the Navitas global community and working with these highly respected university partners to support their internationalisation strategies and ultimately increase access to higher education for international students.
“Our priority now is ensuring that the transition of ownership is as seamless as possible for the staff and students at the colleges.”
Study Group and Navitas added that their teams are working closely with university partners and other stakeholders to facilitate a “seamless transition” for current and future students.
Study Group partners with more than 50 universities worldwide. Private investment house Ardian acquired a majority stake in the education provider from asset manager Providence Equity Partners in 2019.
Study Group’s accounts up to December 31, 2021, show that total annual turnover in Australia stood at £1.6 million (down from £2.6m in 2020) and in New Zealand £179,000 (down from £229,000 in 2020). This is compared to £20.5m in the UK for 2021, a fall from £22.3m the year before.
Companies House also shows that previous CEO Emma Lancaster stepped down in 2022, but she remains a member of the Study Group board.