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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.

user iconLauren Croft 10 August 2022 Big Law
Up Education Group receives NZ$540m funding injection
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Firm: Gilbert + Tobin (Pacific Equity Partners)

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.

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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.”

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