Providence Equity Partners, through its portfolio company Nace Schools, bought Italy’s Kid’s Cot srl, a company managing an English-speaking kindergarden and a primary school in the center of Milan with the KC School brand (see here the press release).
In the deal Nace was supported by Giliberti Triscornia e Associati law firm, while KC School’s shareholder were advised by Bird & Bird law firm.
Thanks to this deal Providence Equity Partners strenghtens is presence in the education sector in Italy after having bought in 2011 the Istituto Marangoni, a very well know fashion and design schools. The seller had been US-listed Career Education Corporation (see here the press release).
Nace in turn had been bought by Providence last Febraury for a not disclosed sum but rumors are that the deal has been about 350 million euros worth. Nace operates in Spain, France, United Kingdom and India. Providence bought Nace from Magnum Capital private equity firm which in turn had bought the group in May 2014 from Baring Private Equity and Banco Popular for over 100 million euros.