LDC backs management buyout of Tes Global’s Supply Agencies
23 Dec 2020
LDC really understands the importance of those values to our model and the investment provides a platform to further expand our network to meet the ever-challenging needs of teachers and schools across the country.”
David Bains, Investment Director at LDC in the Midlands, said: “We are backing a senior management team comprising former teachers and professionals with considerable industry experience. Their passion for the business and unwavering ‘education first’ approach really stood out for us as we’ve built a strong relationship with them over the past two years. We are looking forward to supporting the team’s growth strategy.”
Rod Williams, CEO at Tes Global, said: “We’re proud of our Supply Agencies and the progress they have made under their talented management team. The group of businesses has great potential to expand with the support of LDC. This transaction will free up resources for Tes Global to push our strategy to build a market-leading portfolio of online and software-enabled services for schools and teachers worldwide. We will continue to add digital innovations that make the professional lives of teachers and school leaders easier.”
LDC was advised by Grant Thornton (Corporate Finance, Debt Advisory and Commercial due diligence), BDO (Financial due diligence), Brown Jacobson (Legal), Baringa Partners (Operational due diligence), Westminster Advisors (Political due diligence) and Intechnica (IT due diligence).
Tes Global was advised by Houlihan Lokey (Corporate Finance) and Travers Smith (Legal), Deloitte (Financial due diligence) and PwC (Market due diligence).