Deal: For Purpose Investment Partners (FPIP) has acquired Catalyst Education from Anacacia Capital.

Value: Undisclosed.

Area: M&A.

Key players: The legal team advising FPIP was led by Gilbert + Tobin corporate advisory partner Tim Gordon, with support from corporate advisory lawyers Sam Jaffray and Emily Fanning. Darren Fittler, head of Gilbert + Tobin’s charities and social sector group advised on the structuring, governance and charity elements.

Banking and infrastructure partner Spiro Papadolias, with support from lawyers Felix Buddee and Lee Lancaster, advised on all financing elements of the transaction, including the bespoke secured social loan notes issued to fund the acquisition and provide ongoing working capital support.

Deal significance: Not-for-profit FPIP makes investments that generate positive health, education, social or public welfare outcomes in addition to strong financial returns, according to a statement from Gilbert + Tobin.

Meanwhile, the firm noted, Catalyst Education provides compassion-focused vocational education across early childhood education and care, aged care and disability care. Further, it operates registered training organisations Selmar Institute of Education, Practical Outcomes and Royal College of Healthcare.

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“This is one of the best deals we’ve been involved in,” said lead partner Mr Gordon.

“We were excited to advise FPIP on this transaction and play a small part in their mission to unlock the possibilities of large-scale impact investing.

“The Covid crisis brought home the importance of quality, affordable childcare while the final report of the Aged Care Royal Commission showed the desperate need that is developing for aged care workers with excellent training. If Australia is going to be a fair and compassionate society in the decades ahead, we’re going to have to find new ways of tackling these issues.

“This deal ticks so many boxes by aligning patient, long-term capital with a top provider in these sectors of profound importance.”