Recent Deal

Soverign Capital Sale Of Alpha Plus To Delancey

Delancey, the specialist investment advisor, has acquired Alpha Plus Holdings Limited, one of the UK’s leading groups of independent schools, colleges and nurseries from Sovereign Capital, the UK buy & build private equity specialist, for an undisclosed amount.

Sovereign acquired Alpha Plus in 2002 in a £26m institutional buyout. At the time of the acquisition, Alpha Plus comprised 11 schools. Under Sovereign’s ownership, it has become one of the largest groups of independent schools in the UK, seeing a 44% increase in pupil numbers to circa 2,800 through both organic and acquisitive growth. Today the group consists of 17 schools, with a further two schools in development, covering the spectrum from nursery to 6th Form. Alpha Plus’ portfolio of schools includes some of the most prestigious names in the country including Wetherby Preparatory School, Pembridge Hall and Davies Laing and Dick College in London, and The Cliff School in Wakefield.

To support the highly regarded head teachers at the schools, Sovereign strengthened Alpha Plus’ senior management team by bringing in as CEO Paul Brett, a former teacher and strategic director of Serco plc’s educational business. Managing Director Azhar Mobin, also a former teacher and Head of Education at the Audit Commission, and Financial Director Roger Bird, a chartered accountant who was previously financial controller at Lidco Group plc.

Marriott Harrison acted for Paul Brett and the rest of the management team on the sale. Duncan Innes, corporate partner at Marriott Harrison, led the team on the disposal of the group and the re-investment by management in the Delancey managed Newco. Property aspects of the deal were led by Marriott Harrison property partner Vivienne Elson.