BPP has been sold to private equity house TDR Capital, in what is the educational provider’s first change in ownership since 2009. BPP, which provides legal education and training, as well as courses in accountancy and finance, had been owned by Vanta Education, Inc., previously known as Apollo.
Founded in 1992, Apollo Global Management Inc. acquired BPP for £368m in 2009 and owned it through a period of radical change in which the institution eventually secured university status, though the process was not without turbulence. It was put in the market in the summer of 2019, although initially no buyers were found.
BPP’s new owners, TDR Capital, own a number of leading brands, most notably Asda. The deal was agreed last year for nearly £7bn with the Issa brothers, while TDR’s other brands include David Lloyd Leisure and a recent bid for Aggreko. Graham Gaddes, the CEO of BPP, said: “This is a significant vote of confidence not only in our business and our management team, but also its strategy and the long-term future of UK higher education and professional training.”
Source: The Lawyer
By Rachel Moloney
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