Charme Capital Partners and Livingbridge are selling their majority stake in Cumbria-based children’s education and care provider Witherslack Group to Mubadala Capital, Unquote has reported. Both vendors are retaining minority stakes in the company.
Livingbridge acquired a majority stake in Witherslack (then known as James Bowers Education) in 2011, investing £20 million. Charme invested in Witherslack in 2017.
Founded in 1996 Witherslack operates 25 schools and care homes for children and young people in the UK with special educational needs (SEN), providing private care in partnership with SEN professionals and local authorities.
Advisors for the vendors on the deal were PwC (corporate finance ), Macfarlanes (legal), L.E.K. (commercial due diligence) and Deloitte (financial due diligence and tax). Management was advised by CMS (legal).
Date published: August 20, 2021