- GL Education, based in London, is a provider of formative educational assessments
- The transaction is likely to be completed by the end of the first quarter of 2023.
- LLCP is a middle-market private equity firm based in Beverly Hills with $8.6bn assets under management
Levine Leichtman Capital Partners (LLCP) has agreed to sell its portfolio company GL Education to Renaissance, a Blackstone Group and Francisco Partners portfolio company. No financial details of the transaction were disclosed.
GL Education is a provider of formative educational assessments that provide teachers tools to measure student ability and progress in order to raise educational standards and academic outcomes. The firm is based in London.
The transaction is likely to be completed by the end of the first quarter of 2023.
This will be LLCP’s sixteenth exit since March 2020.
LLCP first invested in GL Education in 2016.
“Under our ownership the company executed several value creation initiatives, including international expansion, strong growth of multi-product solutions, enhanced product development and a successful M&A strategy,“ said Andrew Schwartz, partner of LLCP.
LLCP is a middle-market private equity firm based in Beverly Hills, US. The firm has $8.6 billion of assets under management. It has offices in Los Angeles, New York, Chicago, Charlotte, Miami, London, Stockholm, The Hague and Frankfurt.
Renaissance is a Wisconsin, US-based provider of technology-based school improvement and student assessment programs for pre-kindergarten through to senior high schools and districts.
Baird and Willkie Farr & Gallagher served as advisors to LLCP and GL Education on the transaction.