Baring Private Equity Asia-backed school specialist Nord Anglia Education has filed to raise up to $300m through an IPO on the New York Stock Exchange.
The Hong Kong-based business was bought by Baring in a $360m deal in 2008, and was expanded last May through the purchase of Sovereign Capital-owned WCL Group for $237m.
That deal added WCL’s nine schools in the US, Qatar and Spain to Nord Anglia’s existing portfolio of 14 schools in Asia, Europe and the Middle East.
The company has since expanded to 27 schools with reported revenue of $415m and loss of $16m for the year ending August 31 according to Reuters.
Hony is in talks to invest in an equity tranche of up to $500m to partly fund the acquisition, said Reuters, citing two people with knowledge of the matter.
Copyright © 2014 AltAssets