Up Education Group receives NZ$540m funding injection
An education provider with campuses across both Australia and New Zealand has received a whopping NZ$540 million investment from a private equity investment firm.
Firm: Gilbert + Tobin (Pacific Equity Partners)
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
Deal: G+T has advised Pacific Equity Partners (PEP) as sponsor of Up Education Group, New Zealand’s largest private education provider, on its NZ$540 million financing.
Value: NZ$540 million
Area: Banking and finance
Key players: The G+T team was led by partner and head of banking and projects John Schembri and banking partner Spiro Papadolias and were supported by a team of lawyers comprising Corrie Eames, Sara Mohabbati and Charlie Wheatley.
Deal significance: G+T acted as lead legal counsel for PEP and Up Education Group, which have 30 campuses across Australia and New Zealand. The deal included a refinancing of Up Education’s existing senior debt facilities, as well as additional funding to complete the acquisition of two leading Australian vocational and higher education colleges. The facility commitments were provided by a syndicate of local and international lenders.
Commenting on the deal, the firm stated: “We are pleased to have advised our long-time client Pacific Equity Partners on this transformational financing. With the increased demand for investment in the education sector, Up Education’s financing highlights its commitment to expand its education services both domestically and abroad, and to solidify its offering as a global leader of educational services.”