HONG KONG, March 3, 2017 /PRNewswire/ -- Nord Anglia
Education, Inc. (NYSE: NORD), the world's leading premium
schools organization, announced today that it has entered into two
separate agreements to acquire two international schools in
Europe and the Middle East.
In aggregate the two schools currently educate more than 4,400
full time equivalent students from age three to 18, with capacity
of over 4,800 seats. The combined consideration for the two schools
is expected to be approximately $147
million and is within Nord Anglia Education's targeted range
of 7-10x EBITDA for each school.
Nord Anglia Education expects both transactions to complete over
the next two months and will update its fiscal 2017 guidance and
provide further details on each of the schools when they
close. The acquisitions are subject to customary closing
conditions and Nord Anglia Education notes that there is no
assurance that the closing conditions will be satisfied.
Andrew Fitzmaurice, CEO
of Nord Anglia Education, commented, "We are pleased to
announce the anticipated expansion of our network with the addition
of these two leading international schools. Both schools are
recognised for their high quality educational offer and track
records of academic excellence. As part of our family, they will be
able to enhance the learning opportunities available to their
students and teachers through our innovative programmes, including
collaborations with The Juilliard
School and MIT. Nord Anglia Education continues to
have an active pipeline of excellent acquisition opportunities to
further expand our global network."
Upon completion, the addition of these two schools will expand
Nord Anglia Education's global network to a total of 45
international schools, providing an outstanding education to more
than 41,300 students in 16 countries.
Forward-Looking Statements
This press release includes statements that express our current
opinions, expectations, beliefs, plans, objectives, assumptions or
projections regarding future events or future results and therefore
are, or may be deemed to be, "forward looking statements".
These forward looking statements can generally be identified by the
use of forward-looking terminology, including the terms "believe,"
"expect," "may," "will," "should," "seek," "project,"
"approximately," "intend," "plan," "estimate" or "anticipate," or,
in each case, their negatives or other variations or comparable
terminology. These forward-looking statements include all
matters that are not historical facts.
By their nature, forward-looking statements relate to events
that involve risks and uncertainties or that depend on
circumstances that may or may not occur in the future. We
believe that these risks and uncertainties include, but are not
limited to, those under "Risk Factors" in our most recent Annual
Report on Form 20-F filed with the SEC.
Although we base these forward-looking statements on assumptions
that we believe are reasonable when made, we caution you that
forward-looking statements are not guarantees of future performance
and that our actual results of operations, financial condition,
liquidity, growth prospects, strategies and the development of the
industry in which we operate may differ materially from those made
in or suggested by the forward-looking statements contained in this
press release. In addition, even if our results of
operations, financial condition, liquidity, growth prospects,
strategies and the development of the industry in which we operate,
are consistent with the forward-looking statements contained in
this press release, those results or developments may not be
indicative of results or developments in subsequent periods.
Given these risks and uncertainties, you are cautioned not to place
undue reliance on these forward-looking statements. Any
forward-looking statement that we make in this press release speaks
only as of the date of such statement, and we undertake no
obligation to update any forward-looking statements or to publicly
announce the results of any revisions to any of those statements to
reflect future events or developments.
About Nord Anglia Education, Inc.
Nord Anglia Education (NYSE: NORD) is the world's leading
premium schools organization. Our 43 international schools are
located in China, Europe, the Middle
East, Southeast Asia and
North America. Together, they
educate more than 37,000 students from kindergarten through to the
end of secondary education. We are driven by one unifying
philosophy – we are ambitious of our students, our people and our
family of schools. Our schools deliver a high quality education
through a personalized approach enhanced with unique global
opportunities to enable every student to succeed. We primarily
operate in geographic markets with high foreign direct investment,
large expatriate populations and rising disposable income. We
believe that these factors contribute to high demand for premium
schools and strong growth in our business. Nord Anglia
Education is headquartered in Hong Kong SAR, China. Our website is
www.nordangliaeducation.com.
For further information, please contact:
Investors:
Vanessa
Cardonnel
Corporate Finance and Investor Relations Director – Nord Anglia
Education
Tel: +852 3951 1130
Email: vanessa.cardonnel@nordanglia.com
John Rouleau
Managing Director, Investor Relations – ICR
Tel: +1 203 682 8342
Email: john.rouleau@ircrinc.com
Media:
Sarah Doyle
Head of Brand – Nord Anglia Education
Tel: +852 3951 1144
Email: sarah.doyle@nordanglia.com
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SOURCE Nord Anglia Education, Inc.
