Explore Learning acquired by Graphite Capital
After-school tuition company will re-invest ‘significant portion’ of sale proceeds
Private equity firm Graphite Capital has acquired a majority ownership of Explore Learning, a leading provider of private after-school tuition in the UK.
Explore Learning, founded by Bill Mills in 2000, specialises in teaching Maths and English to children aged between 5 and 14. Since opening its first centre in 2001 it has expanded to 62 centres across the UK and claims to have over 62,000 children currently enrolled as members. Graphite Capital's acquisition of the firm in a management buyout is backed by a group of investors including the Spectrum Venture Management Fund and Wittington Investments. It further expands the firm's presence in the education sector following its acquisitions of Teaching Personnel in 2010 and Protocol Education in 2011, and the management team has stated a significant portion of the sale proceeds will be re-invested in expansion of the business. Graphite senior partner Markus Golser said of the sale: “We were very impressed by Explore's culture and the proven operational ability of its management team, led by Bill Mills, an exceptionally talented chief executive. We see Explore as one of the most compelling investment opportunities in the fast growing education sector.”