Ardian’s Acquisition of Study Group

Allen & Overy advised Ardian on the deal. Ropes & Gray is advising Bain Capital Credit and Intermediate Capital Group as lenders in connection with the financing of the acquisition

Ardian, a world-leading private investment house, announces it has reached an agreement to acquire a majority stake in Study Group, the leading provider of international education in the UK and Europe, Australia, New Zealand and North America, from Providence Equity Partners, a premier global asset management firm.

Each year, Study Group supports around 30,000 students from 142 countries on campuses spread across three continents. Study Group prepares international students, who wish to enter leading English-speaking universities, through educational courses that provide them with the academic, language and learning skills needed to succeed. Study Group is a market leader in the UK and in Australia, and partners with 48 prestigious universities.

A world leader, Study Group has the highest number of partner universities which fall within the Global Top 200 university ranking of the market. The International Education pathway market has grown by 15% p.a. in volume historically and is forecast to continue to grow double-digit in the years to come.

The A&O team is led by private equity partner Karan Dinamani, and associates Hayley Elsley, Will Hayward and Jenny Paramonova, with assistance from senior associate Chris Sabine, associates Thomas Maddin, Jamie Funder and Adarsh Chhabria. The A&O Banking team is led by Robin Harvey and senior associate Sarbajeet Nag, with support from associates Alex Bond and Kai Zhang. Australian law advice was provided by partner Jamie Palmer and associate Marlene Murphy. The US law team was led by senior counsel Beth Troy and associate Eliza Murray.

EY advised Ardian on the Tax Due Diligence with Karen Kirkwood, Michael Atkinson and Sachika Yamawaki.

Ropes & Gray advised Bain Capital Credit and Intermediate Capital Group with a team including Alex Robb,  Mark O’Connor and Jacob Bennett.

Involved fees earner: Alex Bond – Allen & Overy; Adarsh Chhabria – Allen & Overy; Karan Dinamani – Allen & Overy; Hayley Elsley – Allen & Overy; James Funder – Allen & Overy; Robin Harvey – Allen & Overy; William Hayward – Allen & Overy; Thomas Maddin – Allen & Overy; Marlene Murphy – Allen & Overy; Eliza Murray – Allen & Overy; Sarbajeet Nag – Allen & Overy; Jamie Palmer – Allen & Overy; Jenny Paramonova – Allen & Overy; Chris Sabine – Allen & Overy; Beth Troy – Allen & Overy; Kai Zhang – Allen & Overy; Michael Atkinson – EY Law; Karen Kirkwood – EY Law; Sachika Yamawaki – EY Law; Jacob Bennett – Ropes & Gray; Mark O’Connor – Ropes & Gray; Alexander Robb – Ropes & Gray;

Law Firms: Allen & Overy; EY Law; Ropes & Gray;

Clients: Ardian; Bain Capital; Intermediate Capital Group Plc;