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Baring-backed Nord Anglia to acquire rival WCL from Sovereign Capital

29 Apr 2013

schoolPrivate equity-backed school specialist Nord Anglia Education is reportedly close to taking over WCL Group from Sovereign Capital.

A deal could be announced as soon as this week, said the Daily Telegraph.

Nord Anglia, which is owned by Barings Private Equity Asia, had to compete with several other private equity bidders including Carlyle, Investcorp and Providence Equity Partners.

The deal will add 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.

Since being bought out by Sovereign in 2008 WCL has expanded by buying International College Spain.

Baring’s recent deals include the acquisition of a further interest in Indian gold loan company Manappuram Finance.

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