Private equity platform ONCAP has announced it has reached an agreement to partner with ILAC, the largest private English language school in Canada with campuses in Toronto and Vancouver. The terms of the transaction are not being disclosed.
Expansion of ILAC’s business, via acquisition as well as organic growth, is now on the cards for the growth-focused Canadian company.
“This is a game-changer for our industry”
“ILAC offers a high-quality education focused on the student experience, classroom diversity and strong culture,” said Mark Gordon, a managing partner with ONCAP.
“Those core principles have led to terrific growth. We are excited to partner with the founders of ILAC to continue this growth, both organically and through acquisitions, in the years to come.”
“This is a game-changer for our industry,” added Jonathan Kolber, founder and co-president of ILAC.
“ONCAP’s impressive track record backing founder-owned businesses makes them an ideal partner for us.
“Together we will continue to be Canadian owned and operated with a focus on providing a first-class learning experience for our students, a wide variety of programs for our global partners and a great place to work for our committed teachers and staff,” he said.
The transaction is expected to close in the third quarter of 2019, subject to customary closing conditions and regulatory approvals.
Founded in 1997, ILAC serves approximately 20,000 students annually from more than 100 countries.
Programs include specialised English courses for adults and youth, university and college pathways, TOEFL/IELTS preparation and vocational college programs through ILAC International College.
Earlier in 2019, ILAC announced a partnership with Thompson Rivers University to deliver a custom pathway program.
