The private equity giant behind Asda and David Lloyd Leisure is seeking a blockbuster sale of the UK-based professional training course business BPP for more than £2.5 billion.
TDR Capital has appointed bankers from Houlihan Lokey and Morgan Stanley to kick off an auction for BPP, which runs courses for lawyers, accountants and other professionals.
Industry sources expect the process to start after the summer, when investors will have better sight of BPP’s autumn intake of students, and that a sale to another private equity buyer looks likely. CVC, Permira and TPG have all made large investments in the education sector in recent years.
If TDR’s advisers can secure a deal of more than £2.5 billion it would mark a handsome and fast return for