Juniper Education, a Horizon Capital-backed education software company, has undertaken a significant refinancing with debt provider Muzinich & Co, joining existing lender Clydesdale Bank, to bolster its acquisition chest to £60 million.
The Chelmsford, Essex-based company stated that the funds will help consolidate the company’s position in the fragmented schools software market and enable product development and further acquisitions.
Juniper was formed in June 2019 backed by a £20 million equity commitment from Horizon Capital and has expanded through organic growth and acquisitions. The company says it expects to continue its buy-and-build strategy while also investing in innovation and software development.
Gavin Freed, chairman of Juniper Education, said: “Our goal is to make life easier for schools and multi-academy trusts by giving them first-rate software and solutions from a specialist education only provider with a pedigree they can trust. We have more plans for strategic acquisitions this year, so with this new financial firepower we are in a great position to achieve our ambition.”
John Clifford, co-head UK private debt at Muzinich & Co added: “Juniper Education is a progressive company with exciting plans to support schools in their pursuit of advancement and we’re looking forward to helping them enhance and achieve their growth plans.”
Simon Hitchcock, managing partner at Horizon Capital, said: “The acquisitions Juniper Education has made in the past 12 months have provided a strong foundation to establish the company as a leading software provider in the education market. This additional funding is an exciting development for the organisation and we look forward to continuing to support the management team’s ambitious growth plans.”
Clearwater International advised Juniper Education on the transaction.
Date published: 11 January 2021