Deal Details

Sale of HB Education to Midlothian Capital Partners

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Summary

About

Cox & Kings Limited (“C&K”) (BSE: 533144 | NSE: COX&KINGS) recently divested of its subsidiary, HB Education Limited (“HB Education” or the “Company”). HB Education was acquired by Midlothian Capital Partners (“MCP”) for £467 million.

C&K is one of the leading leisure and travel groups with operations in 22 countries across four continents. Over the last three decades C&K has transformed itself into a diversified multinational travel conglomerate with a focus on the new-age global consumer. C&K is headquartered in Mumbai, India.

HB Education Limited (formerly known as Holidaybreak Education Limited) provides experiential learning programmes for students, through Residential Activity Centres and Educational Travel Tours. Its programmes are curriculum-linked and enable teachers to reinforce students’ knowledge and understanding as well as develop students’ resilience, confidence and interpersonal skills. The Company’s portfolio of brands including PGL, NST, EST, Travelworks and Studylink provide learning experiences for school students aged 7 through 18, and up to university. HB Education is headquartered in Ross-on-Wye, the United Kingdom.

Midlothian Capital Partners is a consumer-focused investment company. MCP is headquartered in London, the United Kingdom.

Baird partnered with its strategic alliance partner, India-based Axis Capital Limited (“Axis Cap”), to serve as co-advisors on this transaction.

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