EQT Credit, through its mid-market credit investment strategy, has provided €115 million of term loan financing for Inspired to support further acquisitions planned by the schools provider.
A source close to the matter confirmed that the transaction is the largest completed by EQT Credit to date, when taken together with previous capital support provided by the firm to Inspired’s shareholders.
Inspired is a global operator of 30 premium schools in Europe, Australia, Africa, the Middle East and Latin America. The company has grown by building new schools and acquiring successful ones and now educates 24,000 students between the ages of 1 and 18.
The firm was founded by chairman Nadim Nsouli, who was previously a partner at private equity firm Providence Equity Partners. Shareholders include private equity firms TA Associates and Oakley Capital, investment bank Genesis Capital, the Oppenheimer family, Egyptian conglomerate Mansour Group, and Graeme Crawford, who founded independent schools group Reddam House.
Nakul Sarin, a director at EQT Credit, said the deal was assisted by EQT’s “differentiated approach to due diligence, with access to senior executives [through the firm’s industry advisor network] who know the education sector well”.
Mid-market credit is one of three strategies run by EQT Credit, the others being senior debt and credit opportunities. Towards the end of last year, it closed its third credit opportunities fund on €1.3 billion.