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Sovereign makes 5.5 times return on investment in UK schools group Alpha Plus Sovereign makes 5.5 times return on investment in UK schools group Alpha Plus

17 Dec 2007. Source: AltAssets.
UK lower mid-market private equity firm Sovereign Capital has realised its investment in UK independent school group Alpha Plus Holdings through a sale to investment advisor Delancey.

The price of the transaction was not disclosed but the firm said that the exit had returned 5.5 times the capital invested, representing an IRR of 53 per cent.

Sovereign acquired Alpha Plus in 2002 in a £26m institutional buy-out. At the time of the acquisition, Alpha Plus comprised 11 schools. Now the group consists of 17 schools, with a further two schools in development, covering the spectrum from nursery to 6th Form.

Alpha Plus's portfolio of schools includes The Wetherby Preparatory School, Pembridge Hall and Davies Laing and Dick College in London and The Cliff School in Wakefield.

This is the fifth exit from Sovereign's first fund, Sovereign Capital Partners I. Earlier this year, the firm realised its investment in veterinary services consolidator CVS Group through the flotation of the company on AIM.

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