UK College of Law sold to private equity firm
The College of Law in the UK has been sold to Montagu Private Equity for £200 million, with the proceeds to be paid into a newly-founded Legal Education Foundation, which will fund student scholarships, bursaries and grants. comments powered by Disqus
The deal gives Montagu the power to award degrees, a platform for course offerings, and the chance to negotiate lucrative exclusive deals with major law firms.
As RollonFriday points out, there are a number of important questions that have yet to be answered, including
*What kind of equity packages will be awarded to Chief Executive Nigel Savage and the management board?
*What will happen to the College's major property portfolio (worth, according to the institution's 2010 accounts, £65 million)
*How will Montagu exit the deal in the traditional PE 5-10 year investment window?