Times Higher Education?has been sold to private equity firm Inflexion, becoming a stand-alone business for the first time.
The deal follows?91ÇÑ×Ó¡¯s carve-out from its parent company TES Global, and chief executive Trevor Barratt said that it would facilitate a new phase of development and growth.
It also secured the company¡¯s ¡°continued independence¡± as a trusted provider of data,?news and analysis, and events for global higher education, he said.
91ÇÑ×Ó?was previously owned by US-based TPG Capital, and along with its long-time stable partner?Tes has been owned by a series of private equity firms since 2005.
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Inflexion is a leading London-based private equity firm, whose portfolio of companies includes Chambers and Partners, provider of data, rankings and practice guides for the legal sector.
Mr Barratt, who has been CEO of?91ÇÑ×Ó?since 2014, said: ¡°Securing an owner that wholly respects our core mission has been extremely important to the whole team here ¨C I know we¡¯ve achieved that. ?
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¡°91ÇÑ×Ó?is at an exciting stage in its development and the team has achieved unprecedented global growth over the past two years. Importantly, we¡¯ve done this without compromising on our independence, the standard of work for which we¡¯re known, or the values that drive us, and that won¡¯t change.
¡°Already, Inflexion has demonstrated a deep respect for our dedication to serving the global higher education community ¨C the sale means we progress with continued independence, and with an owner exceptionally well placed to help us build on our successes across each area of our work.¡±
Inflexion said it was looking forward to working with °Õ±á·¡¡¯²õ management team to further develop its work helping universities to improve their performance, as well as attract students, recruit academic talent and secure funding. This would include a focus on ¡°enhancing the company¡¯s digital offering and continuing the expansion into new international markets,¡± it said in a press statement.
Simon Turner, managing partner at Inflexion, said: ¡°Times Higher Education has an excellent brand and an exceptionally driven management team.
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¡°By carving the business out, we can firmly focus on building its core strengths, namely through enhancing its digital presence and continuing its global expansion, particularly in the US and Asia.
¡°We look forward to working with management to build upon the strong foundations they¡¯ve created.¡±
The deal encompasses 91ÇÑ×Ó¡¯s wide range of activities including its data, editorial, summits, hiring, branding and consultancy services. The sale follows a period of significant growth, in which?91ÇÑ×Ó?has transitioned from being a primarily UK-focused media?company to a global data and insights business working with around 700 universities across the world.
Tes?has been sold separately to private equity firm Providence Equity Partners.
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