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August Equity Partners III inks first investment with Minerva Education deal

10 Jul 2013

UK mid-market private equity firm August Equity has inked the first investment from its third fund by backing independent school operator Minerva Education.

Minerva comprises Eaton Square School Group and Ravenstone School. Eaton Square currently has over 650 pupils on roll, while Ravenstone offers pre-prep and prep education in London.

Aatif Hassan, partner of August Equity, said, “We are delighted to complete our first investment in the education sector and particularly to do so with the investment in Minerva, which is a highly regarded schools group in London with a reputation for its pupils attaining outstanding results.

“We have tracked the progress of ESS and Ravenstone for a number of years which enabled us to complete an off-market transaction.

“We look forward to working with the management team to develop the schools and ultimately create a market-leading education provider.”

August Equity managing partner, Philip Rattle, added, “The backing of Minerva signifies the first investment in our new fund [August Equity Partners III ] which will continue our successful strategy of investing £10m to – £30m equity in investments in the health, care, pharma, technology services and education sectors.

“We have a strong pipeline of investment opportunities which will be announced in the coming months.”

August currently has a portfolio of private company investments including Accura, Active Assistance, Aspirations, Boat, Compass, FSP, Independent Vetcare, Rixonway and SecureData.

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