Private equity firm buys College of Law
- Published on Wednesday, 18 April 2012 09:35
- Written by Scott Buckler
A private equity firm has bought a UK college with its own degree-awarding powers - in a groundbreaking deal for the UK's higher education sector
The College of Law has been bought by Montagu Private Equity for an amount approaching £200m.The college, set up as a charity, provides law courses in London and in other regional centres in England.
Nigel Savage, the college's chief executive, welcomed the takeover by this "well-resourced partner".The UCU lecturers' union called on the government to "act urgently to protect" the higher education sector from such private equity buy-outs.
There had been earlier speculation that an established education firm would want to buy the college - as a way of establishing a bridgehead into the higher education market.
Source: BBC News