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Transactions / T•• G•••••

P••••••••• Agrees to Sell T•• G••••• to O••• Partners

Exit to a strategic buyerannouncedannounced Dec 7, 2021Fact
What happened
Target
T•• G•••••
Platform
not an add-on on record
Control
unknown
Share acquired
unknown
Industry
education / school
Target location
unknown
Seller kind
Sponsor
Rollover
unknown
Values, only where disclosed
Enterprise value
Not disclosed
Purchase price
Not disclosed
Equity value
Not disclosed
Target revenue
Not disclosed
Target EBITDA
Not disclosed
Multiple
Not disclosed
Parties and roles
9 named
Buy side
  • O••• P••••••• V•Strategic acquirerconfirmed
    “Toronto, ON, and London, England – December 7, 2021 – O••• Corporation (“O•••”) (TSX: ONEX) today announced that O••• P••••••• V•, O•••’ $7.2 billion fund, has agreed to acquire T•• G••••• (“Tes” or the “Company”), a leading education technology services provider, from P••••••••• E••••• P••••••• L••”
  • A••••• A•••• T••••••Deal partnerconfirmed
    “A••••• T••••••, Senior Managing Director at P•••••••••, said: “We are honored to have partnered with Tes and help the Company accelerate its mission of providing world-class tools to drive high quality education.”
Sell side
  • P••••••••• E••••• P••••••• L•••••Sellerconfirmed
    “Toronto, ON, and London, England – December 7, 2021 – O••• Corporation (“O•••”) (TSX: ONEX) today announced that O••• P••••••• V•, O•••’ $7.2 billion fund, has agreed to acquire T•• G••••• (“Tes” or the “Company”), a leading education technology services provider, from P••••••••• E••••• P••••••• L••”
Advisory side
  • F••• A•••••Buy-side adviserconfirmed
    “O••• was advised by Rothschild & Co. as financial advisors and Latham & Watkins LLP as legal counsel.”
  • A••• P•••••••Sell-side adviserconfirmed
    “Tes was advised by A••• P••••••• and M••••• S•••••• & Co. International plc (“M••••• S••••••”) as financial advisors and by Weil, Gotshal & Manges as legal counsel.”
  • M••••• S•••••• • C•• L••Sell-side adviserconfirmed
    “Tes was advised by A••• P••••••• and M••••• S•••••• & Co. International plc (“M••••• S••••••”) as financial advisors and by Weil, Gotshal & Manges as legal counsel.”
Side not stated
  • R•• W•••••••Managementconfirmed
    “We’re delighted to have found another team whose values are aligned with our vision for the Company and are committed to our future,” stated R•• W•••••••, Chief Executive Officer of Tes.”
  • N•••• W•••••Managementconfirmed
    “We were attracted to its focus of helping both teachers and school administrators deliver better educational outcomes for students in the UK and around the world,” said N•••• W•••••, a Senior Managing Director at O•••.”
  • T•• G•••••Targetconfirmed
    “Toronto, ON, and London, England – December 7, 2021 – O••• Corporation (“O•••”) (TSX: ONEX) today announced that O••• P••••••• V•, O•••’ $7.2 billion fund, has agreed to acquire T•• G••••• (“Tes” or the “Company”), a leading education technology services provider, from P••••••••• E••••• P••••••• L••”
Evidence
“Toronto, ON, and London, England – December 7, 2021 – O••• Corporation (“O•••”) (TSX: ONEX) today announced that O••• P••••••• V•, O•••’ $7.2 billion fund, has agreed to acquire T•• G••••• (“Tes” or the “Company”), a leading education technology services provider, from P••••••••• E••••• P••••••• L••••• (“P•••••••••”), a premier private equity firm that specializes in growth-oriented investments in media, communications, education and technology.”
Press release wires (PR Newswire, GlobeNewswire, Business Wire public pages and RSS)confidence 80%recorded Sep 14, 2026
P••••••••• Agrees to Sell T•• G••••• to O••• Partners | Private Equity Intelligence | DFX