Founded in 1973, Apollo is the world's second largest for profit education company.Through its ownership of the University of Pheonix, Apollo Global Carnegie Learning, College for Financial Planning and the Institute for Professional Development, it has established itself as a leading provider of higher education programs for working adults by focusing on servicing the needs of the working adult.
Apollo Group has sold Manders Portman Woodward (“MPW”) to Levine Leichtman Capital Partners Inc. ("Levine Leichtman") for £54.8m. MPW is one of the UK’s best known independent for-profit sixth form college groups with colleges in London, Birmingham and Cambridge. MPW offers full-time GCSE courses, A-level courses and intensive A-level and GSCE retake and revision courses.
Apollo acquired MPW’s parent company BPP Holdings in 2009 for £368m. Apollo expects to record a £15.6m gain during the fourth quarter from the sale. MPW contributed less than 1% of Apollo’s earnings last year.
MPW recorded operating profits of £3.93m (2010: £3.06m) in the twelve months ending August 2011 on revenues of £14.1m (2010: £12.6m). Operating margins hit 27.8% in 2011 up from 24.2% in the previous year.
The £54.8m purchase price represented 13.9x EBIT (earnings before interest and tax) in 2011 and 18.3x reported post-tax profits in 2011. MPW operates its college in London from interconnected period properties in South Kensington. It is not clear whether the purchase price includes these freehold properties which may be worth in the region of £12m.All company news →
25 January 2016 - Equity Strategies is pleased to announce its lead role in the acquisition of INVE Aquaculture Holding B.V.
27 October 2015 - Equity Strategies advises Benchmark Holdings plc on the acquisition of two key players in the tilapia breeding and genetics sector.
19 March 2015 - Equity Strategies originates acquisition of leading veterinary CPD and training provider, Improve International on behalf of Benchmark Holdings plc.
02 March 2015 - Equity Strategies advised Benchmark Holdings plc on two strategic acquisitions in aquaculture breeding and genetics valued at £41m.
Deal origination - acquisitions - We help quoted companies and private equity houses source acquisitions in the UK and overseas.
Deal origination - disposals - We help owners of companies wishing to dispose of their business.
IPO advice - We provide strategic, financial and valuation advice to companies considering an IPO.
Valuation - We undertake valuations for ESOP transactions, employee share schemes and for a wide range of fiscal, legal and commercial purposes.
Our corporate finance skills can be employed in a wide range of sectors. We have a particular strength in animal health, education, outsourcing, IT, data analytics and financial publishing.More →