Houlihan Lokey Advises BPP

Houlihan Lokey is pleased to announce that BPP, a portfolio company of TDR Capital, has acquired Estio Training. The transaction closed on 27 October 2021.

BPP is a global leader in professional and vocational education providing education and training in law, business, finance, accountancy, banking, technology, and nursing, both through relationships with corporates and directly to consumers across test preparation, university, apprenticeship, and professional development. BPP has a 45-year track record within the sector, with a leading education brand and established partnerships, providing education for more than 80,000 students each year and training and apprenticeship courses to c. 7,000 businesses.

Estio Training is the largest independent provider of IT and digital apprenticeships in the UK, with core programmes that include infrastructure technology, data analysis, digital marketing, and software. Estio Training offers programmes via an online learning platform, which is supported by offices located in Leeds, Manchester, and London, facilitating national delivery. Estio Training supports more than 1,200 apprentices per annum and works with clients across the private sector, schools, the NHS, and government bodies. Estio Training supports over 700 private sector clients such as Sky, Allianz, Santander, Virgin Money, and BAE Systems, amongst others.

Houlihan Lokey served as the exclusive financial advisor to BPP on its acquisition of Estio Training.

This transaction builds on Houlihan Lokey’s market-leading position in the education and training sector in general and the higher education, professional training, and apprenticeship market in particular, where the Houlihan Lokey deal team has advised on the disposals of BIMM to ICG, The College of Law to Montagu Equity*, and BPP Education Group to Apollo Global Education*, as well as the acquisitions of BPP by TDR Capital; The University of Law, Arden University, and LCCM by Global University Systems**; Corndel by THI Investments; and Lifetime Training by Silverfleet Capital. Other recent Houlihan Lokey transactions in the higher education and professional training sector include acting for Circus Street on its sale to QA; Skillsoft on its Chapter 11 restructuring and subsequent sale to Churchill Capital Corp II; EducationDynamics on its sale to Renovus Capital; Questionmark on its sale to Learnosity; Oakley Capital on its acquisition of Seagull; Kallidus on its sale to Apse Capital; Inflexion on its acquisitions of Times Higher Education and Calco; Atlas Knowledge on its sale to Mintra Group; and Primary Capital on its acquisition of ICS Learn.