Essential reading for education companies worldwide
Remember me:
Skip Navigation LinksEI article
Exclusive: QA preparing for £40-50m refinancing

The skills training business QA has confirmed it is about to refinance, EducationInvestor can reveal.
QA is one of the UK's leading providers of IT training courses, delivering programmes to more than 5,000 SME and corporate clients. Bregal Capital invested in the firm in 2007, since when it’s acquired rivals the Xpertise Group, Remarc Group and Aikona Management. 
Earlier this year Bregal was rumoured to be seeking a sale, but sources said that it would instead extract “£40 million to £50” million in cash from the business by introducing debt. 
The deal is not finalised but Bregal is "targeting completion in the next couple of weeks”, they said.
Bregal managing partner Edmund Lazarus would not confirm the quantum of debt , but said: "QA continues to perform strongly and as a result is generating substantial cash flows. This has made its balance sheet very conservative. As a result QA, working with its debt advisor Marlborough Partners, is considering a further refinancing.” 
This will be the second refinancing QA has done. Taken together, the two transactions should leave Bregal with twice what it initially invested in QA, without it having to sell any equity. It is understood that QA will not be aggressively re-geared.
According to Companies House, QA IQ Investments – a holding company for the group – had turnover of £123.1 million in 2013, up from £111.2 million in 2012. Operating profit stood at £14.7 million, up from £12.9 million.

Posted on: 24/09/2014

Latest news

China Online Education Group has announced a loss of ¥416.7 million (£47 million) for 2018, revenue up 35%, and and the appointment of a new brand spokesperson.
Rise Education Cayman has announced 2018 net income of ¥142.4 million (£16 million), compared to a net loss of ¥53.6 million reported for 2017.
Schools supply company School Specialty has announced a net loss of $38.7 million for 2018, compared to net income of $6.8 million reported in 2017.
Postsecondary education services provider Bridgepoint Education has announced net income of $4.6 million for 2018, down from $9.1 million reported for 2017.
American Public Education has announced net income of $25.6 million for 2018, up from $21.1 million reported in 2017.
Emerald Group, a learning and research resource provider, has snapped up UK-based skills training provider Mind Tools, which in February this publication exclusively reported was pursuing a sale.
Apse Capital, a London-based private equity firm, has purchased digital learning and development group Kallidus from FPE Capital, crystallising a transaction broken by EducationInvestor Global last October.
Bridgepoint, the private equity owner of English-language training firm Cambridge Education, has appointed Baird and Moelis as joint advisors to explore a carve-out of CATS Education, its university prep college.
China Gingko Education Group Company has listed on the Main Board of the Stock Exchange of Hong Kong, raising gross proceeds of HK$180 million (£17.5 million).
12/03/2019, an e-learning start-up with Ukrainian and Russian roots, has secured $1.5 million in a funding round led by Buran Venture Capital.

Global | Low-cost international schools

Recently published guidance from the European Parliament calling on member states to prevent aid funding from being spent on commercial educational initiatives could carry consequences for one low-cost private school chain in particular, writes Josh O'Neill

my images

Global | Education services

Google's services for education, most of which are free of charge, have grown exponentially over recent years, yet headteachers ignore them at their peril, Liz Sproat, the group's regional education head, tells Josh O'Neill