Global alternative asset manager Intermediate Capital Group has acquired the British and Irish Modern Music Institute (BIMM) from middle-market private equity investor Sovereign Capital Partners in a transaction that closed last Friday.
The probability of the sale was first flagged exclusively in July by EducationInvestor Global.
BIMM provides creative arts education and has 12 colleges across Europe, including sites in London, Brighton, Bristol, Dublin, Birmingham, Manchester, Berlin and Hamburg, and caters to more than 8,200 students.
The company offers higher education degrees and further education courses in modern music, performing arts, and filmmaking, and its alumni include Ella Mai, George Ezra, Mercy Sotire, and James Bay.
Investment bank Houlihan Lokey advised Sovereign Capital Partners on the transaction.
ICG was advised by DC Advisory.
Date published: 24 November 2020