NEW YORK--(BUSINESS WIRE)--WorldStrides, one of the largest experiential education providers in the world, has agreed to receive a strategic investment from Eurazeo (EPA: RF), a leading global investment company, and Primavera Capital Group, a leading China-based investment firm. Financial terms of the transaction were not disclosed.
“We are proud of the accomplishments we have achieved and the promising growth initiatives we have put in place in partnership with Metalmark and Silverhawk over the past two years,” said Jim Hall, President and Chief Executive Officer of WorldStrides. “We also are excited to welcome Eurazeo and Primavera to our investment group and look forward to capitalizing on their resources and network, particularly throughout Europe and Asia where there are significant opportunities for us to grow.”
“Our focus will remain on delivering the very best travel programs and content to students of all ages around the world,” continued Mr. Hall. “The Metalmark and Silverhawk teams have been instrumental in driving our business forward. Eurazeo and Primavera, with their resources, experience and capabilities throughout Europe and Asia, provide us with an added competitive advantage that we think will allow us to invest in our market-leading educational programs, broaden and deepen our customer base, and accelerate our growth strategy.”
Robert W. Baird & Co. and Citizens Capital Markets are acting as financial advisors to WorldStrides. Davis Polk & Wardwell LLP is acting as legal advisor to WorldStrides. The transaction is expected to close by year end.
WorldStrides, headquartered in Charlottesville, Va., is the largest educational student travel and study abroad organization in the United States. The company was founded in 1967 to provide middle school travel programs to Washington, D.C., and has grown to provide educational programs for more than 400,000 students annually from more than 7,000 universities and K12 schools to over 100 countries around the world. The organization’s full suite of programs are tuned to learners at stages from elementary through post-graduate levels, and feature specializations like performing arts, sports and study abroad. The company currently has more than 1,300 employees in 58 offices on six continents. For more information, visit www.worldstrides.com.
With a diversified portfolio of approximately €6 billion (~$7 billion) in assets under management, of which €1 billion is from third parties, Eurazeo, headquartered in Paris, is one of the leading listed investment companies in Europe. Its purpose and mission is to identify, accelerate and enhance the transformation potential of the companies in which it invests. More information is available at www.eurazeo.com.
About Primavera Capital Group
Primavera Capital Group is a China-based investment management firm which oversees funds for institutions, companies and families in China and around the world. Its investment team possesses significant global capital markets experience, strong industry expertise, deep local knowledge, and a unique network of relationships with government policy makers, regulators, leading CEOs and influential entrepreneurs. More information is available at www.primavera-capital.com.
About Metalmark Capital
Metalmark Capital is a leading private equity firm that seeks to build long-term value through active and collaborative partnerships with business owners, founders, and executives. The firm focuses its investment activity in growth industrials, natural resources, agribusiness and healthcare. Metalmark Capital manages funds with $3.7 billion in aggregate capital commitments. For more information, please visit www.metalmarkcapital.com.
About Silverhawk Capital Partners
Silverhawk Capital Partners is an independent investment group established in 2005 to invest in management buyouts and other private equity transactions in the growth industrial, energy/natural resources and business service sectors. The partners of Silverhawk have invested as a team and operated businesses since 1989, and have successfully deployed more than $1.3 billion of capital at high rates of return. Further information is available at www.silverhawkcapitalpartners.com.