UK private equity giant TDR Capital eyes £2.5bn price tag for training firm BPP

BRITISH private equity giant TDR Capital is reportedly planning a £2.5bn-plus sale of professional training course business BPP.

TDR has hired bankers from Houlihan Lokey and Morgan Stanley for an auction of BPP, The Sunday Times reported.

BPP, which was founded in 1976 runs courses for professionals, including lawyers and accountants.

Industry sources told the paper that they expected the bidding process to start after the summer, when investors will have insight into BPP's autumn intake, and that the business was likely to be sold to another private equity firm.

CVC Capital Partners, Permira and TPG are among private equity firms to have made large investments in the education industry in recent years.

TDR, Houlihan Lokey and Morgan Stanley declined to comment on a potential sale of BPP.

A sale in excess of £2.5bn would mark a hefty and quick return for TDR, which is understood to have purchased BPP for less than £700m in 2021.

(c) 2024 City A.M., source Newspaper