Mon, 05 Mar 2012 | BUSINESS SALE
Granada Learning, one of the UK’s main providers of tests in schools, has been put on the market for a price in the region of £50 million to £70 million.
Its owner, American private equity firm Veronis Suhler Stevenson (VSS), is understood to have brought in corporate adviser Hawkpoint to manage the auction process, the Times has reported.
The firm manages student tests for about two-thirds of all UK schools. It also offers assessments, surveys, self-evaluation systems and professional development services, according to its website.
Granada Learning Group has two divisions: GL assessment, which runs tests for schools and mental health and well being, such as CAT and YARC; and GL performance, which focuses on school improvement. Its products include Kirkland Rowell Surveys and Schoolscentre.
VSS had previously tried to sell Granada Learning in 2008 in the grip of the credit crunch, but had to pull the sale, as offers did not match its expectations.
ITV sold Granada Learning to VSS in 2006 for about £50 million. VSS subsequently sold the Letts and Leckie & Leckie revision guides to publisher Huveaux in a deal worth £12 million.
Pearson had been approached as a possible buyer, but was not interested in the sale. It is thought a private equity firm is highly likely to take up the business.
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