TSL Education announces acquisition by TPG
TSL Education, the global digital education business is pleased to announce that it has entered into a definitive agreement to be acquired by TPG Capital LLP from Charterhouse Capital Partners for an undisclosed sum. The transaction is expected to close in the third quarter of 2013. The investment by TPG will enable the company to grow its considerable presence in the education sector and accelerate its online and off-line growth plans.
Louise Rogers CEO of TSL Education, said, "We are extremely excited to enter the next phase of our growth strategy with TPG and I am very proud of the whole team at TSL who have helped to transform our company into a Global Digital Education Business. TPG shares our vision to help drive up standards of education by putting TSL platforms into the hands of every teacher in the world. We are fortunate to have found a global partner who has extensive experience in digital and an impressive track record of growing similar businesses."
Karl Peterson, Managing Partner for TPG Capital LLP, said, "TSL is well known for its longstanding and vital role in the UK education sector. Over the past several years Louise and her team have done an outstanding job in transitioning the business to become the leading site for teachers both online and in print while gaining a sizeable and growing audience across the globe. TPG's global presence and extensive online experience fit well with the Company's ambitions and we anticipate accelerating growth through further investments in TSL's digital capabilities."
TSL's flagship platform TES Connect http://www.tesconnect.com is home to more than 620,000 teaching resources and connects a community of 52 million teachers and students across the globe. TES Connect is now the largest single-professional network in the world and up to 8 lesson plans are downloaded every second by teachers in 197 countries.
About TSL Education
TSL, headquartered in London and with offices in Washington DC, New Delhi and Sydney, exists to drive up standards of education by putting the right teachers in the right jobs and giving them the tools to be the very best that they can be. Teachers around the world are the single most important influence on a child's education and they need to access the very best content and resources to inspire their students. By pooling the vast knowledge, experience and creativity of teachers, and by giving them the ability to review and share the very best lesson content, TSL believes that the education system can be transformed for the better." http://www.tsleducation.com
TPG is a leading global private investment firm founded in 1992 with $56.7 billion of assets under management and offices in San Francisco, Fort Worth, Austin, Beijing, Chongqing, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, Paris, São Paulo, Shanghai, Singapore and Tokyo. TPG has extensive experience with global public and private investments executed through leveraged buyouts, recapitalizations, spinouts, growth investments, joint ventures and restructurings.
The firm seeks to invest in world-class franchises across a range of industries. Past and present Internet and media related investments include starting Hotwire.com (where Karl Peterson served as President/CEO), RentPath, SurveyMonkey, adknowledge, CAA, MicroGame and Saxo Bank. For more information please visit http://www.tpg.com
TSL Press Contact:
TPG Press Contact:
Pelham Bell Pottinger
SOURCE TSL Education