We are delighted to have advised Broadway Education Limited on the sale of St. Michael’s School and Bosworth Independent College to Bright Scholar Education.
St. Michael’s School is an established independent school located in Llanelli, Wales, offering day and boarding education to over 450 students from age 3 to 18. Established in 1923, the school offers a strong academic education, being named Welsh Independent Secondary School of the year in 2019 in The Sunday Times Parent Power rankings and the school is regularly ranked in the UK’s top 30 Independent Schools for A level results.
Bosworth Independent College, established in 1977, is a leading independent boarding college located in Northampton, educating students from 13 to 19 years of age. In 2018, it was ranked in the UK’s Top 100 Coeducational Boarding Schools by A Level results. The school has more than 300 students, including more than 200 boarders from 39 countries.
In late 2018, we were approached by Broadway Education, a family schools group to explore a sale process of St. Michael’s School and Bosworth Independent College from the group.
Our team provided a total service solution to Broadway Education, through lead advisory, SPA advisory, transaction tax, VAT and financial accounting advisory services to the group as part of the transaction.
We introduced an international buyer with substantial experience and funds to grow the schools to their full potential.
Bright Scholar Education is the largest operator of bilingual and international schools in China, educating over 42,000 children across the world. Listed on the New York Stock Exchange in 2017, this acquisition significantly increases their presence in the UK.
Our K-12 sector knowledge, experience and network of buyers drove a competitive auction process that crucially safeguarded confidentiality and delivered a successful outcome for the shareholders whilst securing an exciting home for both schools.
Grant Thornton have delivered a result exceeding our expectations, their support and guidance throughout the journey was invaluable. They understand schools, how they operate and the quirks of our world. The outcome is testament to their experience, network and negotiation skills. They ran a sales process coordinating a range of services that brought the right buyers to the table that will allow St. Michael’s and Bosworth to continue to flourish. Thank you for your advice and dedication.Mark Broadway CEO, Broadway Education
St. Michael’s School and Bosworth Independent College are great additions to Bright Scholar’s expanding portfolio of overseas K-12 schools. The acquisition is another important step as Bright Scholar continues to build a global network of premium schools, which will unlock tremendous opportunities for teachers and students through our global platform.Jerry He Executive Vice Chairman, Bright Scholar