Onex Corp. through Onex Partners V, $7.2 billion fund, has acquired Tes Global, an education technology services provider, from Providence Equity Partners LLC.
Tes is an international provider of software services for the education sector. The firm powers schools and enables teaching worldwide through its intelligent online products and services. The firm hosts over 13 million teachers on its platform across 17,000 schools in 117 countries. In addition, the firm provides teachers with professional development training.
“Tes has a well-established brand and deep-rooted relationships with teachers, creating an unparalleled and highly differentiated place in the market,”said Nigel Wright, a senior managing director at Onex. “We were attracted to its focus of helping both teachers and school administrators deliver better educational outcomes for students in the UK and around the world.”
“Onex has a wealth of experience and an impressive track record of helping the companies it partners with to grow and thrive,”stated Rod Williams, CEO of Tes. “We’re delighted to have found another team whose values are aligned with our vision for the Company and are committed to our future.”
Onex was advised by Rothschild & Co. as financial advisors and Latham & Watkins LLP as legal counsel. Tes was advised by Arma Partners and Morgan Stanley & Co. International plc as financial advisors and by Weil, Gotshal & Manges as legal counsel.