- 3 May 2017 6:00 AM
In aggregate the two schools currently educate more than 4,400 full time equivalent students from age three to 18, with capacity of over 4,800 seats. The combined consideration for the two schools is expected to be approximately USD 147 million and is within Nord Anglia Education's targeted range of 7-10x EBITDA for each school.
Nord Anglia Education expects both transactions to complete over the next two months and will update its fiscal 2017 guidance and provide further details on each of the schools when they close. The acquisitions are subject to customary closing conditions and Nord Anglia Education notes that there is no assurance that the closing conditions will be satisfied.
Andrew Fitzmaurice, CEO of Nord Anglia Education, commented, "We are pleased to announce the anticipated expansion of our network with the addition of these two leading international schools. Both schools are recognised for their high quality educational offer and track records of academic excellence.
As part of our family, they will be able to enhance the learning opportunities available to their students and teachers through our innovative programmes, including collaborations with The Juilliard School and MIT. Nord Anglia Education continues to have an active pipeline of excellent acquisition opportunities to further expand our global network."
Upon completion, the addition of these two schools will expand Nord Anglia Education's global network to a total of 45 international schools, providing an outstanding education to more than 41,300 students in 16 countries.