The first investment is the £22 million buy-out of Norwich-based Kingswood Educational Group, one of the UK’s leading providers of educational activity and adventure trips for schools. Founded in 1980, Kingswood operates 16 centres in the UK and one in France, which provide residential and day educational activity courses to primary and secondary school groups. The business provides these services to approximately 130,000 children per year from over 2,500 schools. It also operates a summer camp business trading under the Camp Beaumont brand name. Bowmark Capital provided £10 million of equity to finance the acquisition, with the balance provided by senior debt from Corporate & Structured Finance South team at The Royal Bank of Scotland.
At the same time, Bowmark announced the £6 million acquisition of Equity Limited by its portfolio company, The School Travel Group (“STG”). STG is one of the UK’s leading specialist school travel companies, and was acquired for £16 million in December last year. Bowmark provided £1.8 million of equity to finance STG’s acquisition of Equity, with the balance largely provided by senior debt, again from Corporate & Structured Finance South team at The Royal Bank of Scotland.
Bowmark has now invested a total of £18 million of equity in the school travel sector in the past eight months, in three transactions with a total enterprise value of £44 million.
Kingswood added new educational activity centres and merged with a complementary business to drive a 40% increase in capacity
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