You are here

PSB Academy acquired by UK-listed Intermediate Capital Group

nz_psb_230118.jpg
Private education institute PSB Academy on Tuesday said it is now owned by the Intermediate Capital Group (ICG), with its shareholding transferred from Baring Private Equity Asia.

PRIVATE education institute PSB Academy on Tuesday said it is now owned by London-listed Intermediate Capital Group (ICG), with its shareholding transferred from Baring Private Equity Asia. ICG's investment value in PSB was undisclosed.

In a media statement, Jin Tan, managing director and head of South-east Asia for ICG, said: "Education is a focus industry sector for ICG and PSB represents the second education related investment for ICG in the Asia-Pacific region.

"PSB will serve as an attractive platform for additional acquisitions in education in collaboration with the PSB management team who have demonstrated a strong track record of business growth."

Since 2016, PSB has registered a double-digit percentage growth in its student population, and would soon launch another multimillion-dollar campus in Singapore this year.

PSB's new campus will focus on growth sectors in STEM (Sciences, Technology, Engineering and Mathematics).

sentifi.com

Market voices on:

Powered by GET.comGetCom