Pearson Purchases English-teaching Service
Navis Capital Partners sells PT Efficient English for $16.3 million
Pearson plc (NYSE: PSO), the London-based publisher of Penguin Books Ltd., spent $16.3 million for PT Efficient English Services, which operates Wall Street Institute in Indonesia, from Navis Capital Partners.
Navis Capital, a private equity firm based in Kuala Lumpur, Malaysia, established the service in 2007 through its funds Navis Asia Fund IV and Fund IV-S, with a $1.5 million investment.
PT Efficient English currently provides English-language training to more than 8,000 students in Indonesia.
The deal was announced on the heels of Pearson’s acquiring Author Solutions Inc. from Bertram Capital for $116 million on July 26.
Navis Capital has also been involved in recent dealmaking.
In May, the firm sold its majority stake in Trimco International Holdings Ltd., a label manufacturer for the garment industry, to Partners Group AG for $122.5 million.
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