Mon, 23 Apr 2012 | BUSINESS SALE
Children’s tuition centre business Explore Learning has been placed on the market as its investors look for a new owner to support expansion overseas, the Sunday Times has reported.
Its shareholders include Sir Peter Ogden, the founder of Computacenter, and the wealthy Weston family. Backers also include philanthropist Sir Peter Lampi and the Guardian Media Group.
Advisory firm Argyll Partners has been brought in to manage the sale process.
The deal value has not been made clear, but is expected to sit in the tens of millions of pounds. It is predicted that revenues of about £20 million will be reported this year for the business.
Explore Learning was set up by Bill Mills in December 2000, with its first centre being opened at Chelmsford almost one year later. It has grown rapidly and now has over 60 branches, with an intention to open another 250 sites in Britain.
Teaching mainly English and Maths with a low teacher-to-pupil ratio, the centre’s work is geared towards supplementing children’s learning at school.
A note on the website states Mr Mill’s vision for the centres: “He believes that confidence, enthusiasm and independence are as important as academic progress to a child’s development.”
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