Private equity behemoth KKR has signed a deal to acquire a majority stake in New Zealand- and Australia-based ed tech Education Perfect from buyout firm Five V Capital.

KKR will fund the deal using debt and capital from its Global Impact Fund, through which it also owns stakes in the UK’s Citation Group, Vietnam’s EQuest and India’s EuroKids Group.

Founded in 2007, Education Perfect provides students, parents, teachers and school leaders with data insights and tools that automate marking, feedback and assessment. The firm also offer “tens of thousands” of pre-built lesson plans. Education Perfect, which has offices in Australia, New Zealand, Singapore and Dubai, is used by more than 3,000 schools, 50,000 teachers and one million students in more than 50 countries worldwide.

KKR will leverage its experience investing in technology and education companies to support the management team’s vision to grow into a major ed tech business globally, it said, with a mission to improve education efficacy and outcomes. Five V Capital, which invested in Education Perfect in 2017, will remain invested alongside the firm’s management team and co-founders Craig and Shane Smith.

Chee-Wei Wong, Head of KKR Global Impact for Asia, said: “Education Perfect aligns with our focus on lifelong learning by democratising access to quality digital tools for teachers and students thereby driving inclusiveness in education. Its best-in-class platform combines quality content, formative assessments, student analytics and personalised learning, which support teachers day-to-day and help improve students’ learning efficacy.”

Macquarie Capital, PwC, Clifford Chance and Gilbert & Tobin acted as advisors on the transaction.

Date published: 23 June 2021

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