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Up Education Group receives NZ$540m funding injection
An education provider with campuses across both Australia and New Zealand has received a whopping NZ$540 million investment from a private equity investment firm.
Lauren Croft
Firm: Gilbert + Tobin (Pacific Equity Partners)
Value: NZ$540 million
Area: Banking and finance
Key players: The G+T team was led by partner and head of banking and projects John Schembri and banking partner Spiro Papadolias and were supported by a team of lawyers comprising Corrie Eames, Sara Mohabbati and Charlie Wheatley.
Deal significance: G+T acted as lead legal counsel for PEP and Up Education Group, which have 30 campuses across Australia and New Zealand. The deal included a refinancing of Up Education’s existing senior debt facilities, as well as additional funding to complete the acquisition of two leading Australian vocational and higher education colleges. The facility commitments were provided by a syndicate of local and international lenders.
Commenting on the deal, the firm stated: “We are pleased to have advised our long-time client Pacific Equity Partners on this transformational financing. With the increased demand for investment in the education sector, Up Education’s financing highlights its commitment to expand its education services both domestically and abroad, and to solidify its offering as a global leader of educational services.”
Lauren Croft
Lauren is a journalist at Lawyers Weekly and graduated with a Bachelor of Journalism from Macleay College. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications and Travel Weekly. Originally born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. She is also a keen snowboarder and pre-pandemic, spent a season living in a French ski resort.
