UK Exponent Private Equity acquires Times Educational Supplement for £235mLondon-based buy-out firm Exponent Private Equity has acquired the TSL Education business from News International, the main UK subsidiary of the global media company News Corporation, for £235m in the first acquisition by Exponent's maiden 2004 Fund.
TSL publishes business-to-business newspapers, magazines and websites for the UK education market, including the Times Educational Supplement, the Times Higher Educational Supplement and smaller titles such as Nursery World. The Times Literary Supplement will not be part of the sale.
The company also provides classified advertising for job vacancies in UK schools, colleges and universities, and stages educational exhibitions.
Under the terms of the agreement News International will continue to print and distribute The Times Educational Supplement and The Times Higher Education Supplement.
Exponent, founded in August 2004, has a team of ten investment professionals. The firm raised £400m for its first fund, for investment in larger, more complex mid-market buy-outs of UK companies. The fund is ready to commit up to £100m of equity in any one transaction.
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