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Clifford Chance advises on sale of a majority stake in Education Perfect by Five V Capital and Mulpha to KKR Global Impact Fund

29 June 2021

Clifford Chance advises on sale of a majority stake in Education Perfect by Five V Capital and Mulpha to KKR Global Impact Fund

Leading international law firm Clifford Chance has advised on the sale of a majority stake in Education Perfect (EP) by Australian private equity fund manager Five V Capital and Mulpha Credit Sdn. Bhd, to global investment firm KKR's Global Impact Fund. The transaction values the Education Perfect business at NZ$455 million (US$345 million) including a NZ$20 million earn-out component. The sale remains subject to New Zealand Overseas Investment Office approval.

EP is a leading Australian and New Zealand education technology company. A certified B Corporation, EP's EdTech solutions and online learning platform are used by more than 3,000 schools, 40,000 teachers and 1 million students in more than 50 countries worldwide.  EP’s business directly contributes towards United Nations Sustainable Development Goals SDG 4 (Quality Education) by providing accessible, affordable, and high-quality education to students around the world.

As part of the transaction, Five V Capital will remain a significant minority investor in EP as it looks to continue its journey with the business into its next stage of growth. The investment by KKR will enable EP to grow into a major EdTech business globally, with a mission to improve education efficacy and outcomes.

Partner Reuben van Werkum led on the deal with support from senior associate Ivo Basoski and associates Aditya Ralhan and Alex Duffy.

Reuben said, "We are honoured to work with the Five V Capital team again on all aspects of this transaction, which represents one of their largest and most successful exits to date. This was a significant PE auction process in the Australian market and attracted widespread investor interest.  That really is testament to the quality and prospects of the EP business. The Clifford Chance team are proud to have been there for EP's journey over the last four years – advising on the initial acquisition by Five V Capital in 2017 and supporting the business throughout.

ESG and social impact considerations have risen to the top of the agenda for many private equity and institutional investors. With the fast-changing landscape of international and regional ESG policies and frameworks, we are well-placed to provide specialist advice and expertise to our clients, particularly in the financial investor space."