The sale of children's tuition centre firm Explore Learning could fetch as much as £50 million, EducationInvestor can reveal.
Final bids for the company were due in late June. The shortlisted bidders were understood to include three private equity firms and education giant Pearson.
Explore Learning was established in 2000, and now runs more than 60 tuition centres in locations such as shopping centres. Its classes offer low teacher to pupil ratios, and focus on key subjects such as English and Maths.
Last year the firm's turned over £15.2 million – a figure up 29% on its 2010 turnover of £11.8 million.
In the full year to 31 December 2011, the firm also made a post-tax profit of £1.4 million (2011: £957,000).
Explore’s current shareholders include Wittington Investments, Spectrum Venture Management and the Sutton Trust chair Sir Peter Lampl. They placed the firm on the market in the spring.
Corporate finance house Argyll Partners are managing the sale process.